Dodgers Seek Court Approval For $150M Loan From MLB

Law360, New York (August 5, 2011, 2:18 PM EDT) -- The Los Angeles Dodgers asked a Delaware bankruptcy judge on Friday to approve a $150 million loan from Major League Baseball that would keep the team operating for the remainder of the season.

Under terms of the agreement, MLB could not seize the Dodgers in the event of a default on the loan, answering a major concern of the team and owner Frank McCourt Jr., who initially balked at the league's offer out of concern that it was a ploy to usurp his control of the...
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