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Monday, June 20, 2011

Bud Selig rejects Dodgers TV contract, nullifying McCourt divorce deal - LATimes

Posted by The Meck

Bud Selig rejects Dodgers TV contract, nullifying McCourt divorce deal - LATimes / Bill Shaikin

excerpt ..
Major League Baseball Commissioner Bud Selig on Monday rejected a proposed television contract between the Dodgers and Fox Sports, invalidating a divorce settlement between Frank and Jamie McCourt and all but challenging Frank McCourt to surrender the team or sue.

Selig rejected the contract on the first business day after the McCourts announced a settlement contingent upon approval of that contract.
Selig did not strip Frank McCourt of ownership of the Dodgers. But McCourt has said for months that approval of the Fox contract was critical for the Dodgers' financial health.

Photos: The Dodgers and the McCourts

In a statement released by Major League Baseball, Selig said he had provided McCourt "an expansive analysis of my reasons for rejecting this proposed transaction." Specifically, the statement mentioned that the Dodgers-Fox deal was "structured to facilitate the further diversion of Dodgers assets for the personal needs of Mr. McCourt."

One provision of a divorce settlement reached last week between McCourt and ex-wife Jamie would have diverted almost half the immediate payment on the television contract to them and their attorneys. The upfront payment was to be $385 million, with up to $173.5 million reserved for the McCourts and their attorneys.

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Bud Selig rejects Dodgers TV contract, nullifying McCourt divorce deal - LATimes / Bill Shaikin
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The Meck Report / Blog - June 20, 2011 - 5:30p
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