The Los Angeles Dodgers agreed to borrow as much as $150 million from Major League Baseball, almost two weeks after the judge overseeing the team’s bankruptcy ordered the two sides to negotiate a deal. The Dodgers today sought a judge’s approval for terms of the loan, which would finance the team’s operations while it is under court protection in Wilmington, Del., according to a report from Bloomberg. The plan does not address the proposed cable television rights deal Dodgers owner Frank McCourt negotiated with News Corp’s Fox Sports. It was MLB’s refusal to OK that deal which lead to the Dodgers filing for bankruptcy in June. Team lawyers said in court they intend to try to sell those rights while in bankruptcy and will propose rules for marketing them this month. Fox has said in court that it would oppose any effort to sell the rights before its exclusive right to negotiate a deal expires next year.
By THE DEADLINE TEAM | Friday August 5, 2011 @ 2:23pm PDTTags: Bud Selig, Dodgers, Fox Sports, Frank McCourt, News Corp
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This article was printed from http://www.deadline.com/2011/08/fox-not-part-of-proposed-dodgers-mlb-deal/