Billionaire Frank McCourt's Project Liberty and several partners offered few details on their plan to buy the U.S. assets of the platform, announced the day before the high court will decide its fate.

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.

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

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

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

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.

This potential ban is being challenged by TikTok on First Amendment grounds, with the company referring to it as an "unprecedented censorship" for the over 170 million Americans who use the app. The Supreme Court's decision could have significant repercussions for stocks such as Meta (NASDAQ: META) and Oracle (NYSE: ORCL ), among others.

A consortium of US business leaders submitted a bid to ByteDance to buy TikTok's US assets ahead of a review by the Supreme Court.

A lawsuit filed by late owner Peter Seidler's widow against two of his brothers may complicate matters for San Diego's front office.