McCourt Finally Agrees To Sell Dodgers And Could Fetch More Than $1 Billion

frank mccourt

Photo: AP

Major League Baseball has announced that Frank McCourt has agreed to sell the Los Angeles Dodgers.While it is unclear who will step up to bid on the team, early estimates say selling the team could command as much $1 billion. One report in September suggested McCourt already had one offer for the Dodgers worth $1.2 billion.

That would be a tidy profit for McCourt, who purchased the team in 2004 for $430 million.

To reach $1 billion, McCourt will have to also include Dodger Stadium as well as the surrounding parking lots as part of the deal. And another big factor in the sale will be future television rights. McCourt had already negotiated a new deal with Fox that was worth $3 billion. However that deal was rejected by MLB.

The divorce from Major League Baseball comes after McCourt finally settled the divorce from his wife. In that agreement, Jamie McCourt relinquished any claims to the franchise, opening up the possibility that Frank McCourt could sell the team.

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