Some bidders for the Los Angeles Dodgers have started talking with each other about combining their groups, even before initial offers for the bankrupt team were submitted Monday.
Two bidders said talks about possible group mergers were ongoing. They both spoke on condition of anonymity because Blackstone Group, which is managing the sale for owner Frank McCourt, made them sign nondisclosure agreements.
Blackstone will analyze all of the initial bids and then select up to 10 to forward to Major League Baseball, which already has started due diligence on some. Those picked must pay MLB $25,000 to cover the costs of baseball's investigation.
The actual cash paid in a sale figures to be depressed by the team's debt, which stands at $573 million, according to a filing in U.S. Bankruptcy Court.