Frank McCourt to Sell the Dodgers

    FILE - In this file photo taken Sept. 14, 2011, Los Angeles Dodgers owner Frank McCourt leaves Los Angeles Superior Court in Los Angeles. Attorneys for Major League Baseball asked a Delaware bankruptcy judge on Friday, Sept. 23, 2011, to clear the way for a sale of the Dodgers, saying team owner is driving the team to destruction. A hearing on the Dodgers' motion seeking approval of a television rights auction process and the league's opposing motion seeking a sale of the team is tentatively set for Oct. 12. (AP Photo/Jason Redmond, file)

    Jason Redmond / AP Photo

    After a two-year battle, Frank McCourt has finally agreed to sell the Los Angeles Dodgers. He announced his decision to sell the team, its stadium, and the surrounding parking lots in a statement with Major League Baseball. The deal requires the approval of a U.S. bankruptcy court, and it’s expected to earn McCourt a lot of money: he bought the team for $421 million in 2004, and the Dodgers are now valued at two or even three times as much.  MLB hopes to have a new owner in place by opening day 2012.

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