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Thread: Magic Johnson Buys L.A. Dodgers Baseball Team.....

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    Magic Johnson Buys L.A. Dodgers Baseball Team.....



    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.
    History does not long Entrust the care of Freedom, to the Weak or Timid!!!!! Dwight D. Eisenhower ~

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    That is a lot of money but the new T.V. contracts make it worth it. The way these franchises appreciate is really crazy. It seems like it could be a bubble but I guess it will never pop as long as there are a few billionaires always willing to step in and buy troubled teams. The Dodgers were for sale for a long time and now the Padres may be going back on the market too.

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    Plus Magic has proven he is successful in buisness. Unlike MJ! Johnson doesnt gamble like Jordan does either.
    History does not long Entrust the care of Freedom, to the Weak or Timid!!!!! Dwight D. Eisenhower ~

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    Are his movie theaters successful? I thought he had problems a while back. Most of these athletes can't run businesses as you know, maybe he is an exception.

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    I didn't even know he owned movie theaters. I was going by what some have said how he has been different than most other Athletes.
    History does not long Entrust the care of Freedom, to the Weak or Timid!!!!! Dwight D. Eisenhower ~

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    Hopefully he's more successful than Jordan with the Bobcats on the other hand the more succesful recent years stories of sports player buying francise is Nolan Ryan and the Texas Rangers, he really turned that around in a hurry.

    The Dodgers are well positioned to do well though, their division have been weak forever, only the Giants are anything worth noting, and the Dodgers have good pieces like Clayton Kreshaw and Andrei Either and Matt Kemp in place...

    now all he need to do is to fire their GM Ned Colleti , who has managed to do jack despite having the biggest budget and a boatload of young talents.

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    Quote Originally Posted by RollingWave View Post
    Hopefully he's more successful than Jordan with the Bobcats on the other hand the more succesful recent years stories of sports player buying francise is Nolan Ryan and the Texas Rangers, he really turned that around in a hurry.

    The Dodgers are well positioned to do well though, their division have been weak forever, only the Giants are anything worth noting, and the Dodgers have good pieces like Clayton Kreshaw and Andrei Either and Matt Kemp in place...

    now all he need to do is to fire their GM Ned Colleti , who has managed to do jack despite having the biggest budget and a boatload of young talents.
    So are you into Baseball RW?
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    Quote Originally Posted by MMC View Post
    So are you into Baseball RW?
    MMC you're not much of a fan are you? I mean you gotta be at least White Sox over Cubbies, right?

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    Quote Originally Posted by Conley View Post
    MMC you're not much of a fan are you? I mean you gotta be at least White Sox over Cubbies, right?
    Yep....South Side/White Sox. Moreso than the Cubs. Northsiders. My Grams was a Cubs fan as is my youngest. The Two older ones are Sox fans. Typically I root for all Chicago Teams.

    But I don't get into watching Baseball unless I go to a game.
    History does not long Entrust the care of Freedom, to the Weak or Timid!!!!! Dwight D. Eisenhower ~

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    Quote Originally Posted by RollingWave View Post
    Hopefully he's more successful than Jordan with the Bobcats on the other hand the more succesful recent years stories of sports player buying francise is Nolan Ryan and the Texas Rangers, he really turned that around in a hurry.

    The Dodgers are well positioned to do well though, their division have been weak forever, only the Giants are anything worth noting, and the Dodgers have good pieces like Clayton Kreshaw and Andrei Either and Matt Kemp in place...

    now all he need to do is to fire their GM Ned Colleti , who has managed to do jack despite having the biggest budget and a boatload of young talents.
    Good post - one big difference between the NBA and baseball is the salary cap though. Nolan's Rangers have been able to spend a lot of money buying up great talent. Jordan has definitely made a mess of the Bobcats.

    Yes, I expect good things from the Dodgers in the coming years. They certainly have the backing to do so, and with the new TV deal they'll have lots of money to spend on players.

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