That's $800 million more than what he paid for the Dodgers in 2004.
L.A. Marathon founder Bill Burke is leading the bid that would get funding from Chinese government-owned investment banks. The offer expires in 20 days.
Neither Frank nor Jamie McCourt have commented publicly on the bid. The purchase would include the team, the stadium, parking lots and all media rights.
McCourt has said that he has no interest in selling the Dodgers and that he intended to remain the owner after the team emerges from bankruptcy protection.
The proposed sale price would break a record for a Major League Baseball team that had been set two years ago when the Ricketts family paid $845 million to buy the Chicago Cubs from Tribune Co.
The participation of overseas investors in the team's ownership would not be unprecedented, with the Seattle Mariners' ownership group including a significant Japanese presence.
The Associated Press contributed to this report.