The Los Angeles Dodgers Have Been Sold.....to Magic Johnson!

[Brian Damage]

Los Angeles Dodgers owner Frank McCourt has announced an agreement Monday night to sell the bankrupt team for $2 billion to a group that includes former Lakers star Magic Johnson and former Atlanta Braves and Washington Nationals President Stan Kasten.

The agreement, revealed about five hours after Major League Baseball owners approved three finalists for the auction, is to lead to a transfer of the team by the end of April. It is subject to approval in federal bankruptcy court.

Mark Walter, chief executive officer of the financial services firm Guggenheim Partners would become the controlling owner. The price would be easily a record for a North American sports franchise.

As part of the agreement, the Dodgers said McCourt and ''certain affiliates of the purchasers'' would acquire the land surrounding Dodger Stadium for $150 million.

The acquiring group, called Guggenheim Baseball Management, includes Mandalay Entertainment chief executive Peter Guber.

''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,'' McCourt said.

McCourt paid $430 million in 2004 to buy the team, Dodger Stadium and 250 acres of land that include the parking lots, from the Fox division of Rupert Murdoch's News Corp., a sale that left the team with about $50 million in cash at the time. The team's debt stood at $579 million as of January, according to a court filing, so even after the divorce payment, taxes and legal and banking fees, he stands to make several hundred million dollars.

Kasten is expected to wind up as the team's top day-to-day executive.

http://msn.foxsports.com/mlb/story/L...d-group-032712

[TVFactFan]

He is a complete JOKE as a analyst on TV so maybe he will be a better owner?

LOL

[Brian Damage]

Originally Posted by TVFactFan

He is a complete JOKE as a analyst on TV so maybe he will be a better owner?

LOL

He's not that bad Sol

[TVFactFan]

Originally Posted by Brian Damage

He's not that bad Sol

When he stops saying "INNERESTING" and starts saying "INTERESTING" then he will be less of a joke LOL

[Brian Damage]

Originally Posted by TVFactFan

When he stops saying "INNERESTING" and starts saying "INTERESTING" then he will be less of a joke LOL

LOL

Remember this dude had a talk show on FOX late nights. LOL

[TVFactFan]

Originally Posted by Brian Damage

LOL

Remember this dude had a talk show on FOX late nights. LOL

One thing you can learn from magic is that if you are LIKED by lots of people you will always have a JOB

LMAO

[Brian Damage]

Originally Posted by TVFactFan

One thing you can learn from magic is that if you are LIKED by lots of people you will always have a JOB

LMAO

very true, it just doesn't make sense. The guy should just stick with basketball. He should've tried to buy an NBA team.

[TVFactFan]

Originally Posted by Brian Damage

very true, it just doesn't make sense. The guy should just stick with basketball. He should've tried to buy an NBA team.

Look how many jobs he had that he wasn't qualified

1. NBA Coach
2. Talk Show Host
3. Play by Play announcer
4. Studio Analyst
5. Owner


LOL, See what i mean

[Brian Damage]

Originally Posted by TVFactFan

Look how many jobs he had that he wasn't qualified

1. NBA Coach
2. Talk Show Host
3. Play by Play announcer
4. Studio Analyst
5. Owner


LOL, See what i mean

LOL

Wow, you are correct.