Dec 2, 2011, 3:17 PM EDT
Right now in Los Angeles, saying you are part of a group trying to buy the Dodgers is like saying you’re writing a screenplay. Everyone is doing it. I’d expect the Kardashians to be in a group within the week.
And now Magic Johnson is in as well, although he has both the money and pull within the city actually make this happen.
The Lakers legend — who sold out his Lakers ownership share last year — told the Los Angeles Times he wants in the baseball game.
Johnson would be the face of a high-powered ownership group that would include Stan Kasten, the former president of the Atlanta Braves and Washington Nationals, and Mark Walter, chief executive of Guggenheim Partners, a financial services firm that controls over $125 billion in assets. The firm is headquartered in Chicago and New York, with an office in Los Angeles….
“The first thing I asked Walter was, ‘Do you want to win, and do you want to put money in?’ He said, ‘Absolutely.’
After the ridiculous Fox ownership era, followed by the heavily leveraged, cash poor Frank McCourt era, Dodger fans want some liquidity and sanity in their next owner. This is a proud franchise in a big market that has not been well run for a long time.
That’s why the most popular name to come up is Mavericks owner Mark Cuban, who said he would be in the bidding on a team. But Magic Johnson would work, too.
The only question is will Bud Selig and the other owners allow it, or do they prefer heavily leveraged owners in large markets because they don’t want guys who could drive up salaries by competing with the Yankees and Red Sox for the best talent?
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