The owners of the MLB L.A. Dodgers approached int'l investors to sell a minority stake in the franchise, which would value it at "substantially more" than the $2.3B for which it was purchased six years ago, according to Massoudi & Lewis of the FINANCIAL TIMES. The club's owners are "sounding out investors" in Japan, Taiwan and South Korea, according to sources. People close to the process said that the global search for investment "will also canvas private equity firms in Europe and Asia as the Dodgers look for partners who can expand their profile internationally." The search is at a “preliminary stage” and the club is "in no rush to do a deal," it said. The Dodgers are working with a U.S. boutique advisory firm called Galatioto Sports Partners and a Japanese bank as the club "gauges outside interest." The Dodgers did not immediately respond to a request for comment. Advisers to the Dodgers indicated that they see a "well-funded but relatively small pool" of potential buyers in Japan. An initial sweep of candidates "already eliminated a number of potential buyers," including Japanese online retail company Rakuten. Dodgers' advisers also approached Masayoshi Son's SoftBank. Rakuten and SoftBank declined to comment (FT, 7/20).
