Jun 1, 2011, 9:40 AM EDT
Frank McCourt’s debt addiction got him and the Dodgers into their current dire straits, so it makes total sense that, as May payroll loomed yesterday, he continued to borrow in order to avoid a takeover by Major League Baseball. It’s just what he does.
That according to ESPN’s Molly Knight, who reports that McCourt met payroll by taking cash advances drawn from the team’s corporate sponsorship deals. Knight reports that the sponsors — unnamed at the moment — took discounts on their annual bills and on luxury box seats in exchange for the up front cash.
Of course, as was reported last week, June payroll is going to be way bigger because Manny Ramirez is owed a deferred compensation payment, so the inevitable has only been delayed. Which just means that, thanks to McCourt and his financial irresponsibility, whoever owns the Dodgers next will have their revenue streams needlessly diminished.
Doin’ a heckuva job there, Frankie.
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