Frank McCourt's ownership of the Los Angeles Dodgers was taken over by Major League Baseball on Wednesday, YAHOO! reported.
A trustee will be appointed by Baseball Commissioner Bud Selig. Selig told McCourt, who is preparing to sue MLB, the day-to-day operations and business aspects of the club will be overseen by the trustee yet to be announced, according to YAHOO!.
McCourt, who has had known financial issues dating back to at least 2009, needed a $30-million loan from Fox to meet the Dodgers' first payroll of the 2011 season. Selig stepped in as the Dodgers had more than $430 million in long-term debt as of 2009, the Los Angeles Times reported.
McCourts' divorce with Jamie McCourt has remained unresolved while McCourt has been unable to seal a solution for managing the Dodgers' debts, and improving their stadium and team. Tickets sales are around 17,000 this year, which is down 10,000 from 2007, according to the Los Angeles Times.