Frank McCourt and Major League Baseball are moving closer to settling their bankruptcy hearing, with McCourt possibly agreeing to sell the Los Angeles Dodgers, the Los Angeles Times reported Monday.

A sale of the franchise likely would also include Dodger Stadium and the parking lots surrounding the stadium, according to the report. The Times cites anonymous sources familiar with the negotiations. Such a package could bring back a record $1 billion or more, the Times estimated, although the report adds that McCourt has not decided to sell. (MORE>>>)