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[Forbes] Potential sale of stake in Dodgers to S. Koreans values team at $3 bln

March 13, 2015

 

Los Angeles Dodgers starting pitcher Zack Greinke reacts after a fly ball goes over his head during the second inning of a spring training baseball exhibition game against the Chicago Cubs in Mesa, Ariz., on Wednesday, March 11, 2015. (AP Photo/Chris Carlson)

Los Angeles Dodgers starting pitcher Zack Greinke reacts after a fly ball goes over his head during the second inning of a spring training baseball exhibition game against the Chicago Cubs in Mesa, Ariz., on Wednesday, March 11, 2015. (AP Photo/Chris Carlson)

[FORBES]

A potential deal in which a South Korean sovereign fund would invest in the Los Angeles Dodgers places a $3 billion valuation on the Major League Baseball team TISI +0.56%, according to two sources with knowledge of the negotiation but not authorized to speak about them publicly.

Three years ago Guggenheim Baseball Management purchased the Dodgers from Frank McCourt. That deal placed a value of $2 billion on the team and Dodger Stadium, and a value of $2.3 billion including 260 acres of surrounding real estate. The current negotiations with the South Korean investors is for about 20% of the team and stadium but does not include the nearby real estate and SportsNet LA, the regional sports channel created by by the Dodgers and Time Warner Cable TWC -1.06% in early 2013. The deal the Dodgers have with the RSN pays the team a total of $8.35 billion over 25 years with the money guaranteed by Time Warner Cable.

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