In case you haven't heard, the Los Angeles Dodgers are for sale. One of the most recognized brands and names in sports is expected to sell for more than $1.5 billion. Potential buyers had to submit opening bids today, and according to Bill Shaikin of the Los Angeles Times, more than ten parties participated in the process to pursue ownership of the legendary franchise.
Among the notable names pursuing ownership is Dallas Mavericks owner Mark Cuban and Los Angeles Lakers legend Magic Johnson. A team that may also play in Los Angeles soon, the St. Louis Rams, their owner Stan Kroenke may have also placed a bid. ESPN's Molly Knight tweets former Dodgers Steve Garvey and Orel Hershiser's group have also submitted a bid.
The process is quite tricky, because parties can place bids higher than they are willing to purchase the team for in order to move onto the next round of the process. Among other things of note are bidders can join together and others may enter the field as well. Though today was the deadline, it's considered a soft deadline and it can be waived making it possible for new bidders to emerge.