Tag:Magic Johnson
Posted on: February 9, 2012 12:57 pm

11 bidders for Dodgers revealed

By C. Trent Rosecrans

There are 11 groups that have advanced to the second round of bidding for the Dodgers, and the Los Angeles Times' Bill Shaikin has the entire list.

Here's Shaikin's list, taken from his story, with his notes on the bidders:
Magic Johnson/Stan Kasten: Could soon be joined by richest man in L.A., Dr. Patrick Soon-Shiong.

Rick Caruso/Joe Torre: Not out of the running in the Soon-Shiong sweepstakes.

Steven Cohen/Arn Tellem: Cohen about to invest $20 million in Mets, able to spend 75-100 times as much on Dodgers.

Stan Kroenke: Owner of NFL's St. Louis Rams could move L.A.'s football team back home.

Peter O'Malley: Former Dodgers owner backed by South Korean conglomerate E-Land.

Tony Ressler: Minority owner of Brewers has discussed partnership with O'Malley.

Leo Hindery/Tom Barrack: New York media executive has teamed with L.A. real estate investor and sportsman.

Stanley Gold/Disney family: That's the family of the late Roy Disney, Walt's nephew.

Jared Kushner: Publisher of New York Observer, son-in-law of Donald Trump.

Michael Heisley: Owner of NBA's Memphis Grizzlies hired Jerry West to run his team.

Alan Casden: USC Board of Trustees includes Dodgers bidders Casden, Caruso, Gold.
Shainkin writes that late bidders could still enter the field, but it appears to be set among this 11. Heisley, the owner of the Memphis Grizzlies also bid on the Cubs and the Minnesota Vikings of the NFL. The 75-year-old Chicago resident has said he'd be willing to sell the Grizzlies to a Memphis-based owner, but nobody has taken him up on it.

Shaikin has been the authority on the entire McCourt story and has just done amazing work. If you have the least bit of interest in the Dodgers' bidding and McCourt mess, he's a must-follow on the internet and on Twitter (@BillShaikin). I'm in awe of the work he's done on this story, as he's been ahead of the curve every step of the way and done some amazing reporting on the dollars, cents and sense of the entire story.

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Posted on: January 30, 2012 6:06 pm
Edited on: January 30, 2012 6:35 pm

Cuban explains losing out on Dodgers

By Matt Snyder

Dallas Mavericks owner Mark Cuban has now swung and missed three times on owning a baseball franchise. Cuban's latest attempt to join the MLB ranks was with the Dodgers, currently up for sale from Frank McCourt's ownership. Cuban was among the names eliminated from the preliminary bidding and is not a finalist. He spoke to Access Hollywood about why, and it sounds like he didn't want to move on as a finalist.

Dodgers in transition
“It just didn’t work out. I wanted to buy a baseball team; they were selling a media rights deal," Cuban said (Access Hollywood), alluding to the fact that the Dodgers' TV rights are up for sale and obviously a big part of the purchase price.

He then elaborated (Access Hollywood): “The economics got so out of control because the Dodgers’ TV deal’s up for bid and so there’s a lot of groups coming in going, ‘This TV deal’s worth so much money that we’re gonna pay whatever it takes to get the Dodgers.’ And so they’re buying the TV rights deal first and the team second,” Mark said.

It's a bit of a head-scratcher to come at it from this angle, because buying a baseball team is a huge package deal. Every team has TV rights. If they didn't, revenues would be a lot lower. Basically, Cuban's bid was far too low and he thinks the other bids are too high.

But anyway, that's Cuban's story. He's out. The biggest names left in the bidding are Magic Johnson, Rick Caruso (Joe Torre's group), Steven Cohen and the Disney Family.

Hat-tip: Bill Shaikin on Twitter

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Posted on: January 30, 2012 1:05 pm
Edited on: January 30, 2012 1:06 pm

Korean company among Dodgers bidders

By C. Trent Rosecrans

Korean retailer E-Land leads a consortium that is on the short list of Dodgers bidders, Yohap News Agency reported on Monday (via Reuters).

This weekend, the Los Angeles Times reported that at least eight bidders had advanced from the more than 12 initial bids. Already out include Mark Cuban, as well as the group including Steve Garvey and Orel Hershiser.

Dodgers in transition
Joining the Korean group in on the bidding is thought to believe a group led by Magic Johnson, another led by real estate developer Rick Caruso (that includes Joe Torre) and another by hedge fundmanager Steven Cohen.

The total cost is expected to be at least $1.5 million.

Major League Baseball has agreed to approve as many as 10 bidders, with Frank McCourt revealing the winning bid by April 1.

The Korean company wouldn't be the first Asian owners in baseball, Nintendo owns the Seattle Mariners.

Baseball is popular in Korea and its national team reached the finals of the last World Baseball Classic, losing to rival Japan in the championship game. Los Angeles also has a huge Korean American population -- more than 300,000, according to the 2009 American Community Survey.

The Dodgers also signed Chan-Ho Park, who was the first South Korean-born player in big league history when he debuted with Los Angeles in 1994.

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Posted on: January 28, 2012 11:13 am
Edited on: January 28, 2012 1:07 pm

Dodgers narrow bidding list; Cuban out

By Matt Snyder

The field of potential next Dodgers owners has been narrowed, and the list no longer includes Mark Cuban, reports Bill Shaikin of the Los Angeles Times. The Associated Press reports Cuban refused to say whether he was in or out while at his Mavericks' game Friday night. UPDATE: Shaikin has now tweeted that the Garvey-Hershiser group is also out of the bidding.
Dodgers in transition

Shaikin also has reported that "at least eight bidders have advanced in the bidding and are being called finalists (latimes.com), including the groups led by former Lakers superstar Magic Johnson, real estate developer Rick Caruso (his group includes Joe Torre) and hedge fund manager Steven Cohen.

The initial bids -- from more than 12 groups -- were submitted Monday to the financial firm handling the sale by current owner Frank McCourt.

"Each of the preliminary bids has been reviewed carefully by the Dodgers and its financial adviser Blackstone. Blackstone is notifying all of the bidders as to which ones will and which ones will not advance in the sales process," the Dodgers said in a statement.

"The preliminary round of bidding has underscored the robust nature of the sales process, the significant purchase opportunity which the Dodgers represent, and the enormous value that the sale of the Dodgers, including their media assets, will generate."

McCourt put the team in bankruptcy last year and reached an agreement with Major League Baseball to sell the team by April 30, the deadline for him to make a $131 million divorce payment to former wife Jamie McCourt.

CBSSports.com insider Jon Heyman reports that he's heard at least one bid is in the $1.5 billion range, so McCourt could end up approaching a sale price of $2 billion before it's all said and done.

Major League Baseball has agreed to approve up to 10 bidders while McCourt has agreed to reveal the winning bidder by April 1.

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Posted on: January 23, 2012 2:44 pm

Sorting through potential Dodgers bidders

By Matt Snyder

With the wildly unpopular Frank McCourt headed out the door, the Los Angeles Dodgers are for sale. Bids are actually due Monday and McCourt has agreed to make a decision by April 1.

Via Bill Shaikin of the Los Angeles Times, here is a list of the prospective bidders:

Magic Johnson/Stan Kasten: Kasten has been president of the Braves and is the Nationals' current president. And we all know what Magic means to L.A.

Joe Torre/Rick Caruso: The former Dodgers manager and current vice president of the MLB heads up the group.

Steven Cohen/Arn Tellem: Cohen, a hedge fund manager, is one of the richest men in America while Tellem is a high-profile agent.

Mark Cuban: The Dallas Mavericks owner finally got his championship last NBA season, so maybe it's time to get an MLB team? Note that he's tried in the past -- most famously with the Cubs -- to buy a team. It's just that past reports have indicated Bud Selig and several other owners don't want Cuban to join their club.

Tom Barrack: Shaikin reports Barrack has owned a japanese baseball team and a french soccer team in the past.

Ron Burkle: While he can't match Cohen, Burkle is also a member of the Forbes 400, sporting an estimated net worth of $3.2 billion. He's a part owner of the NHL's Pittsburgh Penguins.

Stanley Gold/Disney family: Gold is the president and CEO of Disney's private investment company. The Disney name doesn't really need any further explanation.

Peter O'Malley: The former Dodgers owner apparently wants back in.

Tony Ressler: He's an investor and minority owner of the Brewers.

Dennis Gilbert: The former agent lost out on the bidding for the Rangers.

Alan Casden: He's a self-made real estate developer in Beverly Hills, so that seems like a good fit. Shaikin reports, however, that "MLB wasn't comfortable" with Casden last time he placed a bid on the club.

Tom Golisano: He used to own the Buffalo Sabres of the NHL.

Fred Claire: He was the GM of the Dodgers from 1987-1998.

Steve Garvey/Orel Hershiser: Baseball fans are obviously familiar with the Dodgers connection here.

Fox or Time Warner: We know the TV money is big, but Shaikin reports neither group really wants the team -- they just don't want the other side to buy the team. So each might bid. Try untangling that web of logic.

The Field: The bidding process is not public, so it wouldn't be a total shock of the eventual Dodgers owner was a group or person not on this list.

While it's hard to tell how this entire process will shake out, it has to be a relief to Major League Baseball and Dodgers fans that the next owner is simply going to be ABFM (Anyone But Frank McCourt).

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Posted on: December 2, 2011 2:36 pm

Magic Johnson wants to buy the Dodgers

Magic Johnson

By C. Trent Rosecrans

At the very least, the Dodgers will have no shortage of famous names looking to own the team, as basketball Hall of Famer Magic Johnson announced on Twitter that he has teamed with Mark Walter and former Braves and Nationals president Stan Kasten to make a bid on the team.

Johnson tweeted this on Friday:


Walter is the real money in the group, with Johnson and Kasten lending the star power.

Other groups interest in the Dodgers include Mark Cuban and a group including former Dodgers Steve Garvey and Orel Hershiser. Peter O'Malley, whose family moved the Dodgers to Los Angeles, has also said he wants to buy the team, too.

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Posted on: August 2, 2011 8:28 pm
Edited on: August 3, 2011 6:59 am

Magic Johnson interested in buying Dodgers?

By Ben Golliver magic-johnson

Back in October, Los Angeles Lakers legend Magic Johnson sold his stake in the team. Within weeks, rumors surfaced that the Basketball Hall of Famer was interested in owning another NBA team or perhaps bringing the NFL back to Los Angeles.

It's been nearly a year and nothing substantive has developed on the basketball and football fronts. But do Major League Baseball's Los Angeles Dodgers represent a potential new target?   

The Dodgers have dealt with all sorts of financial problems recently, culminating in a filing for bankruptcy protection in June. The team's owner, Frank McCourt, is in a fairly desperate situation and a deep-pocketed celebrity with local connections like Johnson would seem like a dream candidate to take the team off of his hands.

Johnson, who happens to own a stake in a minor league baseball team, was asked about his interest in the Dodgers at a recent forum hosted by Los Angeles Times writer Bill Plaschke at Loyola Maramount University. 
"If the Dodgers ever came up for sale," Johnson said. "Would I take a look at it with some other people? Of course you would look at it. Because the brand is so strong. As we speak today, they do have an owner. It's never good to talk about an organization that already has an owner. I will say this: the Dodgers brand is amazing. The O'Malley family were great owners."

The O'Malley family owned the Dodgers from the organization's time in Brooklyn through to 1998, when the family sold to News Corporation, which in turn sold the team to the McCourts in 2004. Under the O'Malley family, the Dodgers appeared in the World Series nine times after the move from Brooklyn, winning five titles, including two in the 1980s. 

Johnson clearly remembers that legacy of winning. 

"When I hit this town over 30 years ago, the Lakers were on Page 3," Johnson said. "The Dodgers were on the front page of Sports. This was a Dodgers town. It was amazing the run the Dodgers had when I first hit this town. This town has a love affair with the Dodgers that was amazing. [Former manager Tommy] Lasorda was probably the most special, colorful manager, he knew baseball. It was a special time. I was always wondering, 'When will the Lakers get on the front page of the L.A. Times?' We had a lot of work to do. We sure won this town over. I remember when the Dodgers were the team."

So, will Johnson decide to turn the team into his team? 

Here's the video of Johnson's comments courtesy of YouTube user losangelestimes.

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Posted on: April 29, 2011 8:06 pm

Big names interested in Dodgers?

Magic JohnsonBy C. Trent Rosecrans

Two of the most famous names in Los Angeles sports history -- O'Malley and Magic -- are reportedly interested in purchasing the Dodgers.

Peter O'Malley, who started this mess by selling the Dodgers to Fox in 1998, reportedly has two big investors lined up to buy the team and he'd run, according to David Vassegh of KLAC-AM. Vassegh cited a "prominent Dodgers executive" as the source.

The O'Malley family, of course, brought the Dodgers to Los Angeles following the 1957 season.

The other interested party may be former L.A. Laker Magic Johnson, who told SiriusXM hosts Steve Covino and Rich Davis that he might be interested (via the Los Angeles Times' Steve Dilbeck).

"You know, people here in L.A. want me to make a run for the Dodgers," Johnson said. "I will sit back and see what happens, and if somebody approaches me and wants a partner or wants me to be involved, I'll take a look at it. 'Cause I love baseball. And I love the Dodgers."

Last year Johnson raised nearly $100 million by selling his minority share in the Lakers and his Starbucks franchises. At the time, he was looking at joining a group trying to bring the NFL back to Los Angeles and told the Times he had no interest in buying the Dodgers.

With MLB running the team, expect more names to pop up, but these two names at least make good headlines.

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The views expressed in this blog are solely those of the author and do not reflect the views of CBS Sports or CBSSports.com