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Tuesday, November 1, 2011
Mark Cuban: Dodgers price too high

ESPN.com news services

Dallas Mavericks owner Mark Cuban said he looked into buying the Los Angeles Dodgers, but backed off because current owner Frank McCourt's asking price of $1 to 1.2 billion was too high, the Los Angeles Times reported Tuesday.

"At that price, I wasn't interested," Cuban told the newspaper.

However, Cuban said he would be interested should McCourt come down in price.

"At the right price, I'm interested," Cuban told the Times. "Not if the price is over $1 billion."

Cuban has previously fallen short in attempts to buy the Chicago Cubs and Texas Rangers. In August 2010, an investment group led by Hall of Fame pitcher Nolan Ryan beat out Cuban in a bankruptcy auction for the Rangers with a bid of nearly $600 million.

"I don't think the Dodgers franchise is worth twice what the Rangers are worth," Cuban said.

Later Tuesday, McCourt reached an agreement with MLB to sell the Dodgers, along with Dodger Stadium and the surrounding real estate, a decision that brought to end not only a six-month legal battle with Major League Baseball commissioner Bud Selig but also a 7½-year ownership that was simply never embraced by the team's fan base.

The Dodgers and Major League Baseball issued a joint news release in the wake of the agreement. It read as follows:

"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 Blackstone Group LP will manage the sale process."

The Dodgers have been in bankruptcy since last spring, shortly after Selig appointed a trustee to oversee the team's finances because of his belief that McCourt had been guilty of mismanagement.

Information from ESPNLosAngeles.com's Tony Jackson and The Associated Press was used in this report.