South Korean investors bidding for Los Angeles Dodgers – MLB News
Recently, reports are coming in the media that some South Korean investors are also showing great interest in buying Los Angeles Dodgers. These investors are joining hands with Peter O’Malley, the former owner of Dodgers.
A bulletin board contributor wrote earlier that, “If an outsider could purchase a Major League Baseball team, then Chinese companies would've gotten their hands on it already, why won't they invest in finding a new Korean Baseball team instead? Having a hand in the Dodgers will allow Korean players to more easily make the jump. Its good marketing.”
This reaction was published by some other very popular journals as well, but the point here is as who has approximately over $1 billion to purchase this franchise. The US state law does not allow any outsider to own an American team.
This late reaction by fans is somehow understandable as how someone can negate the state laws and start bidding for franchises even backed by some American citizen. Because in slight everyone knows that these Korean investors are playing their bids as they have got the support of former owner Peter O’Malley.
In the meanwhile, the Dodgers bidding process has grown intense and entered into another round of bidding. Last week, the Dallas Mavericks owner Mark Cuban was eliminated from potential race of buying the Dodgers. Lately, the National Football League franchise St. Louis Rams’ current owner Stan Kroenke has also put his money for the Dodgers’ ownership.
According to a recent prepared statement by the Dodgers, in which it stated that, “The preliminary round of bidding has underscored the robust nature of the sales process, the significant purchase opportunity which the Dodgers represent, and the enormous value that the sale of the Dodgers ... will generate."
At least eight bidders had put forward their bids in the initial round including Magic Johnson, ex- baseball executive Stan Kasten, famous developer Rick Caruso, Dodgers’ former manager Joe Torre, East Coast hedge fund investor Steven Cohen, Dodgers’ former owner Peter O'Malley, St. Louis Rams’ owner Stan Kroenke, Stanley Gold and Roy Disney’s family.
Tags: