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Magic Johnson Group Buys Los Angeles Dodgers For $2 Billion

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Baseball got some great news Tuesday night as the Dodgers, it seems, will be owned by Magic Johnson’s group.

It was announced that Johnson and his crew have purchased the club  for a cool $2 billion. Frank McCourt announced the sale. Currently the Dodgers are in bankruptcy. Magic’s group also includes former Braves executive Stan Kasten.

Major League Baseball made the decision to approve the sale to any of 3 groups. McCourt, who I felt got a bad rap in some ways, agreed to sell to LA sports legend Magic Johnson and his group for the huge sum.

The controlling owner will be Mark Walter, CEO of the financial services firm Guggenheim Partners. The $2 billion price tag is easily the highest for any North American Sports property.

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