MLB Has Agreed To Let Frank Use His Financing Option…
- The team (Dodgers) is seeking permission to borrow $150 million in short-term financing at 10% interest rate and a $4.5M exit fee.
- MLB has offered to provide the financing needed at 7% interest rate and no fee.
- If McCourt uses the financing he wishes, it would likely leave him in charge while all of this drags on for months.
- If MLB wins, then they are most likely able to keep the monitor in control of the Dodgers and ultimately able to take over complete control.