Frank McCourt to sell the Dodgers

Photo provided by TMZ
Wednesday, November 2, 2011 - 12:46pm

LOS ANGELES, CA. (FOX44) - The hits just keep on coming for Dodgers owner Frank McCourt who just announced he's selling the team.

"The Los Angeles Dodgers and Major League Baseball announced that they have agreed today to a court-supervised process to sell the team and its attendant media rights in a manner designed to realize maximum value for the Dodgers and their owner, Frank McCourt," read a joint statement from Frank and the MLB.

The Blackstone Group LP will manage the sale process.

There are rumors that Frank will fetch as much as $1 billion for the team but so far, that number is still unconfirmed.

The news of the sale comes a few months after the team filed for bankruptcy and one month after Frank's $130 million divorce settlement with ex-wife Jamie.

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