Several monster funds, including KKR, Thomas H. Lee Partners, Providence Equity Partners and Highbridge Capital Management, have expressed an interest in joining the 10 or so remaining bidders, Forbes writer Mike Ozanian is reporting. The private equity players are considering investments in the $200 million to $300 million range (purchase price is expected to top $1.5 billion, so these would be minority positions). From Forbes:
Although the Ontario Teachers Fund had great success with its ownership of the Toronto Maple Leafs of the National Hockey League and billionaire Tom Gores' Platinum Equity invested in the National Basketball Association's Detroit Pistons last year, it is very rare that funds make big investments in professional sports teams. But Wall Streeters have done very well with their personal investments in teams.