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Dodgers bidders cut to Cohen, Magic, Kroenke

March 23, 2012|By Bill Shaikin
  • Magic Johnson
Magic Johnson (Kathy Willens / AP )

The field of Dodgers bidders was cut to three on Friday, and a winner could be identified as soon as next week.

The three finalists: a group led by hedge-fund billionaire Steven Cohen and Los Angeles billionaire and philanthropist Patrick Soon-Shiong; a group led by Magic Johnson and veteran baseball executive Stan Kasten; and St. Louis Rams owner Stan Kroenke.

The parties eliminated: a partnership between Memphis Grizzlies owner Michael Heisley and Los Angeles investor Tony Ressler; and a bid by Stanley Gold and the family of the late Roy Disney.

Major league owners are set to vote on the three remaining bidders early next week. Final negotiations will then take place with McCourt and Blackstone Advisory Partners, the investment bank brokering the sale.

McCourt has agreed to identify a winning bidder by April 1, although he has until April 6 to present a sale agreement to the U.S. Bankruptcy Court.

Bloomberg first identified the three finalists.

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Dodgers bidders cut to Cohen, Magic, Kroenke

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