Frank McCourt took a few all-out swings at Major League Baseball's proposed financing plan in papers filed Monday in bankruptcy court.
MLB v. McCourt: Financing Plans
The filings claim McCourt would be making a "deal with the devil" if the Dodgers accept MLB's plan to finance the team during bankruptcy proceedings.
The filings came one day before a hearing to determine whether the Dodgers should be financed during the bankruptcy case by a McCourt-arranged loan or a financing plan proposed by Major League Baseball. The MLB loan offers a better interest rate, but attorneys for McCourt claim it would trigger defaults that would allow the league to assume control of the franchise.
In their filing Monday, McCourt's attorneys said MLB Commissioner Bud Selig has an "ulterior motive of seizing control" of the Dodgers.
The Wednesday hearing was scheduled after June hearing in which a judge authorized the Dodgers to enter into a $150 million bankruptcy financing arrangement with a group of New York lenders. Attorneys for Major League Baseball and the team agreed the Dodgers could proceed with their proposed financing on an interim basis, pending the Wednesday hearing to consider an alternate proposal from Major League Baseball.
The Dodgers' owner has said he was forced to file for bankruptcy protection because Selig rejected a proposed media-rights deal. McCourt said the TV deal would provide long-term financial stability for the team. Selig said the proposal was "structured to facilitate the further diversion of Dodgers assets for the personal needs of Mr. McCourt."
