Frank McCourt is holding a press conference in NYC after his meeting with MLB. The Conference started at 2:50pm.
We know that Frank proposed a deal to MLB which would grant him 300M now, in exchange for TV Rights for FOX. Don’t get excited, this is money that would likely be used to pay off wife and lawyers. Luckly for us, Bud Selig rejected the proposal and has taken over control of the club.
Here are some highlights from the conference:
- “Nobody handed me the Dodgers…I’m not going anywhere.”
- “Dodgers are current on all of our financial obligations.”
- “If anybody wants to come in and observe what we do, watch what we do… I welcome them 100%”
- Will you sue Selig? McCourt: “I’m very committed to my position. I have not decided exactly what we’re going to do.”
- “None of the $300 million would be used personally, and would be reinvested as equity in the Dodgers”
- “I think I made some mistakes. I’m sorry about that. I’m committed to doing this differently moving forward.”
- McCourt apologizes to community for personal spending, public divorce complications
- Frank McCourt on Bud: “I suspect commissioner Selig calls the other 29 other owners back when they call”
- “It’s my money invested in the Dodgers. It’s my liability….”
- “I thought I enjoyed a decent relationship with Bud.”
- McCourt on Dodger Stadium security: “I personally could have moved a little quicker.”
- McCourt on $30 million personal loan from Fox: “Why is investing more of my money in the Dodgers a bad thing?”
- Frank apologizes to Dodger fans for dragging them through this divorce. Says he is a changed human being hoping for a second chance.
- McCourt sent Bud a personal letter apologizing for embarrassing MLB and asking if they could all move on.
So what we know? We know that Frank is desperate for money and we know his wife owns 50% of the club. We know FOX is desperate for the TV rights, while Time Warner Cable has interest as well. We know Bud Selig took over control and has given it to Tom Schieffer for the time being.
Stay tuned, we’ll keep adding updates.