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Magic Johnson Group to Buy Los Angeles Dodgers

Magic Johnson buys Dodgers
FILE – In this Nov. 21, 2008 file photo, basketball legend turned entrepreneur Magic Johnson tours the Sports Museum of America in New York. A group that includes former Lakers star Magic Johnson and longtime baseball executive Stan Kasten agreed Tuesday, March 27, 2012 to buy the Los Angeles Dodgers from Frank McCourt for $2 billion. (AP Photo/Seth Wenig, File)
Magic Johnson buys Dodgers
FILE - In this Nov. 21, 2008 file photo, basketball legend turned entrepreneur Magic Johnson tours the Sports Museum of America in New York. A group that includes former Lakers star Magic Johnson and longtime baseball executive Stan Kasten agreed Tuesday, March 27, 2012 to buy the Los Angeles Dodgers from Frank McCourt for $2 billion. (AP Photo/Seth Wenig, File)

After months of uncertainty surrounding the Los Angeles Dodgers, fans of the storied franchise finally got some good news Tuesday night.

A group led by local sports hero, Magic Johnson, was announced as the winning bidder to acquire the troubled franchise from outgoing owner Frank McCourt, Major League Baseball announced Tuesday.

The agreement with McCourt ends months of turmoil surrounding the franchise, and should appease MLB execs who hoped a new owner would be in place by Opening Day.

The Magic Johnson-led group includes former baseball executive Stan Kasten, movie executive Peter Guber, Bobby Patton, and Mark Walter, chief executive officer for Guggenheim Partners, who would become the controlling owner of the club.

Johnson—who has deep roots in the Los Angeles area stemming from the “Showtime” era with the Lakers—and his partners, put together a $2 billion winning bid, which would be the largest amount paid for a sports franchise.

Said Johnson: “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.”

The deal was revealed just hours after Major League Baseball announced the three finalists seeking to acquire the team.

“This agreement with Guggenheim reflects both the strength and future potential of the Los Angeles Dodgers,” McCourt said, “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.”

Johnson, 52, played 13 seasons with the Lakers and won three MVP awards during his Hall of Fame career.

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