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.

Comments

One Comment

Leave a Reply

Please log in using one of these methods to post your comment:

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

More From CBS Los Angeles

KNX 1070 Newsradio
Play.It

Listen Live