Bid for Dodgers delayed

Major League Baseball Commissioner Bud Selig said at a news conference that McCourt has not forwarded most of the paperwork the commissioner's office must review before the team owners could vote.

The delay has raised questions within the industry about whether McCourt has the financial resources to complete the $430 million deal, according to a report in the Los Angeles Times.

When asked yesterday whether he had doubts about McCourt's bid, Selig said, "I can't say that at this time. I haven't seen the particulars of the deal . . . We're waiting for the details."

A person close to the negotiations said last night that the deal is on track, however. "We've said over and over that there is no problem with Frank McCourt's financial resources and capability to purchase the Dodgers," the person said. "He's moving forward on that front to provide baseball with the documents it requires to present to the full owners for a vote. Nothing's really changed."

The parties attempted to get the deal done on an ambitious six-week schedule, by the Nov. 20 meeting, but now will not be able to do so. McCourt has until Dec. 31 to submit the documents to Major League Baseball and must close the deal by Jan. 31 to avoid losing his exclusivity.

"We think it's still OK, and they keep insisting it's still OK, but we're still owed 99 percent of the paperwork," a high-ranking baseball official said, the Times reported.

The Times reported that, although the sale price is listed at $430 million, the actual value of the club and its holdings would be about $330 million, once discounts and credits are factored in.

In October, McCourt reached an agreement in principle with News Corp. to buy the Dodgers, 276 acres around Dodger Stadium, and training facilities in Florida and the Dominican Republic.

McCourt, who had failed in two earlier attempts to buy Major League teams, including the Boston Red Sox, planned to head an investment group that would buy the team, pending approval by Major League Baseball.

The agreement reached by the McCourt group does not include television broadcast rights. News Corp's Fox Sports unit will retain regional rights to the games.

McCourt wanted to buy the Red Sox in 2001, but eventually dropped out of the bidding.

He also was interested in purchasing the Anaheim Angels this year, but Arizona businessman Arturo Moreno bought them for $184 million.

Meanwhile, McCourt is looking to sell or find a partner for his 24 acres on the South Boston Waterfront, where he has wanted to build everything from a ballpark for the Red Sox to office towers.

A person close to McCourt said he is not trying to raise cash to purchase of the team, insisting that McCourt had been planning such a transaction for some time.

Thomas C. Palmer Jr. can be reached at tpalmer@globe.com.