McCourt Makes Payroll Through Cash Advances
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LOS ANGELES (CBS/AP) – KNX 1070 has confirmed that Los Angeles Dodgers owner Frank McCourt made payroll Tuesday.
A person familiar with the situation who requested anonymity because he wasn’t authorized to speak publicly said McCourt was able to make payroll Tuesday.
ESPN is reporting from their three sources, McCourt was able to make payroll with cash advances drawn on the team’s corporate sponsorship deals.
The unknown sponsors were offered discounts on their annual bills and luxury box seats.
Baseball officials previously said they didn’t believe McCourt had enough money to cover the team’s end of the month payroll.
McCourt took a $30 million loan from Fox, the Dodgers’ television partner, prior to Major League Baseball Commissioner Bud Selig’s decision to appoint a monitor to oversee the team’s daily operations.
The ability to make payroll gives McCourt more time to possibly reach a settlement with his ex-wife and former team CEO Jamie McCourt.
The McCourts are embroiled in a nasty divorce where she recently asked a judge to order the sale of the team.
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