What we know for sure is that Magic Johnson definitely has some money. He and his group of investors have made an offer to buy the L.A. Dodgers. And offering to buy a team, your money has to be extra long.
NBA Hall of Famer and uber businessman Earvin “Magic” Johnson has just announced that he–along with the other members of the Guggenheim Partners/Guggenheim Baseball Management Group–is interested in becoming one of the new owners of the Dodgers.
He commented to ESPN today, “I’m a big baseball fan and you think about what the Dodgers have meant to baseball and to Los Angeles, and that part’s a no-brainer. … I’ve been to that place [Dodger Stadium] hundreds and hundreds of times.”
If it all comes into fruition, Magic Johnson will become the first black owner in the history of the MLB.
CEO of the Guggenheim group Mark Walter would write the big checks; Steve Kasten would oversee the baseball operations; and Magic, who recently sold his ownership share of the Los Angeles Lakers, would work as a president or vice president on both the business side and in recruiting players.
The group’s competition is none other than bllionaire businessman and Dallas Mavericks owner Mark Cuban. And seeing that Mark just saw his Mavs to an NBA championship, he’s going to be stiff competition.
Magic and the Gugenheim group have more than $125 billion in assets under management! The sale process begins next week. And coincidentally, the then Brooklyn Dodgers (with legendary Jackie Robinson) were the first professional baseball team to racially integrate in 1947 since the 1880’s.