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Posts Tagged ‘Stan Kasten’

Meet the 64-Year-Old Centering the NHL Player Bottom Line

There are a couple of noteworthy LA tidbits in Bill Shaikin‘s great profile of NHL players’ association executive director Donald Fehr.

In the 1930s, Fehr’s grandfather owned a clothing store on what is now the Third Street Promenade in Santa Monica, but was forced by the Great Depression to close up shop and move back to Indiana. Then there’s this reminder that the 64-year-old Fehr is someone who does not concern himself with how fans and media view an ongoing NHL lockout:

“He is as impervious to media criticism as anyone I’ve ever met,” said Dodgers president Stan Kasten, a friend of both Fehr and NHL commissioner Gary Bettman.

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Magic Johnson’s Group Buys Dodgers for $2 Billion

Do you believe in Magic?

Magic Johnson‘s bidding group reached a deal to purchase the Los Angeles Dodgers and Dodger Stadium from Frank McCourt for a whopping $2 billion — the highest amount ever paid for a sports franchise. Bankruptcy judge Kevin Gross is expected to approve of the deal on April 13, a little over two weeks before McCourt must pay his ex-wife Jamie $131 million as part of their divorce settlement.

Guggenheim Baseball Management LLC are the official owners, which include Johnson, Mark R. WalterPeter Guber, Stan Kasten, Bobby Patton and Todd Boehly. The controlling owner is Walter, chief executive officer of the financial services company. Kasten, the former president of the Washington Nationals and Atlanta Braves, is expected to run the day-to-day operations.

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Three Groups Left in Dodgers Bidding

And then there were three.

Another round of cuts were made in the Los Angeles Dodgers bidding process and we could have a winner as soon as next week, according to Bill Shaikin of the Los Angeles Times:

The three finalists include a group led by hedge-fund billionaire Steven Cohen and Los Angeles billionaire and philanthropist Patrick Soon-Shiong; a group led by Magic Johnson and veteran baseball executive Stan Kasten; and St. Louis Rams owner Stan Kroenke.

The cut was confirmed by two people familiar with the sale process but not authorized to comment.

Major League Baseball owners are expected to vote on the three remaining bidders early next week. Final negotiations then would take place with Frank McCourt and Blackstone Advisory Partners, the investment bank brokering the sale.

Magic Makes a Play for the Dodgers

At this point, the question has become, who isn’t interested in buying the Dodgers? Everyone from Steve Garvey and Orel Hershiser to Larry King and Mark Cuban are in the mix.

Now, according to LA Times columnist Bill Plaschke, recently divested Lakers part-owner Magic Johnson plans to join the Frank McCourt bankruptcy sweepstakes:

Johnson would be the face of a high-powered ownership group that would include Stan Kasten, the former president of the Atlanta Braves and Washington Nationals, and Mark Walter, chief executive of Guggenheim Partners, a financial services firm that controls over $125 billion in assets. The firm is headquartered in Chicago and New York, with an office in Los Angeles.

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