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Magic Johnson’s Group Buy The Dodgers: Is Your Faith Restored In The Boys In Blue?

Dodger fans across the country are waking up to the news that the group led by NBA legend Magic Johnson has won the bid as the new owners of the L.A. baseball franchise for a record-breaking $2 billion.

The new owners include Johnsom, film producer Peter Guber, former Nationals President Stan Kasten, Bobby Patton and Todd Boehly. A large chunk of the bid was funded by Guggenheim Baseball Management LLC, who beat out a group led by Steve Cohen, one of the richest men in America. So now that the Dodgers have their new owners in place, is your faith restored in the team?!

From our friends at CBS LA, Johnson told Hill he’s “thrilled, honored, but mostly happy for the fans of the Los Angeles Dodgers.”

“I am thrilled to be part of the historic Dodger franchise and intend to build on the fantastic foundation laid by Frank McCourt as we drive the Dodgers back to the front page of the sports section in our wonderful community of Los Angeles,” Johnson also said in a written statement.

“This agreement with Guggenheim reflects both the strength and future potential of the Los Angeles Dodgers, and assures that the Dodgers will have new ownership with deep local roots, which bodes well for the Dodgers, its fans and the Los Angeles community. We are delighted that this group will continue the important work we have started in the community, fulfilling our commitment to building 50 Dream Fields and helping with the effort to cure cancer,” McCourt, whose divorce proceedings and lavish lifestyle put the team in financial disarray, said in a statement.

As part of the deal, McCourt will retain “certain affiliates of the purchasers,” which includes the land surrounding Dodger Stadium and its parking lots for $150 million.

So now we ask…is your faith restored back into the Boys in Blue now that Magic and his team are the new owners?!

[Source: CBS LA]

  • RainbowRay

    New ownership, does it always produce a winning team? Have to wait and see! Have to believe right? I only say this because of our losing Leafs (hockey!). However, there seems to be a lot said for our Blue Jays this year! I only hope it’s true because they’ve had the same ownership for years.


  • http://Kearth101 Ted

    No way!! They paid too much!!! The Dodgers aren’t worth one cent over $600,000,000. How is the group going to pay down that huge debt? Raise ticket prices? A family man will have to take out a loan to take his kids to a game.
    So now, Frank McCourt, who ruined the team, comes out smellin’ like a rose. Does anybody else think this deal stinks?

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