March 28, 2012 |
Former Dodgers owner Peter O'Malley, who made an unsuccessful bid to buy back the franchise his family ran for nearly half a century, said Wednesday he was delighted that a group fronted by Lakers legend Magic Johnson would become the new owner of the Dodgers. "I've always said I want it in the right hands," O'Malley said. "It doesn't have to be my hands. " O'Malley had publicly faulted outgoing owner Frank McCourt for tarnishing the Dodgers' name in the community. "What I really like about Magic's involvement is that Magic is so popular here in Los Angeles," O'Malley said.
February 8, 2012 |
The bidding on the Dodgers has moved into the second round, with 11 parties cleared to advance in the process. With various bid groups discussing mergers and/or trying to acquire additional financing, and with the investment bank handling the sale receptive to substantial offers even at this late date, the list below is subject to change. The lineup of Dodgers bidders, as of Wednesday: Magic Johnson/Stan Kasten: Could soon be joined by richest man in L.A., Dr. Patrick Soon-Shiong.
January 30, 2012 |
Peter O'Malley's bid to buy back the Dodgers is supported by financing from the South Korean conglomerate E-Land, two people familiar with the Dodgers' sale process said Monday. If the O'Malley bid is successful, E-Land Chairman Song Soo Park will become a major investor in the Dodgers, one of the people said. The ownership group also would have investors from Los Angeles. O'Malley has had discussions with Tony Ressler, a minority owner of the Milwaukee Brewers and co-founder of Los Angeles-based Ares Capital, according to a person familiar with the talks.
January 28, 2012 |
On the day after Frank McCourt agreed to sell the Dodgers, billionaire Ron Burkle issued a statement that indicated he would consider buying the team. "It is one of the best brands in all of sports," Burkle said. "And, like many people, I'd be very proud to be a part of its future. " Burkle did not bid on the Dodgers, but he might still play a part in the future of the team. With the opening round of bidding concluded, Burkle might consider backing groups led by Rick Caruso or Stanley Gold, according to a person familiar with the sale process but not authorized to discuss it. McCourt and his bankers cut the list of prospective owners Friday.
January 25, 2012 |
Eight years ago this week Bob Daly , you know, the Movie Guy, joined Fox in selling the Dodgers to Frank McCourt . "We made a horrible mistake," says Daly. "We didn't realize what a bad guy he was. " Daly had been a success at CBS for almost 25 years, another 20 as head of Warner Bros. before buying an interest in the Dodgers. He became managing partner after Fox initially floundered in running the operation. Under Daly's four-year watch, the team finished 50 games above .500.
January 23, 2012 |
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.
January 22, 2012 |
Who's the front-runner in the Dodgers' ownership sweepstakes? It is impossible to say, since not all bidders have been identified publicly and mystery billionaires could be lurking. With opening bids due Monday, here's a look at prospective bidders who have been identified publicly: Magic Johnson/Stan Kasten: Championships in L.A.: Magic 5, Dodgers 5. Joe Torre/Rick Caruso: They're using money from banker most trusted by Warren Buffett. Steven Cohen/Arn Tellem: Cohen could buy Dodgers for $2 billion, still have $6 billion in net worth.
January 4, 2012 |
Joe Torre entered the Dodgers sweepstakes on Wednesday, joining forces with developer Rick Caruso in a bid to buy the city's beloved baseball team. The Dodgers ownership derby is fast becoming the most intriguing reality show in Los Angeles, with athletic legends, civic icons and assorted billionaires jockeying for control of a team mired in bankruptcy proceedings. Magic Johnson is in. Mark Cuban, owner of the NBA champion Dallas Mavericks, is in. Steven Cohen, a billionaire eight times over, is in. Dennis Gilbert, the onetime agent for Barry Bonds and champion of amateur baseball in Southern California, is in. Ron Burkle and Tom Golisano, billionaires with experience as National Hockey League owners, are in. Peter O'Malley, the owner when the Dodgers last won the World Series in 1988, is in. So are Fred Claire, the general manager that year, and Orel Hershiser, the star pitcher that year — but the three men are in separate groups.
December 6, 2011
The roster of aspiring Dodgers owners started growing even before the beleaguered Frank McCourt announced that he was willing to sell. Billionaire businessmen, owners of other sports teams, former Dodgers players and venerable former owner Peter O'Malley have all signaled their interest. Now Magic Johnson, the NBA legend turned successful businessman, has stepped up to the plate. The former Lakers star has assembled an impressive mix of backers with plenty of money as well as baseball executive expertise.
December 5, 2011 |
The NFL doesn't play here, the best college football team in town can't go to a bowl game and, for a while longer, they're not playing basketball at Staples Center. But there is a high-stakes fight being waged locally between a couple of heavyweights. It's Fox versus Time Warner, and the winner will take home a big trophy: the majority of sports viewers in the nation's second-biggest media market. Time Warner, which will launch English- and Spanish-language 24-hour sport channels next year, has already stolen the Lakers away from Fox Sports West in a 20-year, $3-billion deal that begins in the 2012-13 season.