Several of the eight groups trying to purchase the Washington Nationals were expected to file financial documents with Major League Baseball yesterday, committing to pay anywhere from $400 million to $500 million for the team, according to sources familiar with the bidding process.
This month the league requested more financial information from the bidders, including how much each group is willing to pay for the team, who is the lead member of the group, how much each group is borrowing and what banks are lending the money, according to sources. The documents were due yesterday.
MLB is hoping to sell the Nationals, who are owned by the league's 29 other teams, this month for as much as $450 million. Yesterday's deadline is the latest phase of the team's sale, which began last spring, when the groups each placed a $100,000 deposit with MLB for the right to bid on the Nationals. The groups placed initial bids ranging between $300 million to more than $400 million on June 1, and at least three groups had indicated orally that they were willing to go as high as $450 million, according to sources.
The groups have been allowed to review the team's financial documents and have received briefings by MLB Advanced Media, which runs the league's lucrative online businesses.