Billionaire Steve Cohen Passes Magic As Front-Runner To Buy Dodgers

LOS ANGELES (CBS) - Billionaire Steve Cohen has reportedly emerged as the strongest candidate to acquire ownership of the Los Angeles Dodgers and says he plans to hire former Cardinals skipper Tony LaRussa in a front-office position, says the USA Today.

Cohen, who is reportedly worth $8.3 billion, has made a bid similar to the one made by Magic Johnson and his group at $1.6 billion. The only difference, Cohen allegedly has half of his bid in cash.

In addition to the group led by Johnson and NBA executive Stan Kasten, other finalists include Ram's owners Stan Kroenke — whose wife is the daughter of Wal-Mart founder Bud Walton, and Memphis Grizzlies owner Michael Heisley.

The four finalists will submit a new bid by Friday, according to Major League Baseball.

Dodgers owner Frank McCourt must choose a bidder by April 1st, per court agreement.