Cohen Among Dodgers' Final Four

Mar 14 2012 | 12:16pm ET

SAC Capital Advisors founder Steven Cohen's odds to buy the Los Angeles Dodgers improved to no worse than one-in-four—at the expense of two groups led by other alternative investments players.

Major League Baseball is set to reject two of the remaining six groups seeking the Dodgers, the Los Angeles Times reports. Stanley Gold, who heads the Disney family hedge fund, and the family of the late Roy Disney, are out, as are private equity honchos Leo Hindery and Thomas Barrack.

It is unclear why the two groups were eliminated, or whether they'll appeal to the court-appointed mediator in the Dodgers sale. The last bidder eliminated, Alan Casden, did so, to no avail.

In addition to Cohen's group, which includes sports agent Arn Tellem, the remaining bidders for the Dodgers are groups led by former baseball executive Stan Kasten and Los Angeles Lakers legend Magic Johnson, St. Louis Rams owner Stan Kroenke and Memphis Grizzlies owner Michael Heisley, who is working with Ares Capital co-founder Tony Ressler.

Cohen's bid is currently the second-highest for the team, at $1.4 billion, according to Forbes. The Kasten-Johnson group is offering $1.6 billion. Both would make the Dodgers the most expensive North American sports team to ever change hands.

Cohen's offer includes $900 million in cash.

MLB plans to submit all four remaining bidders to a vote of its owners. Those that are approved will them make final bids before current owner Frank McCourt makes a decision, by the beginning of next month.


In Depth

Bob Doll's Ten Market Predictions For 2016

Jan 7 2016 | 9:37pm ET

Well-known market strategist Robert Doll has published his annual list of ten predictions...

Lifestyle

Citadel's Ken Griffin Donates $40M To New York's Museum of Modern Art

Dec 22 2015 | 9:23pm ET

Citadel founder Ken Griffin has donated $40 million to New York’s Museum of Modern...

Guest Contributor

Hedge Fund Marketing - Making the Most of Your Salesperson

Jan 20 2016 | 8:11pm ET

In this contributed article, Bruce Frumerman of Frumerman & Nemeth takes a close...