December 20, 2014

The Richest Man in LA Joins Forces with Other Rich Guys in Bidding for Dodgers

Magic Johnson has to be bummed this evening as, per the all-knowing Bill Shaikin, Patrick Soon-Shiong (also known as the Richest Man in LA and part owner of the Los Angeles Lakers) has chosen to join billionaire Steve Cohen’s bid to buy the Dodgers.  Cohen’s a relative unknown in LA, so adding Soon-Shiong adds some LA muscle to his bid, and most likely some added cash to at least match the $1.6 billion that Magic’s group has bid so far (although Cohen has offered the most cash at $900 million).  And while it’s certainly exciting to see two guys that have such deep pocketbooks teaming up to bid on the Dodgers, like many fans, I’ve been rooting for Magic Johnson’s group to land Soon-Shiong, if only for a return to local ownership and a greater sense of loyalty with the fans.  Mark Oznian of Forbes recently reported on the arms race for dollars currently going on amongst the rich guys still in the running, including Magic’s group reportedly adding film producer Peter Gruber last week.

It just seems unfathonable to me that out of the collection of billionaires lining up for the Dodgers, none so far has seemed to be able to get McCourt to let go of the parking lots.  In the end, I’ll take any owner that is committed to this team, the fans and building a winner here in Los Angeles.  Spring officially starts tomorrow, and a new beginning for the Dodgers is just around the corner – April 30th can’t come soon enough.

Photo Credit: Lee Salem / Los Angeles Times