Major League Baseball keeps weeding out bidders for the Dodgers and now we are down to four, reports the L.A. Times:
- The Stan Kasten-Magic Johnson group;
- Hedge fund billionaire Steven Cohen;
- St. Louis Rams owner Stan Kroenke; and
- Memphis Grizzlies owner Michael Heisley and a financier named Tony Ressler, who is also a minority investor in the Milwaukee Brewers.
True fact: Steven Cohen’s real first name on his birth certificate is “Hedge Fund billionaire.” His parents truly believed in destiny, and in his case it worked.
Anyway, all of these bids have been reported to be seriously moneyed (i.e. not overly-leveraged like Frank McCourt), with some of them having close to a billion dollars in cash alone, with overall bids ranging between $1.3 and $1.6 billion, which would make the Dodgers the largest sports franchise sale in history.
Imagine what they’d be worth if Frank McCourt hadn’t chopped them into little pieces and drove the brand into the ground.