Dodgers Sale: Seven Ownership Groups Remain, Including Magic Johnson

The Los Angeles Dodgers are still on the verge of trying to find a new ownership group. At this point, it's anyone's game. The most prominent name out there involves a former LA sporting great.

Bill Shaikin of the Los Angeles Times files this report.

The remaining bidders proceed to a multi-layered review by Major League Baseball, including consideration by two committees of owners. Each bidder then will be subject to a vote of all owners, with three-fourths approval required.

If a bidder is not cleared to proceed to the ownership vote, McCourt can ask a court-appointed mediator to intervene. If a bidder is rejected in the ownership vote, McCourt has no recourse.

MLB is expected to inform McCourt which bidders have been approved in mid- to late-March. McCourt is then expected to hold a final round of bidding before selecting the winner.

Tony Jackson of ESPN Los Angeles does a good job talking about each of the bidders. Magic Johnson is of course the most prominent bidder, with most of his funding for the bid coming from Guggenheim Partners CEO Mark Walter. Stan Kroenke, owner of the St. Louis Rams, probably has the most experience in running a sports franchise. A bunch of other prominent LA names on the sporting scene are also involved in the bidding, and you'd figure any of them has as good a chance as anyone else.

Owner Frank McCourt is expected to sell the Dodgers for over a billion dollars at least, so you have to expect that the winning bidder will be flush with cash to try and keep the team in place.

To discuss the Dodgers sale regarding various ownership groups, check out True Blue LA.

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