LOS ANGELES (CBS) – The Los Angeles Times is reporting a settlement may be near between Major League Baseball and Frank McCourt to sell the Los Angeles Dodgers.
McCourt would get some control in the sale of the team, which might command $1 billion including the land surrounding the stadium.
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The Times reports, talks are fluid, and settlement talks could fall apart at any time.
A four-day trial was scheduled to start Monday.
US Bankruptcy judge Kevin Gross announced the postponement last 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.