A group formed by billionaire entrepreneur and former Los Angeles Dodgers owner Frank McCourt has made a formal offer to buy TikTok from its China-based parent company, ByteDance.

A group led by Kevin O'Leary and billionaire Frank McCourt said it had submitted a bid for TikTok to the video app's Chinese owner Bytedance.

The app’s availability in the U.S. has been thrown into jeopardy over data privacy and national security concerns.

With the future of TikTok’s ownership hanging in the balance, two uber-rich, politically connected investors are lying in wait, hoping to snag the app if it’s ultimately put on the market.

Entrepreneur and former Los Angeles Dodgers owner Frank McCourt's Project Liberty and its consortium of partners in The People's Bid said on Thursday they proposed to make a formal bid to ByteDance to buy TikTok's U.

An organization founded by billionaire Frank McCourt, the former owner of the Los Angeles Dodgers, and its partners on Thursday said they made a formal bid to acquire the U.S. assets of TikTok as the popular social media platform faces a possible nationwide ban later this month.

Frank McCourt’s Project Liberty consortium has proposed to buy TikTok’s US assets, securing financial backing for the deal.

As TikTok inches closer to a ban in the US, billionaire Frank McCourt's non-profit organization - 'Project Liberty,' along with a group called

O'Leary is teaming up with billionaire Frank McCourt to make a play for the app, which faces a nationwide-looking U.S. ban.

McCourt's Project Liberty proposes a bid for the US operations of TikTok. McCourt's Project Liberty Proposes Bid

Billionaire Frank McCourt, the former owner of the Los Angeles Dodgers, said he is leading a group of backers to make a bid for the video social media site TikTok just days before a deadline the Chine