McCourt has owned the marathon for the past three years, introducing the popular “Stadium to the Sea” route, but Howard Sunkin, senior vice president of the McCourt Group, told Shaikin that he decided to sell the event earlier this summer.
“Frank made a determination several months ago that he needed to concentrate on the Dodgers,” Sunkin said Friday. “We’re listening to offers. We’ll continue to evaluate it.”
While McCourt expects the Dodgers to sell for more than $1.2 billion at auction, two racing industry executives told Shaikin that the marathon would probably sell for less than $20 million. Of course, the marathon is small potatoes compared to the worth of the Dodgers, but this is a sign that he remains hard up for cash.