Magic Johnson will purchase the L.A. Dodgers for a whopping 2.15 billion dollars! Frank McCourt bought the franchise for $430 million but took into into bankruptcy. Well, he won’t be bankrupt anymore after this deal! Dodgers fans can rejoice because the McCourt nightmare is ending, and because it’s Magic to the rescue. 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. Johnson, famous of course for being one of the best players in NBA history with the Los Angeles Lakers, has become even more respected in business. But just because you’re a great former NBA player, it doesn’t make you a great team owner — just ask Michael Jordan, who owns the NBA’s Charlotte Bobcats.
But Magic pledges to bring the Dodgers back to greatness. He was even complimentary to McCourt in a statement: “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.” Very classy Magic! Congratulations!