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.

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

Kevin O’Leary, one of the venture capitalist “sharks” from the reality television show, said Monday that he had joined a group known as the People’s Bid for TikTok that has been putting together a bid for TikTok’s U.S. business. The effort is being spearheaded by billionaire Frank McCourt, who sold the Dodgers in 2012.