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SBD/June 14, 2011/Franchises
Frank McCourt Needs About $30M To Meet Dodgers' June 30 Payroll
Published June 14, 2011
Dodgers Owner Frank McCourt "needs about $30 million to make his team’s payroll June 30, a critical indicator that a confrontation between” McCourt and MLB Commissioner Bud Selig over the future of the team "could loom by month’s end,” according to Bill Shaikin of the L.A. TIMES. Sources said that McCourt is "expected to meet" the Dodgers' $10M payroll due tomorrow. But one of the sources indicated that the figure "roughly triples for the June 30 payment as several deferred salaries come due," including more than $8M to Manny Ramirez. One source said the Dodgers appear to have "no chance" to meet the June 30 payroll unless Selig approves the team's proposed new TV contract with Fox. Selig has indicated that he “would not consider approving the Fox deal until he receives the results of an investigation into the Dodgers’ finances,” which MLB officials hope to conclude “this month.” Absent approval of the Fox contract, “it is unclear how Frank McCourt could finance a divorce settlement without selling the Dodgers” (L.A. TIMES, 6/14). A source said that the Dodgers "must pay Manny Ramirez $8.33 million by June 30." The recently retired Ramirez is "due the deferred money" from the $42M contract he signed in '09. The Dodgers traded Ramirez to the White Sox last season, but "still owe him an additional $8.33 million in 2012 and $8.33 million in 2013" (ESPN.com, 6/13).