Magic Johnson buys Los Angeles Dodgers for $2.15 billion

Basketball legend Magic Johnson led a group that won an auction for the Los Angeles Dodgers baseball team. The bid was $2.15 billion.

"I am thrilled to be part of the historic Dodger franchise and intend to build on the fantastic foundation laid by Frank McCourt as we drive the Dodgers back to the front page of the sports section in our wonderful community of Los Angeles," Magic said in a statement.

From WSJ:

From WSJ:

Basketball legend Magic Johnson led a group that won an auction for the Los Angeles Dodgers baseball team Tuesday night, marking the final chapter of in a soap-opera style saga for the legendary franchise, according to people with knowledge of the process.

With a bid of $2.15 billion, including the surrounding land, Mr. Johnson, controlling partner Mark Walter and partners Peter Guber, Stan Kasten, Bobby Patton and Todd Boehly beat out a group of some of the wealthiest businessmen in the country to land a team that is one of Major League Baseball's flagship franchises.