Report: Magic's Group To Buy Dodgers

[Trendy Bastard]

Report: Magic Johnson’s group to buy Dodgers | HardballTalk

It’s Showtime.

Details are scarce at the moment, but Ken Gurnick of MLB.com reports that the Dodgers have reached an agreement to be sold to the group led by Magic Johnson and longtime MLB and NBA executive Stan Kasten.

MLB owners had approved the groups led by billionaire hedge-fund manager Steve Cohen and St. Louis Rams owner Stan Kroenke, but outgoing owner Frank McCourt has apparently identified Johnson’s group as the winning bidder. No word yet on the exact terms, but most estimates had the sale price to exceed $1.5 billion, which would establish a new record for an American sports franchise.

[DirtyKash]

That is a shitload of money.

[Trendy Bastard]

My first thought, aswell. I'm sure Dodger fans are relieved though.

[love_that_reefer]

I'm glad it was Magic's group that won it. It just makes for a better sports story.

[realmofotalk]

That is a shitload of money.

Hope McCourt buys the Mets or the Padres with his newfound billions.

[love_that_reefer]

Nope, just looks like he is going to buy the land around the stadium.

[zodious]

Totally weak, they should find a way to make a restraining order against him being allowed near anything baseball related.

[HollywoodLeo]

Hope McCourt buys the Mets or the Padres with his newfound billions.

The purchase would be post-divorce so they wouldn't face the same drama.And at least McCourt wouldn't be buying the team on layaway like Moorad is, so I almost think I'd prefer that to our actual situation.

[realmofotalk]

The purchase would be post-divorce so they wouldn't face the same drama.

I think we both realize it wasn't the divorce that took the organization down, even though the drama was a bitch. The divorce was only the mechanism which forced the McCourts to face reality of their debt crisis and accelerate the cleansing process.

[realmofotalk]

Totally weak, they should find a way to make a restraining order against him being allowed near anything baseball related.

https://twitter.com/#!/ArashMarkazi/ As much as LA would like Frank McCourt to disappear, relegating him to a minority parking lot owner isn't all that bad.

[Trendy Bastard]

I don't know what's worse for LA. McCourt still owning the parking lots, or Andrew Bynum taking three point shots..

[realmofotalk]

McCourt won't build a damn thing on the lots. If he ever could develop land into anything more than parking lots, he'd never traded that Boston waterfront yard for Dodger ownership.

[padrefanforever]

I heard a rumor it's more like $2b and that included the lots ???

[love_that_reefer]

The Dodgers sold for $2.15 billion, the world record price for a sports franchise, Bill Shaikin of the LA Times reports (Twitter links). The Cubs had set the previous record for an MLB team with a sale price of $845MM. The new deal allows the incoming ownership group to control parking lots for games, but Frank McCourt and the new group will jointly pursue any development of the lots.

Develop some lights and security in the parking lots and make McCourt pay for it.

[realmofotalk]

BillShaikin: Source: Dodgers deal is all cash, no financing. MLB review will be formality because of no debt added to team liabilities.



Interviewer: Write your check yet, guys?
Rich White Guy #1: When you're rich, you don't write checks.
Interviewer: If you don't write checks, how do you pay Frank McCourt?
Rich White Guy #2: Straight cash, homey.
Interviewer: Were you upset about the price?
Rich White Guy #3: Nah, 'cause it ain't shit. Ain't nothin' but 2 billion dollars. What's 2 billion to us? It ain't shit.