Cohen Leads Race For Dodgers, Eyes Champion Manager

Mar 15 2012 | 2:37am ET

SAC Capital Advisors founder Steven Cohen is the front-runner to purchase the Los Angeles Dodgers.

Reports earlier this week indicated that Cohen's bid for the baseball team was a couple hundred million dollars less than that made by former baseball executive Stan Kasten and Los Angeles Lakers legend Magic Johnson. But Cohen's bid now matches the Kasten-Johnson offer of $1.6 billion—and at least half of Cohen's purchase price would come in the form of cash.

Indeed, Cohen, who last month bought a small stake in the New York Mets, may already be planning for the Dodgers' future. He has reportedly spoken with former Major League manager Tony La Russa about taking the team over under a Cohen regime.

Cohen and La Russa met last weekend in Arizona, where Cohen toured the Dodgers' Spring Training facility and met with Major League Baseball representatives. It is unclear what role La Russa might play with the Dodgers—Cohen's partner in the bid, sports agent Arn Tellem, is expected to become team president if the bid is accepted—and La Russa, who managed the St. Louis Cardinals to a pair of World Series championships in the past six years, including last year, has not made any commitment to join the team.

Major League Baseball owners are expected to vote on the remaining four candidates to buy the Dodgers shortly, with outgoing Dodgers owner Frank McCourt to choose a winner by the beginning of next month.

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...