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Wednesday, March 28, 2012

Magic Johnson Led Group Buys Los Angeles Dodgers

Basketball legend Magic Johnson led a group that won an auction for the Los Angeles Dodgers baseball team Tuesday night, marking the final chapter in a soap-opera-style saga for the legendary franchise.
With a bid of $2.15 billion, including the surrounding land, Mr. Johnson, controlling partner Mark Walter 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.

We like how they are putting Magic out front as the face of the purchase.  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. (WSJ, 3/28/2012)

posted by Norris McDonald at 9:06 AM
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