Frank McCourt is out and Magic Johnson is in... drum roll please! Magic Johnson bought the L.A. Dodgers for a whopping $2 billion dollars.
Late Tuesday night Magic along with Frank McCort announced the good news. This is a marriage made in sports history, as Mr. Magic himself unites with the most legendary sports franchise of all times.
Magic represents the investment group Guggenheim Partners, and jointly they secured the $2 billion deal that is currently pending approval in federal bankruptcy court. Although GP CEO Mark Walter is the regulating partner, Magic is still an owner.
McCort is no longer an owner, in fact he's parking cars... Well he's not actually parking cars but he did make a deal to purchase the property surrounding the Dodger Stadium (the expensive parking lots)for $150 million dollars.
So Congrats to one of the greatest sportsmen basketball has ever seen, and let's keep our fingers crossed and hope the Dodgers has better luck now that they've got MAGIC!!!
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