Magic Johnson/Stan Kasten Group Purchase Dodgers

A deal has finally been reached in the sale of the historic Los Angeles Dodgers franchise and stadium.  Last night it was announced that the Dodgers had been sold to the bidding group including NBA Hall of Famer Magic Johnson and former Washington Nationals President Stan Kasten for a record-setting $2.15 billion.

This $2.15 billion selling price becomes the world record price for a sports franchise according to Bill Shaikin of the Los Angeles Times.  Shaikin added that the deal is more than double the previous MLB record of the $845 million the Ricketts family bought the Chicago Cubs for in 2009.

According to Ken Gurnick of MLB.com, the sale of the Dodgers is officially to Guggenheim Baseball Management LLC, which lists Mark R. Walter as its controlling partner.  Johnson and Kasten along with Bobby Patton, Peter Guber and Todd Boehly are included under the sale.

Wikipedia lists Guggenheim Partners, a privately held, diversified financial services firm, as having more than $100 billion of assets under its supervision.

Dodgers general manager Ned Colletti likely voiced the feelings of the club’s fans when he stated that he was “thrilled” the bidding process has ended and a buyer has been named.  This will allow the Dodgers to move forward with the new owners.  Kasten is expected to take on the role of team president.

For more on the Dodgers, be sure to check out Lasorda’s Lair.

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