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View Full Version : Magic Johnson Makes 2 Billion Dollar Purchase



MetroMan
03-28-2012, 12:41 AM
http://www.tmz.com/2012/03/27/magic-johnson-los-angeles-dodgers-sold-frank-mccourt/

Magic Johnson is in as part owner of the Los Angeles Dodgers -- and Frank McCourt is out -- after his investment group sealed a TWO BILLION dollar deal to purchase the team ... and the crowd went wild!

Magic and McCourt announced the deal late Tuesday night ... which should unite LA's most storied sports franchise with its most beloved athlete by the end of April.

Magic was the face of the investment group -- Guggenheim Partners -- which closed the $2 billion deal ... which still has to be approved in federal bankruptcy court. The controlling partner of the team would actually be Mark Walter, CEO of GP.

As part of the deal McCourt would get to buy the land around Dodgers Stadium -- mainly the overpriced parking lots -- for around $150 million. Face it Dodger fans ... he's never leaving.

But at least we got Magic!

bholly
03-28-2012, 01:06 AM
Are the Dodgers really LA's most storied sports franchise?

ManRam
03-28-2012, 01:11 AM
Magic Johnson didn't even contribute close to 2 billion dollars in this deal...but he obviously is the biggest name and played a huge role in it. He's rich, he ain't that rich though!

But good for him. I'm sure he's very excited, I know Dodger fans are pumped too. Should be better days on the horizons.

LA_Raiders
03-28-2012, 01:16 AM
NFL team is next...

BKLYNpigeon
03-28-2012, 01:29 AM
Magic Johnson owns about 5% or less of the the Dodgers. he's just a Figurehead. most of the money was put up from 2 other partners.

Its kind of like Jay-Z, he owns about 2-3% of the Nets.

LTBaByyy
03-28-2012, 02:01 AM
He doesn't even have 2 billion dollars :facepalm:

He is just the only known person and the leader. He is a minority owner like Jay Z and put up like 5% of 2 billion which is still a lot

We see Jay Z a lot and the average NBA fan would think he is the majority

But no way in hell he put up the money Prokohorov did

C-Style
03-28-2012, 02:08 AM
Magic Johnson owns about 5% or less of the the Dodgers. he's just a Figurehead. most of the money was put up from 2 other partners.

Its kind of like Jay-Z, he owns about 2-3% of the Nets.

Jay-Z owns 1% and is not even worth half Billion dollars

b@llhog24
03-28-2012, 02:16 AM
Magic Johnson didn't even contribute close to 2 billion dollars in this deal...but he obviously is the biggest name and played a huge role in it. He's rich, he ain't that rich though!

But good for him. I'm sure he's very excited, I know Dodger fans are pumped too. Should be better days on the horizons.

Lol thanks for clearing this up cause when I saw this, I was wondering where Magic got 2billion dollars from.

bholly
03-28-2012, 02:45 AM
Lol thanks for clearing this up cause when I saw this, I was wondering where Magic got 2billion dollars from.

From his bedroom.

GoatMilk
03-28-2012, 03:26 AM
Are the Dodgers really LA's most storied sports franchise?
it's a good question

i do believe that the Dodgers being contenders every year would be bigger than the Lakers. it was in the past

they share the city very well though.

Birdmannn
03-28-2012, 03:27 AM
Im curious as to how much Magic actually contributed to this buy.
Does JayZ really only own 1% of the Nets?

abe_froman
03-28-2012, 03:29 AM
Are the Dodgers really LA's most storied sports franchise?

if you include the brooklyn days...they could have a case,but i'd still say lakers edge them out in any case

RaiderLakersA's
03-28-2012, 11:56 AM
There was a time when I thought that Magic Johnson would buy the Raiders, if the Davis family ever seriously considered selling. Kudos to the Dodger fans.

justinnum1
03-28-2012, 11:59 AM
i wonder if he contributed more than 100 mil

MickeyMgl
03-28-2012, 03:53 PM
Are the Dodgers really LA's most storied sports franchise?

Arguably, yes.

THINKBLUE15
03-28-2012, 04:02 PM
The Dodgers didn't even start SHARING LA in terms of popularity until the '80s. And even then (yes, during showtime), the Dodgers were front page in the LA Times, not the Lakers. The Dodgers 'demise' was due solely to what ownership did to the team. I love the Lakers but if the Dodgers return to what they were, they will do no less than be equal with the Lakers in LA. The Dodgers are certainly the most storied franchise in LA.

The Dodgers were mobbed at the airport when they showed up in LA. They had a parade on broadway just upon arrival. Since moving to Los Angeles, the Dodgers lead EVERY AMERICAN SPORT TEAM in attendance. I forgot which Laker said it but he said, "When the Dodgers arrived it was a party. I'm not certain anybody knew who we were when we got there". Has that changed? Hell yeah. This has become a Laker town. But it is a Dodger town too.

Magic said it himself: "When I was playing for the Lakers, it was all about the Dodgers. No matter what we did the Dodgers were on page 1." And that was during showtime.

They are indeed the most storied franchise in LA and under new ownership the Dodgers will reclaim their stature in this city.

THINKBLUE15
03-28-2012, 04:04 PM
I wouldn't take his involvement lightly. Magic MADE THIS GROUP. It's not as if a group called up Magic to be a face. Magic constructed this group and did everything he could to get the team. Magic>J-Z