Basketball legend Magic Johnson led a group that won an auction for the Los Angeles Dodgers baseball team Tuesday night, marking the final chapter of in a soap-opera style saga for the legendary franchise, according to people with knowledge of the process. With a bid of $2.15 billion, including the surrounding land, Mr. Johnson, controlling partner Mark Walter and partners Peter Guber, Stan Kasten, Bobby Patton and Todd Boehly beat out a group of some of the wealthiest businessmen in the country to land a team that is one of Major League Baseball’s flagship franchises. The sales figure shatters the previous record sales price for a U.S. sports franchise, Steve Ross’s purchase of the Miami Dolphins for $1.1 billion three years ago.
Surprising news from L.A. as the Magic Johnson group wins the Dodgers auction, defeating presumed favorite Steve Cohen. In a stunner, Frank McCourt stays on as a partner in the JV that will own the parking lots.