Tuesday, June 14, 2011

When Manny Came Back To Bite Frank McCourt (?)

At some point, Frank McCourt's massive fire sale, leveraging the Dodgers' future in order to get cash in the present, has to come to a screeching halt at some point, right? The plate-spinning act has to come to a close rather soon...what about on June 30 (only 17 short days away!), when the massive $8.33M payment to Manny Ramirez comes due, part of what the LAT's Bill Shaikin says is a payroll payment obligation of almost $30M:

The cash-strapped Los Angeles Dodgers must pay Manny Ramirez $8.33 million by June 30, a source said on Monday.

The polarizing slugger is due the deferred money from the $42 million contract he signed with Los Angeles before the 2009 season. The Dodgers traded him to the White Sox last year but still owe him an additional $8.33 million in 2012 and $8.33 million in 2013. Ramirez retired in April after failing his second drug test in three seasons.

Dodgers owner Frank McCourt had to draw advances against the team's corporate sponsorship deals to meet his June 1 payroll obligations. Last week, USA Today reported that McCourt had the funds to meet payroll on June 15. The Dodgers, through a spokesman, declined to comment on the money owed to Ramirez.

$8.33M means Frank's gotta look under a whole lot of sofa cushions. On the other hand, Frank McCourt has found enough to get past the two May hurdles (and allegedly, the June 15 hurdle). He has had an uncanny way of being just slippery enough to slither out of harm's reach...just like another Indiana Jones reference I know.