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| Frank McCourt agrees to sell Dodgers | 11.02.11 at 7:01 am ET |
Dodgers owner Frank McCourt reached an agreement with Major League Baseball to sell the team and its media rights in a “court-supervised process.” The two sides struck a deal during mediation to avoid a showdown in U.S. Bankruptcy Court in Delaware.
McCourt had filed for bankruptcy protection in June after MLB rejected McCourt’s 17-year TV contract with Fox.
Attorneys for MLB accused McCourt of “looting” almost $190 million from the team for personal and business uses unrelated to the team.
Dodgers attorneys accused commissioner Bud Selig of attacking McCourt to gain control of the team.
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