Report: Dodger Bids Must Be $1.5B
(CBS) — Frank McCourt may have been forced to sell the Los Angeles Dodgers, but now it appears he’s going to come away from the sale as a very rich man.
From Forbes magazine: ” A person familiar with the bidding says that given the initial offers being reviewed by Blackstone, the team’s investment bank, owner Frank McCourt will be able set a minimum price of $1.5 billion for the next round.”
Bidders who have fallen below the minimum $1.5 billion bid may still submit a new bid.
The Dodgers are believed to have received at least 20 bids on Monday, not including Time Warner or Fox Sports.
According to Forbes, ESPN may get involved in the bidding because of the valuable television rights.
The Houston Astros recently sold for $680 million, as did the Chicago Cubs for an estimated $845 million.