Baseball, Sports Team Owner | featured news

A federal grand jury is investigating possible criminal financial misconduct of the Dodgers and related entities during the ownership of Frank and Jamie McCourt, a person familiar with the matter told The Times.

The Los Angeles Dodgers, one of the most successful franchises in Major League Baseball, ushered in a new era of ownership Wednesday while ending a dismal chapter of ownership under Frank McCourt, who baseball's commissioner described as "looting" the club of $190 million to fund an extravagant lifestyle.

Owners of the New York Mets baseball team have agreed to pay $162 million to settle a lawsuit by the trustee seeking money for victims of Bernard Madoff's fraud.

The all-cash bid comes from Bill Burke, founder of the L.A. Marathon, plus 'state-owned investment institutions of the People's Republic of China' and unidentified American investors, a letter sent to Frank McCourt says.

Hedge fund manager David Einhorn, who is in talks to buy a large minority stake in the New York Mets, could become a principal owner of the baseball team in three years, the New York Times and ESPNNewYork.com reported on Saturday.

The owners of the New York Mets were accused of reaping $300 million of fictitious profits from Bernard Madoff's record Ponzi scheme, a lawsuit by the trustee seeking money for Madoff's victims said.