Frank McCourt to Sell the Dodgers

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.