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

Financial Industry Blockchain Consortium R3 To Open-Source Platform Code

Oct 20 2016 | 9:03pm ET

Bitcoin's blockchain technology has spawned a flurry of activity among fintech startups...


U.S. Trust's Beard: The Rapid Growth of the Art Lending Industry

Oct 7 2016 | 10:55pm ET

Alternative investment managers have emerged as some of the most significant art...

Guest Contributor

Hedge Fund Marketing – Tips for Your Initial Sales Meeting

Sep 29 2016 | 5:46pm ET

There are two main goals a hedge fund should have for an initial in-person sales...