SAC's Cohen Bids For Dodgers

Jan 4 2012 | 3:08am ET

Steven Cohen may have failed in his bid to buy a chunk of his favorite baseball team, but hasn't given up on the idea of owning a club of his own.

The billionaire SAC Capital Advisors founder is among the leading contenders to buy the Los Angeles Dodgers, the team whose departure from Brooklyn, N.Y., in 1957 paved the way for the creation of the Mets five years later. Indeed, Cohen has reportedly already hired the leading sports architecture firm to look into possible renovations at the Dodgers' historic home, Dodger Stadium.

According to Bloomberg News, Cohen is working with Allen & Co.'s Steve Greenberg on the bid and has met with sports agent Arn Tellem, who he may install to lead the Dodgers should he buy them, Bloomberg News reports. Greenberg is the son of baseball legend Hank Greenberg and has close ties to top baseball officials.

Cohen's bid is among the first submitted to Major League Baseball. Initial bids are due Jan. 13.

The Dodgers filed for bankruptcy last year and in November, owner Frank McCourt agreed to put the team up for sale.


In Depth

Q&A: Rotation Capital's Rothfleisch On SPAC 2.0

Aug 11 2017 | 7:43pm ET

Corporate actions have long been a staple of event-driven investors, but activity...

Lifestyle

CFA Institute To Add Computer Science To Exam Curriculum

May 24 2017 | 9:25pm ET

Starting in 2019, financial industry executives sitting for the coveted Chartered...

Guest Contributor

Star Mountain: Private Lending in the Lower Middle-Market

Aug 14 2017 | 4:45pm ET

Private credit has become one of the most popular alternative asset classes in recent...

 

From the current issue of