Bill Shaikin of the Los Angeles Times reports that Frank McCourt has agreed to sell the Dodgers through bankruptcy court auction.
Tim Brown of Yahoo! Sports corroborates the story.
Update 1: Bill Shaikin reports further details on the situation.
McCourt and Major League Baseball have agreed to seek approval from the U.S. Bankruptcy Court for an auction of the Dodgers. The sale is expected to include the team, Dodger Stadium and the surrounding parking lots, a package bought by McCourt for $421 million in 2004 and likely to sell for two to three times as much now.
The league hopes a new Dodgers owner can be in place by opening day.
Important part is that he has to sell the whole thing, so he won’t be keeping anything in regards to the Dodgers.
Dylan Hernandez relays that MLB and Frank McCourt have released a joint statement agreeing to a process supervised by the court to sell the team and media rights.
Update 2: Tim Brown provides this wonderful information: “MLB source on whether McCourt is definitely out in LA: ‘It’s over. It’s irrevocable.’“