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Economy

Major League Baseball Appoints Former Rangers' GM To Monitor Dodgers

Days after Major League Baseball assumed control of the troubled Los Angeles Dodgers, commisioner Bud Selig has appointed Tom Schieffer as the team's monitor.

In a statement, Selig said Schieffer would provide "oversight of the day-to-day operations, business and finances of the Dodgers and all of the franchise's related entities."

"We are very fortunate to have someone of Tom Schieffer's stature monitor the operations of the Los Angeles Dodgers on behalf of Major League Baseball," added Selig. "Tom is a distinguished public servant who has represented the nation with excellence and has demonstrated extraordinary leadership throughout his career."

Schieffer was the president of the Texas Rangers from 1991 to 1998 and general manager from 1994 to 1998. He was part of the investment group headed by George W. Bush that purchased the team in 1989.

Major League Baseball took over the Dodgers from owner Frank McCourt amid concern about the state of the team. The New York Times adds a bit of background:

Selig recently refused to let McCourt borrow $200 million with the collateral being an extension of the club's cable TV deal with Fox Sports West. But McCourt subsequently got a $30 million personal loan from Fox that did not require Selig's approval, the Los Angeles Times has reported.

The Dodgers have more than $400 million in debt. McCourt last week questioned the need for Selig's takeover of the franchise.

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