Magic Johnson Group to Buy Dodgers

The group headed by Lakers legend Magic Johnson has been chosen to buy the Dodgers, multiple reports said Tuesday night. Guggenheim Partners — headed by Johnson and long-time baseball executive Stan Kasten — will reportedly pay $2 billion for the team, by far the most ever paid for a sports franchise.

In a statement Johnson said:

“I am thrilled to be part of the historic Dodger franchise and intend to build on the fantastic foundation as we drive the Dodgers back to the front page of the sports section in our wonderful community of Los Angeles.”

Having Johnson involved is a good PR move for the Dodgers after years of terrible PR under Frank McCourt, who paid $371 million for the team in 2004. So even after he pays his ex-wife the $131 million due to her by the end of April, McCourt will walk away with a tidy little profit. There will be no tears shed for him by Dodgers fans as he leaves the owner’s box.