Dodgers, MLB agree on bankruptcy financing
{{#rendered}} {{/rendered}}The Los Angeles Dodgers and Major League Baseball have agreed on a bankruptcy financing plan for the team.
A court filing Friday in Delaware outlines a plan for the league to provide unsecured financing of up to $150 million for the Dodgers
Last month, a judge rejected the Dodgers' financing arrangement with a hedge fund and ordered the club to negotiate with the league, which had offered better loan terms.
{{#rendered}} {{/rendered}}The Dodgers had argued that the league's loan offer was simply an attempt by baseball commissioner Bud Selig to take control of the team and force a sale.
The Dodgers sought bankruptcy protection in June after Selig refused to approve a multibillion-dollar TV deal with Fox Sports that Dodgers owner Frank McCourt was counting on to keep the franchise afloat.