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