Embattled Dodgers owner Frank McCourt is nearing a tentative settlement with Major League Baseball that would lead to him selling the team, the Los Angeles Times reported Tuesday.
The potential deal could see McCourt sell not only the ballclub, but also Dodger Stadium and the surrounding parking lots, sources close to the negotiations told the Times.
McCourt, who filed for bankruptcy in June as a last-ditch effort to keep MLB commissioner Bud Selig from seizing the cash-strapped franchise, would maintain some control over the final sale, which could garner a record price of $1 billion or more, according to the report.
The trial, which had been set to kick off Monday, was delayed last week by one month to reportedly clear the way for a potential settlement.
Dodgers spokesman Robert Siegfried and MLB spokesman Pat Courtney declined to comment on the negotiations, which remain tentative, sources said.
McCourt filed bankruptcy to seek approval for a proposed auction of the team’s television rights package, a move Baseball and current rights holder FOX Sports have attempted to block.
The embattled owner has vowed since April he would not sell the floundering franchise despite Selig’s appointment of an outside representative to oversee the club’s day-to-day finances.
FOX Sports is owned by News Corp., which also owns NewsCore.