The bidding group is the last one standing after many Dodgers suitors came and went during the monthslong process, and the $2 billion deal is the richest ever for a U.S. sports franchise. The new owners — who emerged after three groups participated in a U.S. Bankruptcy Court auction today — are grouped under the banner Guggenheim Baseball Management. That mix includes Magic Johnson, Hollywood producer Peter Guber, baseball executive Stan Kasten and Bobby Patton as well as Todd Boehly and Mark Walter of Guggenheim Partners — that company co-owns Prometheus Global Media, which owns Billboard and The Hollywood Reporter. Walter will be controlling partner of the Dodgers when the deal closes at the end of April. The agreement with soon-to-be-ex-owner Frank McCourt is for the team and Dodger Stadium, and a separate joint venture with some members of the group — including McCourt — will buy the parking lots and property for an extra $150 million. That $2.15B total could be eclipsed by the local TV rights deal that’s sure to come after the sale is approved — the team could create its own regional sports network (a la the New York Yankees’ lucrative YES Network), shop the rights, or re-sign with current partner Fox Sports, which already had offered a long-term deal worth close to $3 billion.
Magic Johnson's Group Wins Bidding To Buy Dodgers For Record $2B
What's Hot on Deadline
No Obama Bounce For DNC Day 3 Ratings As They Fall Behind RNC, 'Wayward Pines' Finale Down From 2015
'Jason Bourne' On Way To $55M To $60M; 'Bad Moms' Reaching For $30M; 'Nerve' Could Find $15M - Friday Matinees
Bill Maher On Hillary Clinton Nomination: "First, Lady Ghostbusters And Now This; America's On A Roll!"
Latest TV News
- John Cena’s ‘American Grit’ Renewed For Second Season By Fox
- Vice President Joe Biden To Guest Star On ‘Law & Order: SVU’
- ‘Mercy Street’: First Look At Season 2 Of PBS’ Civil War Drama
- Donald Trump & RNC Top Hillary Clinton & Final Night Of DNC In Viewers
- Seth Meyers To Donald Trump: “You’re Broke!”
- ‘Scream Queens’ Season 2 Promo: Will These Med Students Bother To Learn About Anesthesia?