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

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.

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.

A consortium led by billionaire Frank McCourt, former owner of the Los Angeles Dodgers, has submitted a formal bid to

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

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.

Shark Tank”‘s Kevin O’Leary — a.k.a. “Mr. Wonderful” — said he’s nearing a deal to buy TikTok from its Chinese-owned parent company ByteDance to avoid the U.S. ban on the social media app.

Kevin O’Leary, star of Shark Tank, has announced his partnership with former Dodgers owner Frank McCourt to bid for TikTok’s U.S. operations, potentially preventing the app from facing a government-mandated ban.

The internet advocacy group's proposed purchase would bring TikTok under American ownership and prevent it from being banned in the U.S.