By Rick Horrow and Karla Swatek
December 30, 2011
Mark Cuban will once again fail in his quest to purchase a Major League Baseball franchise.
Instead, the Los Angeles Dodgers will be purchased by a consortium packed with baseball insiders, with the groups led by, first, veteran sports executive Stan Kasten, Guggenheim Capital CEO Mark Walter, and L.A. icon Magic Johnson and second, the team of billionaire investment banker Steven Cohen and influential sports agent Arn Tellem having the inside track.
Cohen and his team are among the first bidders submitted to MLB for vetting, according to baseball insiders. Initial bids for the Dodgers are due January 13; under the bankruptcy sales process, the league can approve up to 10 bidders, with McCourt granted the right to conduct an auction and select the winner.