Santa Monica CEO Joins Bid for Dodgers

The prominent and wealthy CEO of a Santa Monica-based Colony Capital is reportedly joining the founder of the New York Yankees' cable channel in a bid to buy the Los Angeles Dodgers.

Billionaire Tom Barrack's alliance with Leo Hindery and New York financier Marc Utay was "disclosed Sunday by a person familiar with the Dodgers sale process but not authorized to discuss it," the Los Angeles Times reported.

Hindery and Utay survived the first round of elimination as the team is auctioning itself off to settle owner Frank McCourt's debts. Eight groups, Hindery and Utay among them, have been notified they have made it to the second-round, and will now be vetted by Major League Baseball to see if they are fit to own the team.

"That group had been one of the two prospective buyers known to remain in the bidding without a significant tie to Los Angeles," the Times reported.

MLB.com reports that the auction could bring a league record sale price of $1.5 billion.

In 2007, Fortune named Barrack the "world's greatest real estate investor." In 2011, he ranked No. 375 on the magazine's list of the richest people in America. 

Read the full report in the Los Angeles Times.