The Auburn Doubledays (short season A; NY-Penn League) have missed loan payments to the city, but the nonprofit running the team will make interest-only payments in 2015 and pay off the principal in 2016 under a new plan. (more…)
Tag Archives | loan
Doubledays nonprofit owner seeks city help to cover debt
Auburn Community Baseball is seeking $125,000 in loaned city funds to cover debts associated with its management of the Auburn Doubledays (short season A; NY-Penn League). The Doubledays and Falcon Field are owned by the city of Auburn, but the team is managed by the nonprofit. So, basically, the debt is the responsibility of the […]
Selig: No to proposed Fox/Dodgers TV deal
In a blow to the proposed divorce settlement between Frank and Jamie McCourt that could have cleared up the tangled finances of the Los Angeles Dodgers, MLB Commissioner Bud Selig has rejected a Fox loan against broadcast rights to Dodgers game — the proceeds of which would settle Jamie’s claims and help the team make […]
Selig shoots down Fox loan to Dodgers
Seeking working capital, Frank McCourt negotiated a $200-million loan from Fox Sports, using the Los Angeles Dodgers’ broadcast deal as collateral — a risky deal that was ultimately shot down by Commissioner Bud Selig. More money woes from the MLB world. The deal was simple: Fox would lend the Dodgers $200 million. If the loan […]