Magic Johnson group is high bidder for Dodgers, say reports

Forbes' Mike Ozanian reported last night that the investor group fronted by baseball man Stan Kasten and Magic Johnson is the top bidder for the Dodgers at $1.6 billion. Kasten toured the Dodgers' spring training facility in Glendale, Arizona today. Close behind is said to be the bid by hedge fund titan Steve Cohen and agent Arn Tellem, at $1.4 billion but with much more cash up front. And tonight, Bill Shaikin says in the Los Angeles Times that the field has shrunk to four bidders — not including the LA investor Stanley Gold, whose package was reportedly rejected by baseball owners. Ultimately, Frank McCourt can make his choice from among any of the bids approved by the lords of baseball.

lllustration: Stuart Rapeport