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Mark Cuban, Dennis Gilbert out of Dodgers’ ownership derby

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Dallas Mavericks owner Mark Cuban and local baseball executive Dennis Gilbert did not advance to the second round of the Dodgers’ ownership bidding, according to two people familiar with the process but not authorized to discuss it publicly.

Cuban told The Times in November that he did not believe the Dodgers were worth $1.2 billion. Outgoing owner Frank McCourt believes he can sell the team for at least $1.5 billion.

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Gilbert, the former agent and current Chicago White Sox executive, had partnered with former talk show host Larry King as well as Jason Reese and Randy Wooster of Imperial Capital.

At least eight bidders have been selected to advance to the second round, including East Coast hedge fund giant Steven Cohen, a group led by Magic Johnson, and another group headed by local developer Rick Caruso and former Dodgers manager Joe Torre.

McCourt has agreed to identify the winning bidder by April 1.

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-- Bill Shaikin

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