Judge hopes to rule Thursday in Dodgers bankruptcy hearing

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After a hearing that lasted well into the Delaware evening, Bankruptcy Court Judge Kevin Gross said he hopes to rule Thursday on whose $150-million loan should be used to run the Dodgers while the team is in bankruptcy.

Dodgers owner Frank McCourt arranged for a loan from a hedge fund; MLB Commissioner Bud Selig prefers that Major League Baseball fund the loan.

Whichever way the ruling comes down, it will not mean McCourt will lose ownership of the Dodgers. Instead, the ruling sets the stage for the parties to argue the core issue in this case: Can McCourt auction the Dodgers’ cable television rights to pay off the team’s creditors and remain the owner, or can Selig get the court to enforce the league rules to which McCourt agreed, including rules that grant Selig the right to approve all television contracts and the right to strip an owner of a team upon filing for bankruptcy?

We’ll have more later at latimes.com/sports.

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-- Bill Shaikin, reporting from Delaware.