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Billionaire hedge fund manager Steven Cohen is going to bid on the Dodgers

Dec 28, 2011, 6:39 AM EDT

Hedge fund manager Cohen, founder and chairman of SAC Capital Advisors, responds to a question during an interview at the SALT Conference in Las Vegas

If I had $8 billion to my name, you can pretty much assume that I’d be buying a baseball team. Don’t care which one, even. I’d buy one and hire all of my baseball man-crushes to run it and/or play for it and I’d sit in the owner’s box with the kind of women who like to hang out with octbillionaires while eating and drinking like I was a Roman emperor and there’s nothing you could do to stop me.

Connecticut-based hedge fund manager Steven Cohen has eight billion dollars. He may not have the same vision I have about how he’d behave as a baseball owner, but he certainly wants a baseball team. Or so says the L.A. Times. And he is serious about it:

Steven Cohen, a billionaire eight times over, is bidding for the Dodgers in a process tilted toward the high bidder. However, the East Coast hedge-fund executive is not content to let his wealth speak for itself. He has engaged one of America’s notable sports architecture firms to propose renovations to Dodger Stadium, allied himself with one of baseball’s power brokers, secured the support of at least two prominent Angelenos and met with several major league owners.

The power broker in question is agent Arn Tellem, who insiders think would run the Dodgers in some way, possibly as team president, if Cohen wins the auction for the team.

Cohen was last heard of in baseball circles back in April when he was said to be considering buying into the Mets. That never went anywhere, probably because guys with that kind of money and power typically don’t care to take a non-controlling interest in companies. Owning the Dodgers, however, is a different thing altogether.

Also a different thing: Cohen’s company, SAC Capital Advisors, has been in the news this year as a result of having two of its fund managers plead guilty to insider trading. Cohen has not been implicated, nor has the company as a whole, but there have been subpoenas and things and that kind of thing is always a mess.

It remains to be seen if that would cause Major League Baseball any headaches.  Though, as the article says, given that the Dodgers are being sold at auction, the league has a slightly smaller role to play in approving bidders than it normally would, with Frank McCourt having recourse to the bankruptcy court if he feels MLB is unreasonably withholding approval of a potential buyer.

  1. koufaxmitzvah - Dec 28, 2011 at 7:14 AM

    The first step to owning the Dodgers should be to make sure Frank McCourt doesn’t hold onto the parking lots. I don’t care if the new owner is an octobillionaire or an octopus, if FMC keeps the parking lots (or anything else he had restructured into a separate entity from the actual team) then the boycott will continue.

    Extra props to the new owner of the Dodgers for special clauses in the deal that involves tar and feathering FMC and parading him down Sunset Blvd during Cinco de Mayo.

  2. oldpaddy - Dec 28, 2011 at 7:38 AM

    I’m sooooooo happy selig blocked McCourt from buying the Red Sox.
    I’ll take chicken, beer and a guerilla suit over that mess any day.

    • Francisco (FC) - Dec 28, 2011 at 9:42 AM

      Guerilla suit? Did I miss a post on a Red Sox team member dressing up as Fidel Castro or Che Guevara in the dugout last September?

      • mondogarage - Dec 28, 2011 at 9:50 AM

        Well, the Youk has looked a bit chin scraggly at times.

      • cur68 - Dec 28, 2011 at 9:55 AM

        Hey, he forbore all comment involving Howard Stern’s wedding tackle, so lets not get too picky with the Mick.

  3. cur68 - Dec 28, 2011 at 10:02 AM

    So we start our day off with lifestyles of the Octobillionaires do we? Ok then, I’ll bite. If I was an octo-bil I’d spend my days in humble servitude to my fellow human, doing good works while inventing cures for things…well actually I’d buy the rights to Bevis & Butthead, Ren & Stimpy & Jessica Rabbit and self produce the greatest comic strip movie known to man…which, as I look that over, seems to be 2 very similar, laudable endeavors. Then I’d buy The Mets, move them to Vancouver, rename them the Beavers and set about buying up the rights of the 4 best starting pitchers available: a recipe for sure fire success.

    • Charles Gates - Dec 28, 2011 at 10:29 AM

      Then sign Mike Trout, call him Kilgore instead, and have your marketing slogan be ‘Wide Open Beavers,’ which ties in nicely to Beavis and Butthead etc.

      • hank10 - Dec 28, 2011 at 11:00 AM

        You said ‘Beavers’. Hehe..heh..hehheh…heheh…

      • foreverchipper10 - Dec 28, 2011 at 11:58 AM

        Yay Vonnegut!

  4. jwbiii - Dec 28, 2011 at 12:12 PM

    Steve Cohen would be, by far, the wealthiest person to own a baseball team. Forbes puts his worth at $8.3B. Hiroshi Yamauchi is next at $4.2B.

    Obviously, the owners of corporate owned teams have higher market caps (Rogers, $20.2B; Liberty Media, $11.9B)

  5. birdman6824 - Dec 28, 2011 at 12:52 PM

    Magic Johnson ? First time I’ve seen that one.

  6. ta192 - Dec 28, 2011 at 9:01 PM

    Sounds like just the kind of owner that baseball needs. Right.

  7. pogodog7 - Dec 29, 2011 at 2:48 PM

    It never amazes me to see people who become extremely wealthy without actually producing anything.

    • jimeejohnson - Dec 31, 2011 at 2:13 PM

      Be careful, or you’ll upset all the useful idiots (i.e. Republicans) who serve these pencil pushers.

  8. martyb59 - Dec 29, 2011 at 5:21 PM

    Hasn’t the Dodgers organization had it’s fill of east coast (or is it New England) businessmen types? Isn’t a Hedge Fund manager another name for a professional gambler?

  9. tn16 - Dec 30, 2011 at 1:35 AM

    The dodgers could have a Paid roll like the Yankees

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