McCourt Makes Payroll Through Cash Advances

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.

KNX 1070’s Chris Sedens reports.

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.

TM and © Copyright 2010 CBS Local Media, a division of CBS Radio Inc. and its relevant subsidiaries. CBS RADIO and EYE Logo TM and Copyright 2010 CBS Broadcasting Inc. Used under license. All Rights Reserved. This material may not be published, broadcast, rewritten, or redistributed. The Associated Press contributed to this report.)

Comments

One Comment

  1. that sucks says:

    Go job Faux. I tis true what they say about you…..

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