Monday, 24 October 2016
Last updated 2 days ago
Mar 12 2012 | 12:37pm ET
SAC Capital Advisors founder Steven Cohen took some time on Saturday to do some on-the-ground due diligence in Arizona about a major potential investment.
The hedge fund billionaire was treated to a tour of the Los Angeles Dodgers' spring-training home outside of Phoenix, Camelback Ranch, prior to the Dodgers' exhibition game against the Chicago White Sox.
Cohen was shown around the facility, in Glendale, by Dodgers vice chairman Jeff Ingram and chief revenue officer Michael Young. The tour comes just days before Cohen and the six other bidders for the Dodgers are due to make their latest bids, and Major League Baseball begins interviewing the groups.
Cohen is believed to be one of three favorites to buy the Dodgers, and, with a personal fortune in excess of $9 billion, is thought to be one of two bidders who could pay cash for the team.
Current Dodgers owner Frank McCourt is set to choose a new owner for the team by the beginning of next month. Last month, Cohen bought a 4% stake in his favorite team, the New York Mets, an interest he'll have to sell if he wins the Dodgers.