Group Led by Magic Johnson Wins Auction to Buy Dodgers for $2 Billion
Source: The New York Times
A group headed by Magic Johnson and financed largely by Guggenheim Partners was named the winning bidder for the Los Angeles Dodgers on Tuesday night.
The Johnson group will spend $2 billion for the team and $150 million for a joint venture with the beleaguered seller, Frank McCourt, on the land surrounding Dodger Stadium, including the parking lots. McCourt had until recently resisted selling the lots, preferring instead to lease them to the new owner. McCourt bought the team in 2004.
Earlier in the day, Major League Baseball owners had approved three bidders for McCourt to choose from: the Johnson group; a group consisting of two billionaires, Steven A. Cohen and Patrick Soon-Shiong; and Stan Kroenke, the billionaire owner of the St. Louis Rams, the Colorado Avalanche and the Denver Nuggets.
Read more: http://www.nytimes.com/2012/03/28/sports/baseball/sale-of-dodgers-nears-a-resolution.html
A historic first with an African-American joining the owners' club.
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They made a deal with that asshole McCourt to develop a mall in the Dodger stadium parking lot and they overpaid by $1 billion 
Life-long Dodgers fan here. 
