Do you believe in Magic? For an astounding $2.15 billion dollars, a sum decided Tuesday night, Frank McCourt believes. That's how much the Los Angeles Dodgers will cost Magic Johnson's group, the Wall Street Journal reports. Johnson's consortium beat out two others — one that included St. Louis Rams owner Stan Kroenke, and another that included billionaire Steve Cohen and former major league manager Tony La Russa.
The record amount for a major league team would top the $845 million the Ricketts family paid in 2010 for the Chicago Cubs and, most importantly to Dodgers fans, would take McCourt out of the Dodgers ownership loop after eight years. McCourt bought the franchise for $430 million but took into into bankruptcy. Well, he won't be bankrupt anymore once the deal closes.
Most of the money to buy the team wouldn't come from Johnson himself but from a firm called Guggenheim Baseball Partners, whose CEO is Mark Walter. Baseball operations would be headed by Stan Kasten, who used to be president of the Washington Nationals and, more successfully beforehand, the Atlanta Braves.....snip~
http://news.yahoo.com/blogs/mlb-big-...050903869.html
Looks Like Magic will be making some Mo Money. I didn't know the Dodgers were bankrupt. Course I woud be Happy if they would cut down that forever schedule of baseball.