The Los Angeles Dodgers’ proposed television deal with Fox Sports was rejected by Major League Baseball Commissioner Bud Selig, a move that Bloomberg says may lead to the sale of the team.

"It is my conclusion that this proposed transaction with Fox would not be in the best interests of the Los Angeles Dodgers franchise, the game of baseball and the millions of loyal fans of this historic club," Selig said in a statement.

Dodgers owner Frank McCourt and his ex-wife last week created a community property settlement that was dependent on the long-term TV contract with Fox, an agreement that included a $385 million loan that would have eased a cash crunch for the team, the story notes.

“Critically, the transaction is structured to facilitate the further diversion of Dodgers assets for the personal needs of Mr. McCourt,” Selig said. His statement noted the "diversion of assets would have the effect of mortgaging the future of the franchise."

Representatives of Frank and Jamie McCourt declined to comment, as did a Fox Sports spokesman.