Major League Baseball is expected to vote today to approve the three bidders for the Los Angeles Dodgers, according to the Los Angeles Times. Once approved, this will allow current Dodgers owner, Frank McCourt, to begin an auction for the team on Wednesday.
According to the Times, the Dodgers are expected to be sold for a record price.
A group led by two billionaires, Steven Cohen and Patrick Soon-Shiong are one of the three teams left in the running, along with a group headed by Stan Kroenke, and another group fronted by Stan Kasten and Magic Johnson. The three groups will vie for the team in an auction format. The winner is expected to be announced this week.
The team is being put on sale by outgoing owner Frank McCourt after financial woes have forced him into bankruptcy. Major League Baseball took over financial control of the team early last season when it was reported that McCourt had to take out several high risk loans in order to make payroll.