Major League Baseball Approves 3 Bidders for Los Angeles Dodgers

Major League Baseball owners have unanimously approved the three reaming groups bidding to buy the Los Angeles Dodgers from Frank McCourt, setting up a final private auction for the bankrupt team.

A person familiar with the talks, speaking on condition of anonymity because no announcement was made, said the vote took place during a teleconference Tuesday. McCourt and his advisers will now conduct negotiations and select the winning bidder in the coming days.

The groups are:

Former Los Angeles Lakers star Magic Johnson; former Atlanta Braves and Washington Nationals President Stan Kasten; and Mark Walter, chief executive officer of the financial services firm Guggenheim Partners.

Stan Kroenke, whose family properties own the NFL's St. Louis Rams, the NBA's Denver Nuggets, the NHL's Colorado Avalanche and Major League Soccer's Colorado Rapids, and who is majority shareholder of Arsenal in the English Premier League.

Steven Cohen, founder of the hedge fund SAC Capital Advisors and a new limited partner of the New York Mets; biotechnology entrepreneur Patrick Soon-Shiong; and agent Arn Tellem of Wasserman Media Group.