|
LOS ANGELES -- The Dodgers Friday asked permission of a bankruptcy court to auction their media rights in a move owner Frank McCourt says will allow him to keep the club. A hearing is set for October 12. The club's current television rights belong to FOX through the 2013 season. McCourt, seeking cash to fund the club's operations earlier in the year, negotiated an extension of that deal for $3 bi foot ball game llion and 17 years with an upfront payment of nearly $400 million, but it was rejected by Commissioner Bud Selig for not maximizing value of the rights. The plan McCourt presented Friday would allow for a 45-day window of exclusive negotiating with FOX, followed by an auction if a new deal with FOX was not struck. Under the current contract, FOX has exclusive negotiating rights for another year. T foot ball game he Dodgers, in papers filed with the court, suggest that Time Warner, Charter Communications, Dish Network and DirecTV could be bidders for the rights or partners in a regional sports network that could produce a deal in excess of the $3 billion FOX proposal. If the bankruptcy court approves such a sale of the rights, it's McCourt's strategy to use the funds as part of an overall financial restruc foot ball game turing that would allow him to pay down his debt and emerge from bankruptcy protection as owner, without requiring a sale of the club. The Dodgers currently are operating with a $150 million loan from Major League Baseball. McCourt's ownership is being challenged by ex-wife Jamie McCourt, who seeks a 50 percent stake through California community property laws. Scott Gordon, judge in that case, has foot ball game said he could not order the sale of the club until it emerges from bankruptcy. foot ball game
|