A group that includes former Lakers star Magic Johnson and longtime baseball executive Stan Kasten agreed Tuesday night to buy the Los Angeles Dodgers from Frank McCourt for a record $2 billion. The price would shatter the mark for a North American sports franchise, topping the $1.1 billion Stephen Ross paid for the NFL’s Miami Dolphins in 2009. Mark Walter, chief executive officer of the financial services firm Guggenheim Partners, would become the controlling owner. 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. ”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 said in a statement. 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. ”If they invested that… Read full this story
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