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.
Great work, Guber!
Wow….can’t wait to see what happens to the Dodger ticket prices at that two billion dollar price tag! Ultimately McCourt will have screwed the citizens of LA once again when the new owners have to raise the prices for everything at the stadium to pay McCourt his kings ransom! Coming soon—the $10 hot dog and the $1 squirt of mustard!
Are you kidding me? Really? The parking lots??? Guess who’s going to get screwed with the parking lots being owned by McCourt? US, the Dodger fan.
That man has screwed every fan in town. I hope he loses everything in the lawsuit from the beating of the fan in his precious parking lot!
I won’t be paying to park in them any longer.
2B or not 2B, that is the question. Hmm, can I afford to take my kids to a game now?
Frank McCourt most hated man ever in the hostory of Los Angeles. We all hate you Frank. Take your cash and leave you scumbag.
Let me get this straight:
PMG – Billboard going into toilet
Peter Guber – Sent Sony Pictures into toilet
Magic Johnson – as coach of the lakers (for 8 games) had to beg a ref to send him to the toilet (so as not to watch his team lose)
These people+$2B + mccourt (partially) owning the parking lots – this team is headed back to where it already stands – bankruptcy…
Actual magic couldn’t save the Dodgers.
Poor Jon Peters.
WOW they overpaid!!!
Really @Cursed_La? Not sure if you are serious. Magic Johnson brought 5 championships to the city of Los Angeles, was a 3 time NBA MVP, 3 time finals MVP, 12 time All-Star; and you focus on 8 games as a coach? Guggenhiem Partners manage over $100 billion dollars and you focus on Billboard Magazine? Magic Johnson brings dignity to this organization and yoy, my friend, are an idiot.
Worst, most misinformed comments ever. Magic is not coaching, he’s lending his good name and considerable entrepreneurial experience, Guber has sports franchise ownership experience already, Kasten is no slouch, and Gugggenheim has the cash – this is good news for the Dodgers.
OK, I agree that McCourt is a turd. Let’s get over it for the sake of our team.