The Los Angeles Dodgers and Major League Baseball announced …
Dodgers owner Frank McCourt looted nearly $190 million from the…
Embattled Dodgers owner Frank McCourt is nearing a tentative …
Los Angeles Dodgers owner Frank McCourt will continue paying …
Attorneys representing Frank and Jamie McCourt in their divorce…
At the start of a dramatic week of bankruptcy news for the LA …
In the wake of the Dodgers bankruptcy hearing in Delaware on …
Los Angeles Dodgers owner Frank McCourt can move ahead with a …
Dodgers owner Frank McCourt vows to wreck havoc with Major …
A voluntary settlement conference will continue today in Jamie …
Settlement talks has resumed in the divorce case of Jamie and …
A judge scheduled a hearing for next month to consider Jamie …
With the Los Angeles Dodgers in danger of running out of cash …
The cash-strapped Los Angeles Dodgers franchise risks losing …
When Major League Baseball took control of the Dodgers from …
Attorneys for Frank McCourt have filed notice that they are …
Jamie McCourt, the ex-wife of Los Angeles Dodgers owner Frank …
A Los Angeles judge ruled today that a 2004 marital property …
A judge declared an impasse Tuesday over efforts to settle who …
A final decision on who owns the Los Angeles Dodgers was still …
The question of whether a post-nuptial agreement between Frank…
Updated: Wednesday, 01 Jun 2011, 2:33 PM PDT
Published : Tuesday, 31 May 2011, 2:09 PM PDT
Los Angeles - Los Angeles Dodgers owner Frank McCourt has paid his major league bills -- for now.
Despite baseball officials who believed he didn't have enough money to cover the team's end-of-the-month payroll, the embattled McCourt was able to cover Dodgers-related expenses Tuesday, said a person familiar with the situation who requested anonymity because he wasn't authorized to speak publicly.
If McCourt wasn't able to meet payroll -- a question that lingers for the remainder of the season -- Major League Baseball would have taken control and paid the team's bills.
Based on an opening-day payroll of $103.8 million, the Dodgers' payroll for its major league roster in the second half of May was about $8.25 million. The figure includes 16 days' salary, but not any signing bonus payments that happen to fall due.
ESPN first reported that McCourt was able to make the payroll.
The Los Angeles Times, citing anonymous sources, reported last week that McCourt needed roughly $9.8 million to meet Tuesday's payroll. His financial woes will increase in June because the Dodgers owe Manny Ramirez more than $6 million in deferred compensation, the paper said.
McCourt took a $30 million loan from Fox, the Dodgers' television partner, prior to Major League Baseball Commissioner Bud Selig's decision to appoint a monitor, former Texas Rangers President Tom Schieffer, to oversee the team's daily operations and to examine its records.
The ability to make payroll gives McCourt more time to reach a settlement with his ex-wife and former team CEO Jamie McCourt. The McCourts are embroiled in a nasty divorce where she recently asked Superior Court Judge Scott Gordon to order the sale of the team.
Gordon has ruled that a postnuptial marital agreement signed by the former couple, which gave Frank McCourt sole ownership of the Dodgers, was invalid and cleared the way for Jamie McCourt to seek half the team under California's community property law.
Settlement talks are set to resume June 8.
McCourt has urged Selig to approve a 17-year contract with Fox that could be worth more than $3 billion, which would include a front-loaded payment of about $300 million.