Blog Entry

Dodgers narrow bidding list; Cuban out

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

Since: Jul 9, 2009
Posted on: January 31, 2012 10:56 am
 

Dodgers narrow bidding list; Cuban out

I am sorry to say that MLB wants Joe Torres group to get this Franchise.

They may want it, but that doesn't necessarily mean they're going to get it. Remember, it's not entirely up to MLB or the other owners--for the present, the final say is with the Bankruptcy Court.




Since: Jan 18, 2012
Posted on: January 31, 2012 6:50 am
 

Dodgers narrow bidding list; Cuban out

I am sorry to say that MLB wants Joe Torres group to get this Franchise.


Probably the best group to buy this would be the FOX group.  They would have plenty of money to spend.  



Since: May 17, 2008
Posted on: January 30, 2012 5:31 pm
 

Dodgers narrow bidding list; Cuban out

The bottom line is that Selig and MLB do not want Cuban to own an MLB team
If Major League Baseball had wanted Cuban to be considered for ownership, it would have kept him on the list.   Major League Baseball has pushed Mark Cuban and his checkbook aside at least three times now that we know of.

Round 3 -- sale of the Dodgers 2011-12?  Cuban was in the first round of bidding but, for whatever reason, was not invited to continue with the process.  What could that reason be?  It can't be the money.  According to Forbes Magazine, the guy's worth $2.5 billion ?
Pay attention --MLB has not yet been involved in who advances.  That was strictly up to McCourt (through Blackstone)and if Cuban was one of the top 10 bidders there is no way McCourt would not have advanced him as we all know McCourt is only interested in how much money he can make. (1) Cuban already said he was "not interested at $1billion" and we know initial bids went as high as $1.5billion and the second round may go higher -- Cuban most likely then bid less than $1billion and little enough that he was not in the top 10 that were to be sent to MLB for background checks etc. (2) yes Cuban has a net worth of $2.5 billion, but that is not all cash -- probably a $600 to $700 million of that is the Dallas Mavericks, then there is his various stocks, bonds, real estate etc-- a lot of the money is probably "on paper" and not cash AND there would be a limit on how much cash, even if Cuban was willing to spend $1.5billion or more to buy the Dodgers--he's not, for example, going to sell the Mavericks to generate cash, nor probably be willing to borrow heavily etc -- the less cash you're putting in, the more financing, the less likely you are MLB is to give final approval when we get to that point. 

That puts Cuban at a disadvantage despite his net worth -- the principal in Magic's group, for example, controls some $35billion in assets to Cuban's access to $2.5billion, so who can lay out more cash for the Dodgers? Cuban needed two things -- a willingness to bid apparently at least $1.5billion AND an ownership group to help him do it.

Cuban is out at this point not because MLB doesnt like him, but because he wouldn't or couldn't bid enough to be in the top 10 bidders of the initial bids.



Since: May 17, 2008
Posted on: January 30, 2012 5:19 pm
 

Dodgers narrow bidding list; Cuban out

Magic is said to be still in the running, his net worth is chump change compared to Cuban. 
So what, this is not about 1 man's "net worth" at least not in Magic's case.  Look around, every group, at least the one's that advanced, are just that, a "group" of investors and the group Magic is with has control over far more money that Cuban has---if any of these groups get the Dodgers they all have plenty of money to make the Dodgers are top team again, as long as they are willing to spend it unlike McCourt.




Since: May 17, 2008
Posted on: January 30, 2012 5:14 pm
 

Dodgers narrow bidding list; Cuban out

this funny to e. the boys at the gentlemen's club do not want to let little mark in their clubhouse
I really don't think this is the case here -- Cuban said he would not be interested at $1billion, so we can assume he bid less than that (how much less we don't know, but it sounds like Cuban was only interested if he got a "bargain" and the Dodgers are simply not selling at a "bargain" price).  Now if you figure a high bid in the $1.5billion range as the article says, and multiple other bids in the $1billion - $1.2billion range as I have read elswhere the truth is that Cuban simply did not bid enough money to advance in the bidding process.  Its not "anti-Cuban, its just that Cuban did not want the Dodgers bad enough and/or apparently undervalued what they were worth on the open market.



Since: Apr 21, 2009
Posted on: January 30, 2012 3:06 pm
 

Dodgers narrow bidding list; Cuban out

Good, now if only Cuban would buy out the Wilpons.....



Since: Nov 18, 2007
Posted on: January 30, 2012 7:31 am
 

Dodgers narrow bidding list; Cuban out

Surprised Selig let Cuban hang around this long in the process.



Since: Dec 30, 2006
Posted on: January 29, 2012 11:20 pm
 

Dodgers narrow bidding list; Cuban out

I rarely make a comment on another persons post but I have a few question or comments. 1. Is the caps lock button not working? 2. Did you not read what you typed? 3. If it wasn't on a computer I would think you used a typewriter in the dark. 4. Are you just messing with us and this is some new form of Pig-Latin.



Since: Dec 30, 2006
Posted on: January 29, 2012 11:17 pm
 

Dodgers narrow bidding list; Cuban out

I rarely make a comment on another persons post but I have a few question or comments. 1. Is the caps lock button not working? 2. Did you not read what you typed? 3. If it wasn't on a computer I would think you used a typewriter in the dark. 4. Are you just messing with us and this is some new form of Pig-Latin?



Since: Dec 7, 2011
Posted on: January 29, 2012 8:48 pm
 

Dodgers narrow bidding list; Cuban out

this funny to e. the boys at the gentlemen's club do not want to let little mark in their clubhouse. sligmust not like him, and also he kniows where his breadis buttered. if he wants to stayhe has to geep in the good graces of some of the more powerful owners. or a combination of both. 


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