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Checketts strengthens $600M bid for Dodgers

DurableTear

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Credit: ESPN.com/Associated Press



Saturday, March 15
Billionaire Broad lends support to Checketts
Associated Press


LOS ANGELES -- Former New York sports executive David Checketts has received a boost from billionaire Eli Broad who has agreed to join a $600 million bid to buy the Los Angeles Dodgers, according to a newspaper report.

The Los Angeles Times reported Saturday that Broad, 69, has thrown his support behind Checkett's bid for the team, its stadium and its cable TV home.

The paper said it was not immediately clear how much money Broad has agreed to put toward the bid or whether Dodgers owner News Corp. will accept the deal. Forbes magazine has pegged Broad's net worth at $4.8 billion. Broad has become the first local figure to back Checkett's bid, the newspaper said.

Unidentified sources told the paper that with Broad on board, Checketts has the funding he needs to make a formal offer.

Broad did not return telephone calls to the newspaper seeking comment. Neither Checketts, Major League Baseball nor News Corp. would comment for the story.

The paper previously reported that Checketts had gained a commitment from another billionaire, financier George Soros, and had lined up two banks to help finance the deal.

While News Corp. may be willing to sell the Dodgers, it does not went to sell the television network that carries Dodgers' games. Checkett's bid would include the network, which could scuttle the deal.

Checketts started in professional sports with the Utah Jazz. In 1994, he was appointed to run Madison Square Garden, which oversees the New York Knicks and New York Rangers.

News Corp. bought the Dodgers from the O'Malley family in 1997 for a then-record $310 million.
 

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