WOW! Now I had to release that cheer of joy for Magic Johnson and Co! Some time last year, Magic began liquidating most of his assets to put himself in position to bid with Mark Walter of Guggenheim Partners and others. Congrats to Magic and his group because this is such an amazing milestone for the local LA community. Magic Johnson has truly become an amazing businessman, and we will continue to learn from his calculated and innovative investments!
The group, which will be called Guggenheim Baseball Management has agreed to purchase the LA Dodgers for a record $2 billion, which is almost twice the amount Stephen Ross paid for the Miami Dolphins in 2008!
This move is great for LA and the US economy because not only do the Dodgers receive new motivated owners, but they get a fan favorite for LA Sports which helps revitalize LA for tourism, future and current residents, investors in local businesses, and much more! I'm sure with Magics smile and the other investors experience they will build the Dodgers into one of the premier sports franchises! So we all at JB Sutton wish Magic and Co all the success!