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.”
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.