Chris Ilitch Talks As New Tigers Owner Bettman Praises Penguins Owners For Staying Fans Upset Stars Failed LGBTQ Tribute MLB Giants Payroll To Top $200M For First Time Mitt Romney In Talks With Yankees For Small Stake Redskins Still Silent On Cooley's Comments Sounders Approved To Add Star On Replica Jerseys Montgomery Biscuits Being Sold To Lou DiBella's Group Canucks Owners Interested In CFL B.C. Lions Lakers Adjusting To Life Under Magic Regime
DODGERS BORROW $20 MILLION FROM L.A. BANK TO COVER EXPENSES
Published October 31, 1994
The Dodgers, suffering financial losses from the players strike, have borrowed $20M from the club's line of credit with a L.A. bank. Dodgers Owner Peter O'Malley: "We have an ongoing line of credit with a major bank and expect to draw on it next month to meet the overhead and annual expenses we have." O'Malley said it is "inaccurate to characterize the club as being in financial trouble," but he told his staff that the loan is a response to the strike's impact. Dodgers VP/Finance Bob Graziano said the loan was necessary to cover operating expenses and "to fund the payroll for people still working here and to make sure the grass gets watered." Granziano: "I don't think anyone is saying the club is on the ropes." The Dodgers are estimated to have lost $12M due to the strike (Newhan & Hudson, LA TIMES, 10/29).