Baseball Commissioner Bud Selig confirmed Monday that Tom Schieffer will oversee the Dodgers, calling the former Texas Rangers president a "monitor" responsible for the club's business and finance operations.

In his statement, Selig noted that Schieffer would oversee the Dodgers and "all of the franchise's related entities." Owner Frank McCourt has separated the Dodgers as a business entity from Dodger Stadium and the surrounding land, but he has funneled revenues generated by the Dodgers toward those other entities.

Selig's statement:

Baseball Commissioner Allan H. (Bud) Selig announced today that he has appointed J. Thomas Schieffer, the former president of the Texas Rangers, as the Monitor of the Los Angeles Dodgers franchise. Schieffer will represent the Office of the Commissioner of Baseball in the oversight of the day-to-day operations, business and finances of the Dodgers and all of the franchise’s related entities.

Schieffer, an investor in the ownership group headed by George W. Bush and Rusty Rose that purchased the Rangers in 1989, was the club president from 1991-1999 and the franchise’s general partner from November 1994 until June 1998. The Fort Worth native was the club’s partner in charge of ballpark development in advance of the 1994 opening of The Ballpark in Arlington. The Rangers won their first three American League West titles (1996, 1998-1999) in club history in the years during Schieffer’s tenure.