Originally posted on The Jersey Chaser  |  Last updated 3/28/12

The Los Angeles Dodgers needed a little Magic after what they endured in the past two years, which includes filing for bankruptcy and a bitter divorce between their owners. But yesterday, team owner Frank McCourt announced new owners for the team who have agreed to buy the Dodgers spear-headed by none other than Magic Johnson.

The deal was finalized just hours before the team was supposed to be auctioned off to three potential buyers including another sports connection; St. Louis Rams owner Stan Kroenke. The Dodgers filed for bankruptcy in June of 2011, after team owners Frank and Jamie McCourt failed to settle team ownership in their divorce proceedings.

$2 Billion is the largest ever price tag for a US sports team.

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