Several sources are now reporting that the Dodgers have been sold to the Magic Johnson-led group for a staggering $2 billion.
The Dodgers have reached an agreement to be sold to Magic Johnson's bidding group, according to a baseball source. See dodgers.com.— Ken Gurnick (@kengurnick) March 28, 2012
Breaking from WSJ: Magic Johnson-led group buys LA Dodgers for $2 billion, shattering all previous prices paid for sports franchises.— Dennis K. Berman (@dkberman) March 28, 2012
As you can see, this price is significanly richer than any previous franchise transactions and will likely (or should, anyway) include Frank McCourt's parking lot revenue stream as well.
Major League Baseball owners had previously approved three groups for purchase bidding- 1) the group led by billionaires Steven Cohen and Patrick Soon-Shiong; (2) the group led by Magic Johnson and longtime baseball executive Stan Kasten; and (3) St. Louis Rams team owner Stan Kroenke. If these reports prove correct, it looks like Johnson's group was the winning bidder.
More to follow soon as details emerge.
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