New $2 billion chapter for Magic Johnson, partners and LA Dodgers

Los Angeles Dodgers fans can breathe a sigh of relief and look forward to the new season because Frank McCourt has agreed to sell the team.

A group that includes NBA great Magic Johnson won the bid to purchase the storied Dodger franchise for $2 billion.

I am thrilled to be part of the historic Dodger franchise,” Johnson said in the statement, adding the new owners “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.

Although Magic has a small ownership stake, he can leverage his star power and visibility for greater benefit to the ball club and his own legacy, which is essentially what he has done in many of his business dealings over the years.

Let’s not forget he also partnered with Tim Leweike and AEG in 2010 to bring an NFL team back to LA (prior to this move he sold his ownership stake in the Los Angeles Lakers).

He is arguably the most successful former athlete in the private sector.

Congratulations, gentlemen.

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