The Los Angeles Dodgers will take a loan from Major League Baseball:
The Los Angeles Dodgers and Major League Baseball have agreed on a bankruptcy financing plan for the team.
A court filing Friday in Delaware outlines a plan for the league to provide unsecured financing of up to $150 million for the Dodgers.
That’s another loss for McCourt. Although he didn’t get what he wanted, he did get cheaper money.
It’s not a loss, it’s a win. He only sought outside financing because first MLB would not offer him any, like they did to the Mets, and then after he filed bankruptcy MLB offered him financing with strings attached that would have made it easier to oust him. The judge ruled McCourt should take the cheaper money, and told MLB to remove the strings, which they did.
Pop is the sound of champagne bottles opening at McCourts penthouse.