VERO BEACH, Fla. - Despite a report due in Monday's Los AngelesBusiness Journal that New York businessman Dave Checketts is on theverge of buying the Dodgers from News Corp., sources close to thenegotiations said a deal is not near.
Complicating any purchase of the Dodgers is the unwillingness ofNews Corp. to include Fox Sports Net or Fox Sports Net 2 in thedeal, sources said.
Reached late Friday, News Corp. spokesman Andrew Butcher wouldnot comment on the matter.
According to the upcoming issue of the Business Journal, anagreement has been reached and 'an announcement could be made withinthe next several weeks.' Checketts reportedly will pay $620 millionfor the ballclub, Dodger Stadium and 80 percent interest in FoxSports Net 2, which airs Dodgers games.
However, sources said a price has not been settled upon and thecable station isn't to be included. The Dodgers, bought by RupertMurdoch's News Corp. from the O'Malley family in 1998 for $317million, lost $40 million last season, and the inclusion of one ofthe cable stations could offset the deficit.
The Dodgers might not be Checketts' only target. According tosources, Checketts also is negotiating a possible deal with AOL TimeWarner about purchasing the Atlanta sports teams.
Checketts, the former president and chief executive of MadisonSquare Garden, the NHL's New York Rangers and NBA's New York Knicks,is trying to gather financial backing for his endeavor. He has lessthan a $100 million commitment from financier George Soros and alsohas commitments from two banks - J.P. Morgan Chase and Co. andFleetBoston Financial Corp. However, Major League Baseball frowns ondebit financing transactions.
