LOS ANGELES (AP) — Frank McCourt has reportedly been offered $1.2 billion for the Los Angeles Dodgers in a bid that would get funding from Chinese government-owned investment banks.
The Los Angeles Times (http://lat.ms/r9r0Gg) reported Thursday that it has learned the contents of a letter to McCourt about the bid that’s being headed by Los Angeles Marathon founder Bill Burke.
The bid terms call for an all-cash payment to buy the Dodgers, all real estate related to the team and the team’s media rights.
It says the money would come from “certain state-owned investment institutions of the People’s Republic of China” as well as unidentified American investors
Burke declined to comment on the bid to the Times.
McCourt spokesman Steve Sugerman did not return a call from The Associated Press seeking comment.