McCourt Seeks Loan

Like so many Southland residents whose property has appreciated in the last year, Dodger co-owner Frank McCourt is looking to borrow against his burgeoning assets. According to multiple sources, the Dodgers are seeking permission from Major League Baseball to increase their debt on Dodger Stadium and surrounding real estate by about $100 million to $350 million.

If the loan goes through, McCourt might pay off some of the $196 million he owes the previous Dodger owner, News Corp. That loan has early buy-down incentives. Some of the money also could go toward capital improvements at and around Dodger Stadium.

McCourt was unavailable for comment. A call to the baseball commissioner’s office was not returned.

To purchase the Dodgers, McCourt borrowed $196 million from News Corp., secured by real estate he owns in Boston. He borrowed the remainder of the $421-million purchase price and did not use any of his cash.

Since the sale was final in January, the Dodgers cut payroll more than 10% to $93 million and increased their annual media rights fee to $25 million from $15 million.

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The Dodgers, as expected, signed free-agent reserve outfielder Ricky Ledee to a two-year contract worth $2.5 million.

The left-handed Ledee, 31, can play all three outfield positions. In seven seasons, he has batted .242 with 53 home runs and in 16 career postseason games he has a .295 average with six doubles in 44 at-bats.

Ledee batted .285 in 123 at-bats with the Philadelphia Phillies last season, but only .113 in 53 at-bats after being traded to the San Francisco Giants in July.

“He has a pretty full resume,” Dodger General Manager Paul DePodesta said. “We feel fairly confident about what we will get out of him. It is a natural fit.”

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DePodesta said arbitration would be offered to fewer than half of the 12 Dodger free agents today. The team relinquishes negotiating rights to any free agent who is not offered arbitration.

The only player DePodesta says he is undecided on is pitcher Jose Lima, who was 13-5 last season and shut out the St. Louis Cardinals in the playoffs. DePodesta said that the recent revelation that Lima was infected with herpes all season would not be a factor in re-signing him.

Arbitration will be offered to third baseman Adrian Beltre. Certain to be left off the list are catchers Todd Hundley and Brent Mayne, infielder Jose Hernandez and pitchers Hideo Nomo, Paul Shuey and Elmer Dessens. First baseman Robin Ventura has retired.

Center fielder Steve Finley and pitchers Odalis Perez, Wilson Alvarez and Lima present difficult decisions for DePodesta.

If a player accepts arbitration, the team could end up paying a higher salary than it wants.