Thursday, 23 October 2014
Last updated 4 hours ago
Jan 24 2012 | 12:48pm ET
If Steven Cohen is going to own a baseball team, he's going to have to fight for it.
More than 10 people or groups submitted opening bids for the Los Angeles Dodgers by yesterday's deadline. The SAC Capital Advisors chief was among them.
Also making a play for the Dodgers are private equity honchos Leo Hindery and Marc Utay, who, like Cohen, were stymied last year in their effort to buy a piece of the New York Mets (Utay and Hindery also tried, and failed, to buy the Chicago Cubs). Members of the Disney family and the head of their hedge fund Shamrock Holdings, Stanley Gold, also submitted a bid. Guggenheim Partners CEO Mark Walter is part of a group headed by former Los Angeles Lakers great Magic Johnson and former baseball executive Stan Kasten. Private equity mogul Ron Burkle is said to be interested, and Colony Capital's Thomas Barrack may join one of the competing groups.
Other prominent names in the hunt are former Dodgers owner Peter O'Malley, Dallas Mavericks owner Mark Cuban, and former New York Yankees and Dodgers manager Joe Torre.
The Dodgers are expected to fetch at least $1.5 billion.
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"I tell people that everybody likes good news and so if you have good performance that’s wonderful,” explains Mike McKitish of Peddie School's endowment, “but it’s the people that want to talk about the bad news or where they drifted and how they came back and how they stayed to their discipline…” that he wants to hear from. Read more…
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