Magic Johnson, Guggenheim Score Dodgers With $2B Bid

Law360, Wilmington (March 28, 2012, 2:36 PM EDT) -- Investors led by former basketball star Magic Johnson and investment firm Guggenheim Partners LLC won an auction for bankrupt baseball team the Los Angeles Dodgers on Tuesday with a blockbuster $2 billion bid.

The deal, which still requires the blessing of a Delaware bankruptcy court, easily eclipses the previous top price paid for a U.S. sports team — real estate developer Stephen Ross’ $1.1 billion purchase of the Miami Dolphins football team in 2009.

 "I am thrilled to be part of the historic Dodgers franchise and...
To view the full article, register now.