Magic Johnson Joins Investment Team To Make Bid On Los Angeles Dodgers

LOS ANGELES (CBS) — Magic Johnson may be the newest owner of the Los Angeles Dodgers.

Johnson, 52, made the revelation Friday, according to CBS2 and KCAL9 Sports Director Jim Hill.

The former Laker would join Stan Kasten the former president of the Atlanta Braves and Washington Nationals, and Mark Walter, chief executive of Guggenheim Partners to form an ownership group. Johnson would be a minority partner in the group called Guggenheim Baseball Management. He has also expressed interest in ownership of a potential NFL franchise in Los Angeles.

“Thrilled to announce that I’ve partnered with Mark Walter & Stan Kasten to form Guggenheim Baseball Mgmt in pursuit of purchasing the Dodgers!” Johnson wrote on his Twitter page. “I’m excited to have the opportunity to be part of the Dodgers legacy & bring a World Series championship back to LA.”

Johnson recently sold his small stake in the Lakers.

Owner Frank McCourt and Major League Baseball reached an agreement to sell the historic franchise on Nov. 1. The sale will include the team, Dodger Stadium and its surrounding parking lots.

Insiders predict that the team could sell for as much as $1 billion.

“It wasn’t my first choice but it’s something I’m comfortable with,” McCourt told CBS2 last month.

The Dodgers filed for Chapter 11 bankruptcy protection in June.

MLB has accused McCourt of “looting” $189 million from the Dodgers to pay off personal debts.

  • Xen

    It took an east coast parking lot king to destroy the Los Angeles Dodgers. Hopefully local investors will own the team from now on. Lesson learned.

  • Magic Johnson Joins Investment Team To Make Bid On Los Angeles Dodgers | Smack Water Blog

    […] via CBS LA […]

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