Magic Johnson is in as part owner of the Los Angeles Dodgers — and Frank McCourt is out — after his investment group sealed a TWO BILLION dollar deal to purchase the team … and the crowd went wild!
Magic and McCourt announced the deal late Tuesday night … which should unite LA”s most storied sports franchise with its most beloved athlete by the end of April.
Magic was the face of the investment group — Guggenheim Partners — which closed the $2 billion deal … which still has to be approved in federal bankruptcy court. The controlling partner of the team would actually be Mark Walter, CEO of GP.
As part of the deal McCourt would get to buy the land around Dodgers Stadium — mainly the overpriced parking lots — for around $150 million. Face it Dodger fans … he”s never leaving.
But at least we got Magic!