The bid is headed by Los Angeles Marathon founder Bill Burke and funded in part by Chinese investors, according to a letter sent to McCourt on Tuesday. The letter was disclosed to The Times by two people familiar with its content but not authorized to discuss it publicly.
The proposed sale price would set a record for a MLB team.
The bid terms proposed by the Burke group call for an all-cash payment to buy the Dodgers, all real estate related to the team and the team's media rights, according to the letter. Attorneys for McCourt have said he could try to keep Dodger Stadium and the surrounding parking lots even if he sold the team.
The bid would expire in 21 days, according to the letter, with the goal of closing a deal within 90 days, subject to the approvals of the bankruptcy court and Major League Baseball.I'm not gonna get too worked up over this news. Yes, it's exciting to think the Dodgers could have new ownership, but Shaikin is talking about foreign investors other than Burke, "certain state-owned investment institutions of the People's Republic of China, as well as unidentified American investors. All sales must be approved by the MLB owners, and I just can't see this one going through. You never know though, Bud Selig and the owners really want Frank McCourt out. For now, I'll take this story with a grain of a salt.