It’s a big day for Dodger fans!
Former Lakers star Magic Johnson and partners won the bankruptcy bid for the Los Angeles Dodgers.
The group agreed to buy the team from team owner Frank McCourt for a record $2 billion. That is the highest price ever paid for a North American sports franchise.
“The new owners are grouped under the banner Guggenheim Baseball Management. The owners include Magic Johnson, Hollywood producer Peter Guber, baseball executive Stan Kasten and Bobby Patton as well as Todd Boehly and Mark Walter of Guggenheim Partners — that company co-owns Prometheus Global Media, which owns Billboard and The Hollywood Reporter. Walter will be controlling partner of the Dodgers when the deal closes at the end of April.” Deadline.com
the $2 Billion only covers the team and stadium they still need to buy the parking lot! That will cost an extra $150 million.
Los Angeles fans seem to be happy about the deal. It means the Dodgers get to stay around!