Dodgers to keep $6 billion from TV deal
The Los Angeles Dodgers get to keep $6 billion from their new TV contract with Time Warner Cable after settling with Major League Baseball.
The Los Angeles Times reported Friday that the two sides came to an agreement in US Bankruptcy Court. The court previously had jurisdiction over the Dodgers' business dealings when previous owner Frank McCourt sold the team and declared bankruptcy.
Guggenheim Partners, the team's current ownership group, had been in a legal tussle with MLB over the television contract.
The Dodgers, however, will have to pay nearly $2 billion in league revenue sharing as part of the agreement.
Guggenheim Partners executive Todd Boehly told the Times that the team could add another pair of $100 million contracts to the roster next season.
Henry Silverman, senior managing director of Guggenheim, said it could also spend another $100 million toward Dodger Stadium upgrades.
