Major League Baseball is taking over the operations of the Los Angeles Dodgers, according to a statement just released by Commissioner Bud Selig.

The move comes just a few days after the Dodgers had to borrow $30 million the team’s former owner, Fox, in order to cover payroll. Currently Dodgers owner Frank McCourt is in the middle of a divorce battle, and his ex-wife is saying she is owed part of the team.

“I have taken this action because of my deep concerns regarding the finances and operations of the Dodgers and to protect the best interests of the Club, its great fans and all of Major League Baseball,” said Selig in a statement.

Selig’s full statement, after the jump.

Read more