LA Dodgers Sold to Magic Johnson Bidding Group
Legendary Laker and NBA Hall of Famer, Magic Johnson, is a part of the group that bought the Dodgers and Dodger Stadium for $2 billion on Tuesday night. This marks the most money to ever be shelled out for a North American sports franchise.
Along with Johnson, the Guggenheim Baseball Management LLC includes Mark R. Walter as it’s controlling partner, Peter Guber, Stan Kasten, Bobby Patton, and Todd Boehly. The group is expected to help the Dodgers thrive, reaffirming its strong, local roots for a loyal and devoted LA community and fanbase.
“I am thrilled to be part of the historic Dodger franchise and intend to build on the fantastic foundation laid by Frank McCourt as we drive the Dodgers back to the front page of the sports section in our wonderful community of Los Angeles,” Johnson said in a statement.
The Dodgers entered bankruptcy last June, unable to pay bills and meet player payroll. The high profile sale is expected to be finalized by the end of April.