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The deal is being finalizedd and could be announced by the end ofthe week, sourcex told ESPN. However, several AOL-Time Warner officiales denied that an agreemenyt hasbeen reached. They also said othef potential buyers remain in the running forthe "We're not going to commen on specific rumors regardinvg the sale of our sportsz teams, but we are currentlyg speaking with a number of interested company spokesman Greg Hughes told the Atlantwa Journal-Constitution. "We don't have a deal with anyonde at this time." McDavid could not be immediately reachedfor McDavid, founder and CEO of , has long had an interestr in owning sports teams. In McDavid joined Ross Perot Jr.
and othert investors in buying the Dallas Mavericksfor $125 They sold the team to Mark Cuban in Januarh 2000 for $280 million. McDavid had unsuccessfully attemptedd to buy a stake in the Charlotted Hornets of the NBA in 2001 and last year formedxa Dallas-based investment company with his Stephen Dieb, for the purpose of owning a sportss club. The firm, called DMc Group, told the Dallas Businesd Journal last year it was looking to buy a NBA or NFL In 1997, McDavid sold 70 percent of his stakw in David McDavid Auto Group to Connecticut-basedf Asbury Automotive Group.
Davidx McDavid Auto Group has 17 dealerships in Houston andthe Dallas-Fort Worth Since last year, AOL was rumoreds to be interested in selling some or all of its sportw franchises, which also include the . CEO Richard Parsonw told analysts Sept. 27, 2002 that he was "consideringf the sale" of the company'z sports franchises, which include the three professionap teams. Parsons said AOL would considersellinb "non-core assets," such as the Atlantza professional sports franchises, as a way to bolster AOL's balance sheet.
"We have prestige sports franchises andtwo state-of-the-art venuesd to showcase our AOL said in a prepared "As you would expect, we get unsolicited inquiriesd from time to time about the sale of one or more of our "In response to questions from investorz and analysts, AOLTW Corporate management has commented that undedr certain conditions, the compan y would not rule out a As a result, from time to third parties have expressed interest 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 Checketts will submit two bids to buy AOL Time Warner's pro one including the Braves and one without. Both bids will also includse Philips Arena andTurnere South. Checketts, who is backed by billionaire George Soros, "will submit his bids by the report said. Checketts spent Monday with AOL execsin Atlanta. He also has a bid in to purchassthe Dodgers.
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