5:17pm: Major League Baseball is skeptical of the offer, writes Shaikin, as it suspects McCourt may be using the offer as a ploy to stir negotiations with other suitors or to persuade a bankruptcy judge to keep McCourt in charge of the team.
"There are questions within the sports industry about whether this is a genuine offer," said one industry consultant who works extensively with MLB and other professional sports leagues.
2:11pm: Frank McCourt's financial troubles have been well-documented, but the Dodgers owner could sell his team for more than any MLB franchise in history. McCourt has been offered $1.2 billion to sell the Dodgers, according to Bill Shaikin of the LA Times. Los Angeles Marathon founder Bill Burke headed the bid, which includes funding from Chinese and American investors.
Both Burke and a spokesman for McCourt declined to comment to Shaikin. McCourt has discussed the sale of a partial share of the Dodgers with at least two others groups, Shaikin reports. Burke's group is offering a cash payment for the team plus all related real estate and media rights. The bid would expire in 21 days with the goal of closing a sale within 90 days, according to Shaikin.
The Cubs sold for $845MM two years ago and that remains the record sale price for an MLB franchise.