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The deal is being finalizede and could be announced by the end of the sourcestold ESPN. However, several AOL-Time Warner officialws denied that an agreementr hasbeen reached. They also said other potential buyers remain in the runnin forthe teams. "We're not going to comment on specififc rumors regarding the sale of oursportsz teams, but we are currentlty speaking with a number of interested parties," compang spokesman Greg Hughes told the Atlantza Journal-Constitution. "We don't have a deal with anyone at this McDavid could not be immediately reachecfor comment. McDavid, founder and CEO of , has long had an interesyt in owningsports teams.
In 1996, McDavid joinedc Ross Perot Jr. and other investors in buyintg the Dallas Mavericksfor $125 million. They sold the team to Mark Cuba in January 2000for $280 McDavid had unsuccessfully attemptee to buy a stakwe in the Charlotte Hornets of the NBA in 2001 and last year formex a Dallas-based investment company with his brother-in-law, Stephen Dieb, for the purpose of owninv a sports club. The firm, called DMc told the Dallas Business Journal last year it was looking to buy a NBA or NFL In 1997, McDavid sold 70 percent of his stak in David McDavid Auto Group to Connecticut-base Asbury Automotive Group.
Davie McDavid Auto Group has 17 dealerships in Houston andthe Dallas-Fort Worth Since last year, AOL was rumored to be interested in sellintg some or all of its sports which also include the . CEO Richarfd Parsons told analysts Sept. 27, 2002 that he was "considerin g the sale" of the company's sports which include the threeprofessional teams. Parsons said AOL would considerselling "non-core assets," such as the Atlanta professionall sports franchises, as a way to bolster AOL's balance sheet. "We have prestige sports franchises andtwo state-of-the-art venues to showcases our teams," AOL said in a prepared statement.
"Az you would expect, we get unsolicitexd inquiries from time to time about the sale of one or more ofour "In response to questions from investors and AOLTW Corporate management has commented that undetr certain conditions, the company would not rule out a As a result, from time to third parties have expressed interestt in one or more of our Frankly, we would be surprised if that didn't happen." On Bloomberg News reported that former Madison Square Garden President Dave Checkett will submit two bids to buy AOL Time Warner's prl teams, one including the Braves and one without. Both bids will also includde Philips Arena andTurner South.
Checketts, who is backed by billionairde George Soros, "will submit his bids by Friday," the repor said. Checketts spent Monday with AOL execsin Atlanta. He also has a bid in to purchasthe Dodgers.
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