LOS ANGELES (AP) -- The number of bidders for the Los Angeles Dodgers is reportedly down to three.
The Los Angeles Times reported Friday that the three finalists include a group led by Magic Johnson and veteran baseball executive Stan Kasten; St. Louis Rams owner Stan Kroenke; and a group led by hedge-fund billionaire Steven Cohen and Los Angeles billionaire and philanthropist Patrick Soon-Shiong.
In an unusual process agreed to last year by Major League Baseball and current Dodgers owner Frank McCourt, MLB will consider groups for approval before McCourt then selects the winner of the auction, which is likely to be for a price of more than $1 billion.
McCourt's agreement with MLB says the auction is to be completed by April 1 and the sale is to be closed by April 30.
