SAC's Cohen Among Dodgers Finalists; Second Bid Due This Month

Feb 10 2012 | 2:39am ET

SAC Capital Advisors founder Steven Cohen has another couple of weeks to put together a winning bid for the Los Angeles Dodgers.

Cohen is among 11 finalists to buy the baseball team, one more than the maximum number Major League Baseball is permitted to approve under the sale terms agreed by the league and current Dodgers owner Frank McCourt. Second bids are due around Feb. 23, Reuters reports, with a winner to be selected no later than April 30.

The Dodgers are expected to go for more than $1.5 billion, a record for a baseball team.

Cohen is working with sports agent Arn Tellem on his bid. He's not alone among alternative investments honchos dreaming of owning one of baseball's most legendary franchises. Private equity honchos Leo Hindery and Thomas Barrack have joined forces and made the cut, as did the Roy Disney family and their hedge fund, Shamrock Partners.

Between 15 and 20 groups made initial bids by the first deadline last month.

Cohen is also said to be nearing the purchase of a minority stake in his favorite team, the New York Mets. If he wins the Dodgers sweepstakes, he'll have to sell that interest.


In Depth

Whisky Business: The Ultimate Liquid Alternative Investment

Sep 15 2014 | 7:02am ET

David Robertson knows his single-malt whisky—he was the Master Distiller at the...

Lifestyle

Hedgies Rock Out For Children's Charity

Sep 15 2014 | 8:40am ET

It's that time of year again—when hedgies trade in their spreadsheets for guitars...

Guest Contributor

Volkered: How Financial Sector Reforms are Creating Opportunities for Hedge Funds

Sep 16 2014 | 11:28am ET

New regulations have dramatically curtailed proprietary trading activity in investment...

 

Editor's Note

    Get A Sneak Peak Of The Alpha Pages

    Aug 25 2014 | 11:21am ET

    As many of you know, FINalternatives was recently acquired by the owners of Futures magazine, a firm called The Alpha Pages LLC. Today marks the soft-launch of a new sister site for both publications. As its name suggests, The Alpha Pages will cover all types of alternative investments, going far beyond the more well-known ones such as hedge funds and private equity. Read more…

 

Futures Magazine

September 2014 Cover

The London Whale: Rogue risk management

The London Whale saga is a twist on the typical rogue trader story as the rogue trader recognized the error of his ways and was prepared to take his medicine but was instructed by superiors to “defe...

The Alpha Pages

TAP July/August 2014 Cover

The Alpha Pages Interview: Senator Rand Paul

Senator Paul sat down in the debut series of the Alpha Pages Interview to discuss the broken tax code, regulation surrounding Bitcoin, and his plans for the 2016 Presidential election.