Report: Frank McCourt Considers Selling The Dodgers
LOS ANGELES (CBS) — After months of saying, and adamantly, that he was not going to sell the Dodgers, a report in the LA Times suggests Frank McCourt is exploring the option.
With a one-month postponement in bankruptcy hearings, sources told the Times McCourt and Major League Baseball discussed a possible settlement that would include McCourt selling the team.
The Times quoted anonymous sources who said they were not authorized to comment on the confidential talks.
A four-day trial was scheduled to start Monday.
US Bankruptcy judge Kevin Gross announced the postponement Wednesday without citing a reason.
Those close to the talks say the month was broached to give McCourt a chance to seek a buyer.
The Times reported MLB Commissioner Bud Selig was okay with McCourt initially selling a minority interest in the team but now favors McCourt selling the team outright.
A MLB report accused McCourt of “looting” the team of $190 million for his own personal use, a charge McCourt vehemently denied.
Further, using team revenue for personal use is just one of ten rules the commissioner charged McCourt with violating. One violation is grounds for a franchise to be terminated.
McCourt has said he would never part with the Dodgers, but broached the idea at one point of selling off parking rights or concessions.
A court filing by McCourt’s legal team set the value of the Dodgers at “in excess of $1 billion.”