Apr 6, 2012, 4:30 PM EDT
We’re still in love-fest territory when it comes to the Magic Johnson-Guggenheim partners bid for the Dodgers. Indeed, I just got a press release from the Dodgers’ PR people, announcing the team’s imminent emergence from bankruptcy, and talking about how important that bid is for the process:
“The centerpiece of the Amended Plan is the agreement by Guggenheim Baseball L.P. to pay $2 billion to acquire the equity of the reorganized debtors. This agreement is the culmination of an auction process that was conducted over several months and reflects the highest and best bid generated by that process. The successful auction process attracted numerous prospective purchasers and numerous proposals, all of which confirmed the substantial value of the Dodgers, the media rights associated with the team, and Dodger Stadium.”
And that’s great. But as Tom Verducci reports, it’s not all rosy. MLB and some of its owners are a little wary of Magic & Friends:
Major League Baseball officials have expressed concern that Guggenheim Baseball Management, the winning bidders for the Los Angeles Dodgers, has been slow to produce the details of the bid and the structure of its management team, according to several sources familiar with the sale process.
Several individual owners have joined baseball officials in questioning why the Guggenheim group, led by Mark Walter, Stan Kasten and Magic Johnson, has not filed a more detailed Purchase and Sale Agreement more than a week after the group was selected from among three finalists by Frank McCourt, the outgoing owner who is selling the club through U.S. Bankruptcy Court.
Now, MLB is not the party approving this sale, the bankruptcy court is. So perhaps this is just grumbling. Still, worth watching before anyone starts printing up Dodgers Magic Johnson jerseys.
Well, I guess you could and just tell everyone that they’re Reed Johnson jerseys, but still.
- Cliff Lee placed on DL with recurrence of flexor pronator strain 13
- Winners and losers at the trade deadline 17
- 2014 Trade Deadline Tracker 48
- ACES GALORE: The Rays trade David Price to the Tigers 134
- Red Sox trade John Lackey to Cardinals for Allen Craig and Joe Kelly 88
- The Lester trade is a win-win 112
- Jon Lester, Jonny Gomes heading to Oakland for Yoenis Cespedes 165
- The State of the Trade Deadline: Yesterday was pretty sleepy. Will general managers wake up today? 40
- “Caucasians” t-shirts are hot sellers on Canadian Indian reservations (199)
- Jon Lester, Jonny Gomes heading to Oakland for Yoenis Cespedes (165)
- ACES GALORE: The Rays trade David Price to the Tigers (135)
- Rangers’ retirement gifts for Derek Jeter: Yankees cowboy boots, signed George W. Bush photo (126)
- The Lester trade is a win-win (112)