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Magic Johnson group to buy Los Angeles Dodgers for $2 billion

Mar 28, 2012, 1:19 AM EDT

ESPN Films "The Announcement" Los Angeles Premiere Getty Images

Around Los Angeles, a lot of people were rooting for the Magic Johnson group to win the bidding war for the Dodgers. Well, mostly what Dodger fans wanted was Frank McCourt out of the picture and replaced by anyone not named Jamie McCourt.

But if they got to choose a replacement, Magic was at the top of most lists — he’s a sports icon, a businessman and someone who gets the city.

Well, they got their wish.

Magic Johnson’s group won the bidding war and will get the Dodgers for a cool $2 billion. Yes, with a “B.” We’re calling it the Magic group but it is really the Guggenheim Baseball Management LLC (“GBM”) which has Mark R. Walter as the controlling partner (read: guy with all the real money), as well Warriors co-owner Peter Guber, baseball guy Stan Kasten and others. McCourt and some other investors will stay on as part owners of the valuable parking lot around the stadium. (Most Dodger fans would like McCourts seats to be out there.)

Magic had been a minority owner in the Lakers (about five percent) but sold that looking to get a larger role with another sports organization. He’s found it.

  1. lakerluver - Mar 28, 2012 at 1:58 AM

    Magic has proven to be as good, if not better, in business as he was at playing basketball.

    • purnellmeagrejr - Mar 28, 2012 at 7:39 AM

      I’m happy for Magc Johnson ; I coldn’t help but think back to the e day so long ago when it was announced he has contracted HIV. Good for humanity.

  2. asublimeday - Mar 28, 2012 at 2:23 AM

    Seriously, how the hell is this guy still alive?

    • storebrandcookies - Mar 28, 2012 at 2:40 AM

      He has money to afford some radical new treatment that has obviously been effective seeing how he is still thriving. Whether he got this treatment in the states or overseas, I’m not sure. But I’m sure that certain people don’t want this information to catch wind seeing how pharmacies benefit from selling their medicine.

      The above statement was just a conspriacy theory. Magic has more money than all the people reading this comment combined. More money equals better medical care. Thats how the world goes.

      • 00maltliquor - Mar 28, 2012 at 2:49 AM

        Haa! You responded a minute before I could finish my response! Agree 100% This government more crooked then anyone in the world cares to imagine. There’s definatly a cure out there, but there’s no money to be made in that…just the medicine to keep you afloat and put it in remission.

      • cosanostra71 - Mar 28, 2012 at 10:05 AM

        I love when people say this. Yes, there would be NO money in a cure to HIV/AIDS. Are you really this stupid in real life, or do you just play it on the internet?

    • 00maltliquor - Mar 28, 2012 at 2:41 AM

      He’s magic (pun intended!).

      It’s called being FILTHY rich. Money finds cures for everything.

      “if Magic Johnson had a cure for AIDS/ and all the broke mu’f***ers passed away/ you tellin’ me if my grandmama played in the NBA, right now she’d be OK?…” -Kanye West “Smile”

    • losangelasbasketball - Mar 28, 2012 at 4:55 AM

      Good diet, exercise, and anti-retroviral drugs cause the virus to become almost non-existant in his blood….

  3. 00maltliquor - Mar 28, 2012 at 2:28 AM


  4. airyeezy17 - Mar 28, 2012 at 2:36 AM

    Hope it works out better than the Bobcats.

  5. lakerluver - Mar 28, 2012 at 3:19 PM

    @ asublimeday, the question isn’t how is Magic still alive but how is someone as ignorant as yourself still alive?! Magic’s not the only person who has lived with HIV for decades. Their are even people who have lived with AIDS for many years. Educate yourself about a topic before opening your pie hole with an opinion!!

  6. kpow55 - Mar 28, 2012 at 5:44 PM

    Calling it Magic’s group is hilarious, yes he’s involved but comparing what he’s actually bringing to the table it’s like calling the Beatles Ringo’s group

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