Magic Johnson Helps Buy L.A. Dodgers for $2.15 Billion

Celebrity News Mar. 28, 2012 AT 9:50AM
Magic Johnson arrives for the Food Allergy & Anaphylaxis Network Gala at El Rey Theatre on February 10, 2011. Magic Johnson arrives for the Food Allergy & Anaphylaxis Network Gala at El Rey Theatre on February 10, 2011. Credit: Jonathan Leibson/FilmMagic

Sold! For $2.15 billion.

Magic Johnson and a group of similarly deep-pocketed investors were the winning bidders at an auction on Tuesday night to buy the Los Angeles Dodgers for a staggering $2.15 billion -- easily breaking previous records for the amount of money shelled out for a U.S. sports franchise.

(Steve Ross bought the Miami Dolphins for $1.1 billion.)

Racked by debt, the legendary Dodgers had been previously owned by Frank MCourt; McCourt will enter into a new venture with Johnson et al on the land surrounding the Dodgers stadium.

PHOTOS: Love lives of athletes

"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," former L.A. Laker Johnson, 52, said in a statement.

PHOTOS: What happened to these retired celebs?

McCourt said the agreement "reflects both the strength and future potential of the Los Angeles Dodgers, 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."

How we use your email
X

We may use your e-mail address to send you the newsletter and offers that may interest you, on behalf of Us Weekly and its partners. For more information please read our Privacy Policy.

comments powered by Disqus

ADVERTISEMENT