Tuesday, January 24, 2012

Caveat Emptor

The list of the Dodgers bidders, as reported by multiple sources. According to Tony Jackson, there's only two confirmed bids and at least ten other bids waiting in the wings:

The Blackstone Group, the global investment firm that is handling the sale for McCourt, was expected to receive somewhere in the neighborhood of 20 bids, although one source close to the situation said that number could vacillate.

As the deadline passed, there were only two confirmed bids:

• Dennis Gilbert, the Beverly Hills insurance agent and founder of the Beverly Hills Sports Council who also serves as a special assistant to Chicago White Sox owner Jerry Reinsdorf, confirmed that his group, which is largely financed by Imperial Capital chairman and chief executive officer Jason Reese, placed a bid.

• Joshua Macciello, CEO of ArmItal Sports Inc., issued a news release through his company stating that he also had made what Macciello characterized in that release as "a more than fair and considerable offer to both Frank and Major League Baseball."

Also, a group headed by Los Angeles Lakers legend Magic Johnson and primarily funded by Guggenheim Partners chief executive officer Mark Walter placed a bid, according to a source close to that group who spoke on the condition of anonymity.

In total, there were more than 10 opening bids, the Los Angeles Times reports, citing an anonymous source. Among those who got their bid in before Monday's deadline were: Dallas Mavericks owner Mark Cuban; hedge fund giant Steve Cohen; former Dodgers owner Peter O'Malley; developer Rick Caruso and Joe Torre; investor Stanley Gold and family of the late Roy Disney; and Dennis Gilbert, Jason Reese and Randy Wooster, according to the Times.

Former Dodgers general manager Fred Claire -- who has been linked to a group that includes Bay Area sports consultant Andy Dolich, a former high-level executive with the Oakland Athletics, Golden State Warriors, Memphis Grizzlies and San Francisco 49ers -- declined to say whether his group had submitted a bid, citing confidentiality agreements all prospective bidders signed when they received bid books.

So, just to keep track of the consortiums reported by different sources--which at this stage count 10:

  • Gilbert / Reese / Wooster (confirmed)
  • Macciello (confirmed)
  • Cuban
  • Cohen
  • O'Malley
  • Caruso / Torre
  • Gold / Disney
  • Magic Johnson / Stan Kasten / Mark Walter (reported by John Heyman)
  • Stan Kroenke (reported by Bill Shaikin)
  • Leo Hindery / Marc Utay (reported by the WSJ)

Unconfirmed, but mentioned in recent months (from the WSJ:

  • Claire / Dolich / Ben Hwang
  • Garvey / Hershiser / Herrick
  • Ron Burkle

Groups can of course still combine forces a la the Wonder Twins.

6 comments:

Hideo Nomo said...

Ugh. Frank's going to pick Macciello, just to troll us all one last time.

Dusty Baker said...

Number vacillation...cool.

I was thinking the same thing, Nomo.

Mr. LA Sports Czar said...

Caveat Emptor. Why does that sound so familiar?..

Greg Hao said...

>>Joshua Macciello, CEO of ArmItal Sports Inc., issued a news release through his company stating that he also had made what Macciello characterized in that release as "a more than fair and considerable offer to both Frank and Major League Baseball."<<

That sounds like a low-ball bid.

Greg Hao said...

@hideo - I'm the last to defend Frank McCourt but I don't believe that he bears any malice towards the Dodgers and its fans. I'm sure he does truly have the best interest of the organisation in his mind. It's just that it's much lower on the list of priorities for him than "Frank's gonna get Frank's".

Franklin Stubbs said...

Who uses a latin pun for the title to their blog? What a tool he is.