McCourt calls MLB loan 'deal with the devil'

Frank McCourt calling somebody else the devil? Now that's chutzpah for you - or as Michelle Bachmann would say, shutz-pah. At issue is whether the Dodgers should be financed during its bankruptcy proceedings with a loan arranged by McCourt or a cheaper one being offered by Major League Baseball. A bankruptcy court is set to hear arguments Wednesday, another step in what's likely to be a long and contentious process. From the LAT:

The attorneys for McCourt called the proposed Major League Baseball loan a "deal with the devil" and argued the bankruptcy court has no grounds to impose an MLB loan upon the Dodgers over one McCourt has arranged, even if the league offers better financial terms. "The financing purportedly offered by the commissioner is nothing but a pretext for the commissioner to burden and exert control over the Dodgers in furtherance of the commissioner's ulterior motive of seizing control of the [Dodgers] and ousting Mr. McCourt," the attorneys for McCourt wrote.

Once the loan matter gets settled, the Dodgers will ask the court to approve a sale of the team's cable television rights, a sale that Commissioner Bud Selig has vetoed and which McCourt insists will put him on better financial footing.


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Mark Lacter
Mark Lacter created the LA Biz Observed blog in 2006. He posted until the day before his death on Nov. 13, 2013.
 
Mark Lacter, business writer and editor was 59
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