LAD
The Los Angeles Dodgers filed for protection under the U.S. Bankruptcy Code last June. Reuters

(Reuters) - The Los Angeles Dodgers detailed their plan on Friday for repaying creditors with cash from the expected sale of the team, which would clear the way to end the baseball franchise's bankruptcy by May.

More than a dozen potential buyers have expressed interest in buying the team. Forbes magazine valued the team at $800 million in March and the sale could rank among one of the biggest U.S. sports deals.

The team has set Monday as the expected bid deadline for initial bids, a Dodgers spokeswoman said.

Money from the sale would be used to repay creditors in full, according to court documents. The terms of the sale will be made public by April 6, according to the court documents.

The Dodgers filed for bankruptcy in June after the commissioner of Major League Baseball, Bud Selig, rejected a media rights sale and left the team without enough cash to make payroll.

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