Dear Valued Visitor,

We have noticed that you are using an ad blocker software.

Although advertisements on the web pages may degrade your experience, our business certainly depends on them and we can only keep providing you high-quality research based articles as long as we can display ads on our pages.

To view this article, you can disable your ad blocker and refresh this page or simply login.

We only allow registered users to use ad blockers. You can sign up for free by clicking here or you can login if you are already a member.

SAC Capital’s Steve Cohen Rumored to be Bidding for LA Dodgers

Steve Cohen, founder and manager of the prominent SAC Capital Advisors, rumored to be “bidding for the Los Angeles Dodgers,” reports Bloomberg. It is his second attempt this year to buy a piece of the Major League Baseball team.

Cohen is really aggressive about this venture and has already made certain inroads. Bloomberg reports he has been “working with Steve Greenberg, a managing director at Allen & Co., and has hired the architectural firm Populous to look at the possible renovation of Dodger stadium… He’s also met with sports agent Arn Tellem.” SAC CAPITAL ADVISORS

It is rumored that Tellem would manage the Dodgers if Cohen wins his bid.

“The Dodgers, who have won six World Series championships, filed for bankruptcy on June 27,” writes Bloomberg. “Last month, Frank McCourt, the team’s owner, agreed to sell. Bids are due on Jan. 13. At the time of the bankruptcy, sports bankers said the Dodgers may fetch up to $1 billion.” Cohen will be bidding against the Guggenheim Partners Chief Executive Officer Mark Walter and Basketball Hall of Fame member Magic Johnson, amongst others.

Cohen’s bid for the Dodgers is not his first foray into Major League Baseball. He bid earlier this year for a stake in the New York Mets but was beat out by another hedge fund manager, David Einhorn. Eventually, both Cohen and Einhorn walked away from the deal.

Loading...