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Blackstone Group 'Bleeds' Dodger Blue

November 2, 2011
Well, actually, the Blackstone Group has been brought in to handle the sale of the the Los Angeles Dodgers baseball team, now that owner Frank McCourt has agreed with Major League Baseball officials to a court-supervised sale of the team and its media rights.  The  long-running court battle between the league and owner Frank McCourt may actually be coming to an end. The Dodgers filed for bankruptcy in June after Commissioner Bud Selig rejected the team's proposed deal to sell its broadcast rights to generate desperately needed cash.  The Dodgers then struck a new deal to sell the media rights, which would have enabled it to exit Chapter 11.  News of the sale comes a few months after the team filed for bankruptcy - and one month after McCourt's $130mn divorce settlement with ex-wife Jamie. It's anticipated that the Dodgers could sell for as much as $1 billion  - a high number that has not been confirmed.  But keep in mind - there's hardly ever a rainout in Los Angeles -their rainy season is in January and February.