Magic Johnson, Mark Cuban Submitted Bids to Buy the L.A. Dodgers

by January 25, 2012

Mark Cuban and Magic Johnson were two of the parties who placed bids to buy the iconic baseball franchise, reports the LA Times: “The Dodgers received ‘more than 10’ opening bids for the team by Monday’s deadline, according to a person familiar with the sale but not authorized to discuss it. As the bankers handling the sale evaluate the bids, prospective buyers can evaluate whether to join forces. In addition, because the bankers can waive the deadline at their discretion, new bidders could emerge. St. Louis Rams owner Stan Kroenke has explored whether to bid for the Dodgers, two people familiar with the sale process said Monday. It is uncertain whether Kroenke has submitted an offer. Rams spokesman Ted Crews did not return messages Monday night. Outgoing owner Frank McCourt expects the Dodgers to sell for at least $1.5 billion. Dallas Mavericks owner Mark Cuban submitted a bid by Monday’s deadline, as did East Coast hedge fund giant Steven Cohen and former Dodgers owner Peter O’Malley. Several groups also turned in bids, including those involving Magic Johnson and longtime baseball executive Stan Kasten; Los Angeles developer Rick Caruso and former Dodgers manager Joe Torre; Los Angeles investor Stanley Gold and the family of the late Roy Disney; and former agent Dennis Gilbert and Los Angeles investors Jason Reese and Randy Wooster. The Wall Street Journal reported that New York investors Leo Hindery and Marc Utay submitted a joint bid. Hindery and Utay tried unsuccessfully for the Chicago Cubs.”