Monday, June 13, 2011

June 30th Is the Day

More good news is coming down the pike. The LA Times reports that about $30 million is required for payroll on June 30th and the Dodgers have no chance of meeting that.
The Dodgers owe about $10 million in payroll Wednesday, according to one of the people, but that figure roughly triples for the June 30 payment as several deferred salaries come due, including more than $8 million to Manny Ramirez.

The Dodgers appear to have "no chance" to meet the June 30 payroll without a cash infusion from a new television contract, according to a person familiar with McCourt's finances but not authorized to discuss them. If McCourt misses payroll, Selig could make the payments for him, seize the team and put it up for sale.
From my understanding, deferred payments are also due to Juan Pierre and Andruw Jones.

Our long regional nightmare may soon be coming to an end. (I'm crossing my fingers)

I guess the only thing that could stop the inevitable is if Selig approves the TV deal soon thereby giving McCourt the funds to continue his ownership. But, by the sounds of this LA Times report, that doesn't seem likely since the MLB report is not due until the end of this month which probably makes it too late for McCourt to gather the funds to make payroll.

Perfect timing, eh?

That Selig, he's a crafty one.

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