The deadline, set for Monday, to submit initial bids for the Los Angeles Dodgers may hit a record selling price for a professional baseball team. Frank McCourt, the owner of the bankrupt Dodgers, won concessions from MLB that may reduce influence baseball commissioner Bud Selig can have over the sale developments.
Bryan Krakauer, the bankruptcy attorney for the Dodgers, also assisted in designing a Major League Baseball record sale of $845 million for the Chicago Cubs baseball team. He said, “Just having an expeditious approval process from MLB will aid the sale and it may improve the price.” It is reported that the Dodgers may sell for more than $1 billion. The bids will not be made public.
