Dodgers sale: Who's who in the bidding process
With opening bids due Monday, here is a look at the 15 individuals, groups or corporate entities publicly identified as prospective buyers.
By Bill Shaikin
January 22, 2012
Who's the front-runner in the Dodgers' ownership sweepstakes? It is impossible to say, since not all bidders have been identified publicly and mystery billionaires could be lurking. With opening bids due Monday, here's a look at prospective bidders who have been identified publicly:
Magic Johnson/Stan Kasten: Championships in L.A.: Magic 5, Dodgers 5.
Joe Torre/Rick Caruso: They're using money from banker most trusted by Warren Buffett.
Steven Cohen/Arn Tellem: Cohen could buy Dodgers for $2 billion, still have $6 billion in net worth.
Mark Cuban: Third time's the charm? He lost in bidding for Chicago Cubs and Texas Rangers.
Tom Barrack: L.A. investor's firm once owned teams in Japanese baseball, French soccer.
Ron Burkle: L.A. grocery magnate, co-owner of NHL's Pittsburgh Penguins.
Stanley Gold/Disney family: No fears of periwinkle pinstripes. This is Disney family, not Disney Co.
Peter O'Malley: Former Dodgers owner has discussed partnership with Gold/Disney bid.
Tony Ressler: L.A. investor, minority owner in Milwaukee Brewers, married to actress Jami Gertz.
Dennis Gilbert: Agent-turned-baseball executive finished third behind Nolan Ryan, Mark Cuban for Rangers.
Alan Casden: MLB wasn't comfortable with L.A. developer last time he bid on Dodgers.
Tom Golisano: Former owner of NHL's Buffalo Sabres, reportedly dating Monica Seles.
Fred Claire: General manager last time Dodgers won World Series — 24 years ago.
Steve Garvey/Orel Hershiser: Links to glory days of Dodgers' last two champions.
Fox/Time Warner Cable: Neither one wants to buy team, but willing to buy part of Dodgers to make sure the other one doesn't.
www.latimes.com/sports/la-sp-dodgers-bidders-20120123,0,26639...
Dodgers receive more than 10 opening bids for the team
Those submitting bids include Magic Johnson, Mark Cuban, Peter O'Malley and Joe Torre. Sources say that St. Louis Rams owner Stan Kroenke has explored whether to bid.
By Bill Shaikin
January 23, 2012
The Dodgers received "more than 10" opening bids for the team by Monday's deadline, according to a person familiar with the sale but not authorized to discuss it.
As the bankers handling the sale evaluate the bids, prospective buyers can evaluate whether to join forces. In addition, because the bankers can waive the deadline at their discretion, new bidders could emerge.
St. Louis Rams owner Stan Kroenke has explored whether to bid for the Dodgers, two people familiar with the sale process said Monday. It is uncertain whether Kroenke has submitted an offer. Rams spokesman Ted Crews did not return messages Monday night.
Outgoing owner Frank McCourt expects the Dodgers to sell for at least $1.5 billion.
Dallas Mavericks owner Mark Cuban submitted a bid by Monday's deadline, as did East Coast hedge fund giant Steven Cohen and former Dodgers owner Peter O'Malley.
Several groups also turned in bids, including those involving Magic Johnson and longtime baseball executive Stan Kasten; Los Angeles developer Rick Caruso and former Dodgers manager Joe Torre; Los Angeles investor Stanley Gold and the family of the late Roy Disney; and former agent Dennis Gilbert and Los Angeles investors Jason Reese and Randy Wooster.
The Wall Street Journal reported that New York investors Leo Hindery and Marc Utay submitted a joint bid. Hindery and Utay tried unsuccessfully for the Chicago Cubs.
The opening bids are not binding. As a result, according to sports business consultant Marc Ganis, a prospective owner might offer more money now than he might realistically be willing to spend.
"You'd want to bid higher to make sure you get into the next round," Ganis said.
Ganis said bidders are considering partnerships not only to pool money but to enhance the expertise among groups by pairing, say, a sports executive with a financier. O'Malley and Gold have discussed such a partnership. Los Angeles financier Tom Barrack, whose Colony Capital has invested in a Japanese baseball team and a French soccer club, could join one of several groups.
"It's very fluid right now," said a sports investment banker who could not be identified because of his involvement in the sale process. "A lot of the guys that made a bid haven't figured out where the money is coming from."
www.latimes.com/sports/la-sp-dodgers-bidders-20120124,0,27294...