Barring a last minute change, owners from Major League Baseball’s 30 clubs will vote to approve the sale transfer of the Houston Astros from Drayton McLane to Jim Crane during the league’s quarterly owners meetings this week. The meetings take place on Weds and Thurs of this week.
The other key matter of business for MLB this week centers on a bankruptcy hearing for the Los Angeles Dodgers tomorrow. The date was suppose to be part of the effort by Frank McCourt to have the television rights of the club auctioned off. McCourt is pushing that avenue after MLB rejected an extension with FOX that would have seen $385 million in up-front payment to the beleaguered club. The league took issue with how money in that deal was to be used. While $385 million would go to the club, just $235 million would have gone to the Dodgers while the remaining $150 million was set to be used by Frank McCourt primarily as part of his expensive divorce from his former wife, Jamie.
But, according to the LA Times, the hearing will not be addressing the auction of the Dodgers’ television rights, something that FOX is adamantly opposed to. The current contract with FOX runs through 2013 and does not allow for right-of-first refusal negotiations with FOX until Nov. of 2012. McCourt is looking to have a bidding war between FOX and presumably Time Warner Cable take place.
Maury Brown is the Founder and President of the Business of Sports Network, which includes The Biz of Baseball, The Biz of Football, The Biz of Basketball and The Biz of Hockey, and is a contributor to Forbes SportsMoney blog.. He is available as a freelance writer. Brown's full bio is here. He looks forward to your comments via email and can be contacted through the Business of Sports Network (select his name in the dropdown provided).
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