Adding to his already multi-million dollar legacy, Magic Johnson is a apart of a group that will buy the Dodgers from Frank McCourt for a record $2 billion.
The price would shatter the mark for a sports franchise. Stephen Ross paid $1.1 billion for the NFL’s Miami Dolphins in 2009, and inEngland, Malcolm Glazer and his family took over the Manchester United soccer club in 2005 in a deal then valued at $1.47 billion.
The deal, revealed about five hours after Major League Baseball owners approved three finalists for an intended auction, is one of several steps toward a sale of the team by the end of April. It is subject to approval in federal bankruptcy court.
As part of the agreement, the Dodgers said McCourt and “certain affiliates of the purchasers” would acquire the land surrounding Dodger Stadium, including its parking lots, for $150 million.
“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 ofLos Angeles,” Johnson said in a statement.