Magic Johnson now owns the LA Dodgers

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 6 years ago '04        #1
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GollyI'mGully 69 heat pts69
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Magic Johnson now owns the LA Dodgers
 

 
LOS ANGELES (MarketWatch) -- A group of investors led by former Los Angeles Lakers basketball star Earvin "Magic" Johnson won an auction to buy the L.A. Dodgers baseball club late Tuesday for $2 billion, The Wall Street Journal reported. The price topped the previous record for a sports franchise, set three years ago at $1.1 billion paid by Steve Ross for the Miami Dolphins football team, the report said. The report named Johnson's partners in the deal as Peter Guber, Stan Kasten, Bobby Patton and Todd Boehly

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 Magic Johnson group buys Dodgers for $2 bln: WSJ - MarketWatch


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83 comments for "Magic Johnson now owns the LA Dodgers"

 03-27-2012, 10:16 PM         #2
breakingbad 
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After eight grueling years, Los Angeles is finally rid of Frank McCourt. Both Matt Futterman of the Wall Street Journal and MLB.com's Ken Gurnick are reporting that Magic Johnson's bidding group, which includes film producer Peter Guber and former Washington Nationals president Stan Kasten, have been approved by Major League Baseball to purchase the club for—deep breath, now—$2 billion.





:applause:
 6 years ago '05        #3
KruptedWayz 21 heat pts21
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Thoughts?
 6 years ago '05        #4
R0R0 22 heat pts22
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fu*k THE ANGELES!! LAKERS AND DODGERS KEEP IT OG LIKE OH KUSH
 6 years ago '04        #5
GollyI'mGully 69 heat pts69 OP
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we mobbin n*gga
 6 years ago '05        #6
R0R0 22 heat pts22
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Its not magic by the way its his team
 6 years ago '06        #7
thegodfather11 4 heat pts
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That's my GOAT PG
 6 years ago '04        #8
GollyI'mGully 69 heat pts69 OP
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 R0R0 said:
Its not magic by the way its his team
i used a headline from an article, but chose a different article
 6 years ago '05        #9
KruptedWayz 21 heat pts21
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 R0R0 said:
fu*k THE ANGELES!! LAKERS AND DODGERS KEEP IT OG LIKE OH KUSH
Your intelligence is exactly why I am not a fan of either teams.
 6 years ago '07        #10
Jace Luv 
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Finally..



\\


that c*cksucker Mccourt can fu*k off back to Bawstin ..
 6 years ago '12        #11
44wade 289 heat pts289
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Post navigation← Previous
SOLD: Magic Johnson, Stan Kasten acquire Dodgers
Posted on March 27, 2012
“The Dodgers have reached an agreement to be sold to Magic Johnson’s bidding group, according to a baseball source,” tweets Ken Gurnick of MLB.com.

Update: “Breaking from WSJ: Magic Johnson-led group buys LA Dodgers for $2 billion, shattering all previous prices paid for sports franchises,” tweets Dennis K. Berman of the Wall Street Journal.

That has to include the parking lots, right? Right?

Update 2: From the Journal:

… With a bid of $2 billion, Johnson and partners Peter Guber, Stan Kasten, Bobby Patton and Todd Boehly beat out a group of some of the wealthiest businessmen in the country to land a team that is one of Major League Baseball’s flagship franchises. The sales figure shatters the previous record sales price for a U.S. sports franchise, Steve Ross’s purchase of the Miami Dolphins for $1.1 billion three years ago. …

Update 3: Official statement:

The Los Angeles Dodgers and Frank McCourt Announce Agreement With Guggenheim Baseball Management

LOS ANGELES, March 27, 2012 – The Los Angeles Dodgers and Frank McCourt today announced an agreement under which Guggenheim Baseball Management LLC (“GBM”) will acquire the Los Angeles Dodgers for $2 billion upon completion of the closing process. The purchasing group includes Mark R. Walter as its controlling partner, as well as Earvin “Magic” Johnson, Peter Guber, Stan Kasten, Bobby Patton and Todd Boehly. Mr. McCourt and certain affiliates of the purchasers will also be forming a joint venture, which will acquire the Chavez Ravine property for an additional $150 million.

The Los Angeles Dodgers stated, “This transaction underscores the Debtors’ objective to maximize the value of their estate and to emerge from Chapter 11 under a successful Plan of Reorganization, under which all creditors are paid in full.”

Frank McCourt stated, “This agreement with Guggenheim reflects both the strength and future potential of the Los Angeles Dodgers, and a.ssures that the Dodgers will have new ownership with deep local roots, which bodes well for the Dodgers, its fans and the Los Angeles community. We are delighted that this group will continue the important work we have started in the community, fulfilling our commitment to building 50 Dream Fields and helping with the effort to cure cancer.”

Earvin “Magic” Johnson stated, “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.”




Them dudes overspent

Old record was Steve Ross tho? Cheap?
 03-27-2012, 10:21 PM         #12
breakingbad 
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they didn't overspend....the land they get with the deal is very valuable
 6 years ago '12        #13
44wade 289 heat pts289
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 breakingbad said:
they didn't overspend....the land they get with the deal is very valuable

what i understood tho, thats a seperate 150 million dollar deal, or did I read that wrong?
 6 years ago '04        #14
torious 67 heat pts67
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4 threads is enough, happy for magic but we get it
 6 years ago '07        #15
ttime236 38 heat pts38
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You learn something new each day. I did not know Magic had it like that with the finances

How the hell did he build that type of wealth?
 6 years ago '04        #16
torious 67 heat pts67
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4 threads tho?
 6 years ago '04        #17
Motion 817 heat pts817
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$2 billion?

damn. that seems like a lot

the Dolphins were purchased for $1 billion back in 2009 and that was shortly after Wayne Huizenga made $250 million worth of upgrades to the stadium

and that's an NFL team
 6 years ago '04        #18
hockeythug 66 heat pts66
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 44wade said:
what i understood tho, thats a seperate 150 million dollar deal, or did I read that wrong?
something about McCourt gets to keep the parking lots. So I guess the land.
 6 years ago '12        #19
44wade 289 heat pts289
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 torious said:
4 threads is enough, happy for magic but we get it

agreed, didnt see them other sh*ts, they can have this one.

Still crazy though. I think its an L.
 6 years ago '04        #20
hockeythug 66 heat pts66
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 Motion said:
$2 billion?

damn. that seems like a lot

the Dolphins were purchased for $1 billion back in 2009 and that was shortly after Wayne Huizenga made $250 million worth of upgrades to the stadium

and that's an NFL team
Forbes had them at 1.4 this year.
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