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Bidding groups for La Dodgers consider joining forces
Two bidders said discusses possible group mergers were ongoing. Both of them spoke on condition of anonymity because Blackstone Group, that is handling the sale for owner Frank McCourt, built them into sign nondisclosure agreements.
''It will be a shock when they don't start talking merger,[link widoczny dla zalogowanych],'' said Marc Ganis, president of the Chicago-based consulting firm Sportscorp,[link widoczny dla zalogowanych], which is not involved. ''I think we'll obtain a half-dozen parties that come within the bid,[link widoczny dla zalogowanych], plus or minus one.''
Blackstone will analyze all of the initial bids and then select up to 10 perhaps this week but maybe alongside forward to Major League Baseball,[link widoczny dla zalogowanych], which already has started due diligence on some. Those picked be forced to pay MLB $25,[link widoczny dla zalogowanych],000 to cover the costs of baseball's investigation.
The actual cash paid inside a sale figures to become depressed through the team's debt, which stands at $573 million, according to a filing in US Bankruptcy Court last Friday. Due to the debt,[link widoczny dla zalogowanych], the cost may not top the record price for a baseball franchise,[link widoczny dla zalogowanych], the $845 million paid by the Ricketts family for that Chicago Cubs last year.
Even then the amount of cash needed is huge, and baseball likely will be cautious about the leverage allowed to the incoming owners.
former La Lakers star Magic Johnson,[link widoczny dla zalogowanych], former Atlanta Braves and Washington Nationals president Stan Kasten and Guggenheim Partners ceo Mark Walter
former La Dodgers manager Joe Torre and property developer Rick Caruso
former Dodgers owner Peter O'Malley
the family of the late Roy E,[link widoczny dla zalogowanych]. Disney and Stanley Gold of Shamrock Holdings,[link widoczny dla zalogowanych].
O'Malley has discussed combining with the Disney-Gold group,[link widoczny dla zalogowanych], as first reported a week ago through the La Times,[link widoczny dla zalogowanych], and O'Malley may be speaking with others.
former Dodgers gm Fred Claire, former Oakland Athletics president Andy Dolich and former Dodgers batboy Ben Hwang,[link widoczny dla zalogowanych], who introduced the financial backers
former Dodgers stars Orel Hershiser and Steve Garvey, and Joey Herrick of Natural Balance Pet Foods.
There are also people who may be interested:
Dallas Mavericks owner Mark Cuban
Pittsburgh Penguins owner Ron Burkle
Real estate developer Alan Casden,[link widoczny dla zalogowanych], who investigated bidding for that Dodgers in 2003.
''I can't comment on that whatsoever,[link widoczny dla zalogowanych],'' Cuban said Monday prior to the Mavs' game against Phoenix.
''At this point, what you are trying to do is cull the herd,'' Ganis said. ''All the eye had been a good thing for McCourt,[link widoczny dla zalogowanych], but it is been an easy cheap way for anyone in LA who desires some publicity and it has a couple of shekels to get their name in media.''
Joshua Macciello,[link widoczny dla zalogowanych], a 36-year-old former Brooklynite and current Californian, said he was bidding. He is CEO of ArmItal Inc., which he says makes property and mineral mining investments.
''I have a ZZ Top type of goatee,[link widoczny dla zalogowanych],'' he said. ''I don't seem like the traditional three-piece-suit kind of hedge fund guy.''
Additionally, several people active in the bidding said they doubted that anyone with the finances to buy the team would be prevented from bidding even if they didn't make themselves known to Blackstone before the deadline.
Based on a statement of disclosure filed Friday using the team's reorganization plan in the bankruptcy court,[link widoczny dla zalogowanych], the Dodgers are $573 million indebted: $368 million with Dodgers Tickets LLC, $150 million with Los Angeles Dodgers LLC and $55 million with Dodgers Club Trust. The 3 are subsidiaries of the team's parent holding company.
McCourt would be to select the winning bid by April 6, with the sale to shut by April 30.
A lot of the purchase price figures for use to pay for on the debt. Of the money left over,[link widoczny dla zalogowanych], McCourt be forced to pay a $131 million divorce settlement to Jamie McCourt by April 30 and will have substantial capital gains taxes. He bought the Dodgers, the ballpark and 250 acres of land that include the parking lots in the FOX division of Rupert Murdoch's News Corp. in 2004 for $430 million.
While the parking lots and land surrounding Dodger Stadium aren't included in what initially has been offered available, bidders are likely to want those included in any deal simply because they wouldn't want to acquire the team after which have McCourt as landlord from the surrounding property. If the land is roofed will impact the value.
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