28 January 2012

Who's Still in the Mix to Purchase the Los Angeles Dodgers?

We are getting closer to the end of the Frank McCourt nightmare in Chavez Ravine. The opening round of bidding has concluded with ten ownership groups advancing to the second round of bidding, six of which have been identified. Here they are, courtesy of ESPN Los Angeles and Pro Hardball Talk.
  • The group featuring former Dodgers manager Joe Torre, who resigned from working for the Commissioner to join this bid. This group is headed by LA real estate developer Rick Caruso.
  • The group led by Lakers legend Magic Johnson, which is being funded Guggenheim Partners CEO Mark Walter.
  • The group headed by Steve Cohen, a hedge fund manager billionaire who founded SAC Capital Advisors.  
  • A group headed by Stan Kroenke, the owner of the St. Louis Rams and former owner of the Denver Nuggets and Colorado Avalanche (those teams are controlled by his son as per NFL cross ownership rules. He would be allowed to purchase the Dodgers as they are not in an NFL market).
  • The group headed by Stanley Gold, who is the CEO of a private investment company, Shamrock Holdings, which was founded by the late Roy E. Disney, and many of his surviving family members are involved in this group as well.
  • And last but not least, maybe the sentimental favorite, the group headed by former owner Peter O'Malley, who sold the team to News Corporation in 1998. There are rumors that this group may join with the Gold group.
The bids by Dallas Mavericks owner Mark Cuban and by former Dodgers stars Steve Garvey and Orel Hershiser were not selected to advance. The bids are now north of a record $1.2 billion according to Buster Olney and Jon Heyman reports that there is already one bid in the region of $1.5 billion. 

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