Los Angeles Dodgers put up for sale

The Los Angeles Dodgers have been officially put up for sale, the team and Major League Baseball announced late Tuesday. The move begins the process of bringing in new ownership to replace Frank McCourt, who has been vilified by fans and the Los Angeles media and has been accused by MLB of improperly using team revenues for his personal use. The Los Angeles Times said the sale, which must be approved by a bankruptcy court, will involve the team and its media rights as well as Dodger Stadium and its parking lots. McCourt purchased the assets in 2004 for $421 million. "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," the Dodgers and MLB said in a brief written statement. The Blackstone Group LP will manage the sale, the statement said.