Magic Johnson Looks to Purchase MLB’s Los Angeles Dodgers

According to a report by ESPN News, former NBA great Earvin ‘Magic’ Johnson is teaming up with a group of investors that are looking at buying the Los Angeles Dodgers baseball club.

“I want to make them great again,” said Johnson, who announced his bid Friday, and explained he wants to restore the Dodgers’ pride and prominence. “The Dodgers have been so important to this community for so many years, for so many reasons. I’ve lived through it all like everyone else…”

If the deal comes to fruition, Johnson would be the face of a high-powered ownership group that includes Stan Kasten, the former president of two Major League Baseball teams, the Atlanta Braves and Washington Nationals, and business tycoon Mark Walter, the chief executive of Guggenheim Partners, a financial services firm that controls more than $125 billion in assets.

As for their roles, Johnson explained that Walter would write the big checks, Kasten would oversee the baseball operations, and he (Magic), just having sold his ownership share of the Los Angeles Lakers, would work as a president or vice president on both the business side and in recruiting players, when needed.

“The Dodgers are my next big thing,” Johnson told the LA Times. “This is not just millions of my money, this is dear to my heart. This is bringing back the brand for the people of Los Angeles.

“When I first got to town, the Dodgers were on Page 1 of the LA Times and the Lakers were on Page 3. I’ve seen how the Dodgers can be as big as the Lakers and I want that to happen again.”

Besides Magic Johnson, other potential buyers who have been publicly identified include Dallas Mavericks owner Mark Cuban, Southern California baseball executive Dennis Gilbert, Los Angeles developers Rick Caruso and Alan Casden and former Buffalo Sabres owner Tom Golisano.

Dodgers stars Steve Garvey and Orel Hershiser also are also reportedly trying to form a bid group, as is Fred Claire, a former Dodgers general manager.

via LA Times