The Breakdown

Explaining Southern California's economy

Dodgers sale: And then there were three...

27414 full
27414 full

Let's just call this an update. There were four groups bidding for the Los Angeles Dodgers. That number has been cut to three, as Michael Heisley, owner of the Memphis Grizzlies, has been eliminated.

This leaves:

•Billionaire hedge-fund king Steven Cohen (along with partners Arn Tellem, Tony La Russa, and L.A. billionaire Patrick Soon-Shiong) and his essentially all-cash offer, estimated at $1.4-$1.6 billion.

Magic Johnson and Stan Kasten, along with partner Peter Guber, who owns the Golden State Warriors. Their $1.6-billion bid brings far less cash to the table than Cohen's. Instead, it relies on financing through Guggenheim Partners — and it's unclear whether that funding is as stable as it was when Magic & Co. entered the process.

Stan Kroenke, owner of the St. Louis Rams. The Rams are a factor here, as Kroenke might — might — relocate the team to L.A. to support the Farmers Field Downtown NFL stadium project being developed by AEG. He would have to figure out how to convince Major League Baseball that he intends to NOT own both teams in the same market. AP says that Kroenke can match Cohen's funding. I doubt it. Forbes estimates his net worth at $3.2 billion, less than half of Cohen's $8 billion.

It appears that the Disney family bid, which was rejected but restored on appeal, has been rejected again.

The clock is rapidly ticking. MLB's owners will vote on these groups this week, and then Frank McCourt, the Dodgers' owners, will conduct a final auction in time to seal the deal by April 1. His best bet is obviously Cohen, but Magic remains the local favorite. 

KPCC will update as soon as information becomes available.

Follow Matthew DeBord and the DeBord Report on Twitter.

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