Jun 1, 2011, 9:40 AM EST
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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- No, the Red Sox signing Pablo and Hanley is not proof that baseball needs a salary cap 160
- Red Sox announce four-year, $88 million deal with Hanley Ramirez, DFA Juan Francisco 34
- The Cubs have offered Jon Lester “north of $135 million” 68
- Pablo Sandoval’s deal: five years, $98 million plus an option 43
- Kyle Seager, Mariners close to $100 million extension 26
- The 2015 Hall of Fame ballot is out — Randy Johnson, Pedro Martinez are new on the ballot 286
- So what would the Red Sox look like with Hanley Ramirez and Pablo Sandoval? 49
- The 2015 Hall of Fame ballot is out — Randy Johnson, Pedro Martinez are new on the ballot (286)
- No, the Red Sox signing Pablo and Hanley is not proof that baseball needs a salary cap (160)
- More Hall of Fame ballots like Adam Rubin’s please (138)
- Report: Pablo Sandoval chose the Red Sox over the Giants because he felt disrespected (135)
- UPDATE: The Pablo Sandoval-Red Sox deal is done, pending a physical (133)