03/13/12 10:45 AM ET
Report: Casden eliminated in Dodgers bidding
By Ken Gurnick / MLB.com
MLB ownership committees held meetings with bidders still in the running on Monday in Phoenix, and Casden was not invited. Current owner Frank McCourt, who is selling the team and ballpark as part of a bankruptcy reorganization plan, can appeal MLB's decision to a mediator.
Without Casden, there are six remaining bidding groups: hedge-fund manager Steven Cohen and agent Arn Tellem; Magic Johnson, Stan Kasten and Mark Walter from Guggenheim Partners; St. Louis Rams owner Stan Kroenke; Los Angeles investor Stanley Gold; Memphis Grizzlies owner Michael Heisley and Los Angeles investor Tony Ressler; and New York media investor Leo Hindery.
Casden nearly bought the Dodgers eight years ago, but there was a last-minute hangup and News Corp. turned to McCourt, selling the team and surrounding property for a reported $431 million. McCourt is expected to sell the team and stadium for more than $1.5 billion, even though he intends to keep the parking lot for future development.
Final bids are due Friday. The full ownership group must approve each bidder, then McCourt is required to select a winning bid by April 1, with the sale closing by April 30, the day he must pay former wife Jamie McCourt $131 million to settle their divorce.
Ken Gurnick is a reporter for MLB.com. This story was not subject to the approval of Major League Baseball or its clubs.