NBA legend Magic Johnson and former Washington Nationals president Stan Kasten currently are leading the bidding to become the next owners of the Los Angeles Dodgers, according to Forbes.
The potential ownership group led by Kasten and Johnson submitted a $1.6 billion bid to buy the franchise. According to Forbes, the bid would be partially financed by private equity.
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.