McCourt Lacks Funds, Could Lose Team

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LOS ANGELES (CBS) – Multiple sources say that the Los Angeles Dodgers will not be able to make payroll at the end of May, without taking out another significant loan.

Dodgers’ owner Frank McCourt still contends that if Major League Baseball would approve his TV deal with FOX, everything would be resolved.

The $30-million loan received from FOX last month can cover them after their first May payroll. If McCourt is unable to meet payroll by the second payroll in May, MLB could seize the team from him.

(©2011 CBS Local Media, a division of CBS Radio Inc. All Rights Reserved. This material may not be published, broadcast, rewritten, or redistributed. Wire services contributed to this report.)

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