The bidding process has begun to enter its final phase, and more bidders have been cut from contention. Alan Casden was cut on Monday, and both the Stanley Gold/Disney and Leo Hindery/Tom Barrack groups have both been eliminated as well. Casden reportedly attempted to appeal the decision without success, and he reacted to his rejection in disappointment.
Magic Johnson’s group just added another addition to their bidding team to bolster their ranks. Howard Peter Guber is co-owner of the Golden State Warriors and experienced Hollywood executive and film producer who previously worked with Magic in starting his own movie theater chain. He is CEO of Mandalay Entertainment Group, and his successful films have garnered 50 Academy Award Nominations. Guber also owns several minor league baseball teams. He would hold a minority share of the Dodgers.
The remaining bidding groups still in the hunt are the following:
1. Magic Johnson/Stan Kasten/Mark Walter/Peter Guber
2. Steven Cohen/Arn Tellum
3. Stan Kroenke
4. Michael Heisley/Tony Ressler
A Forbes report stated that the Magic group sits on the highest bid at $1.6 billion. Steven Cohen bid $1.4 billion which includes $900 million in liquid assets. The other bids are at least $1.3 billion.
Both Stan Kasten and Steven Cohen were given tours of Camelback Ranch this week. Steven Cohen reportedly met with Tony La Russa in Arizona to discuss a possible job for him in the Dodger organization if Cohen buys the team. Since Tellem would be appointed president, La Russa may be head of baseball operations as part of Cohen’s plan. Remember, Steven Cohen has never stepped foot in Dodger Stadium.
Now the Major League owners will vote on the bidders, and Frank McCourt can review the final bids and negotiate with the bidding parties at will. He has until April Fool’s Day to make his decision.
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