Posted March 27, 2012 on AP on Fox
Major League Baseball owners have unanimously approved the three remaining groups bidding to buy the Los Angeles Dodgers from Frank McCourt, setting up a final private auction for the bankrupt team. A person familiar with the call, speaking on condition of anonymity because no announcement was made, said the vote took place during a teleconference Tuesday. McCourt and his advisers will conduct negotiations and select the winner in the coming days. One group is led by former Los Angeles Lakers star Magic Johnson; another by Stan Kroenke, whose family properties include the St. Louis Rams; and the last by Steven Cohen, a hedge fund founder who is a limited partner in the New York Mets.

Orel Hershiser’s proposed stadium changes look awfully familiar

What you see here is an architect’s rendering of proposed changes to Dodger Stadium. Of course, the Dodgers are in the process of being sold to one of three potential bidders. Frank McCourt, the current owner of the team, is expected to make final negotiations this week. But the design here is from the mind of one Orel Hershiser, and his plan is to share with the future owners...

Andrew Zimbalist Says What We’re All Thinking

In this article about the Dodgers sale (which raises some of the same questions I’m having about the price), Andrew Zimbalist says this about Frank McCourt: “It’s problematic,” Zimbalist said. “He was looking for some kind of ongoing income stream and he got it. Here’s a guy who borrowed practically all the money to buy the team for $430 million and now he’s selling...

Dodgers fans can rejoice in Magic deal

Frank McCourt just recorded one of the greatest assists in sports history. He passed to Magic Johnson. Sure, there were other names on the news release: Mark R. Walter is the controlling partner with Guggenheim Baseball Management. Well-known sports executive Stan Kasten is one of the limited partners, along with Peter Guber, Bobby Patton and Todd Boehly. Great. Congratulations...

Top 10 reasons why the Dodgers are selling to Magic Johnson's group

10) Frank McCourt wants to make sure the team stays in adulterous hands9) Team really wants to sell burgers and show movies8) Bud Selig knows that making McCourt sell to a black guy is one last fun kick in the teeth7) Thinks that if they sell to a celebrity, it's more likely to get approved by a bankruptcy court6) Part of the deal includes Magic hosting the post-game show with...

Magic Johnson is a finalist to purchase the Dodgers

Others have stolen the spotlight in recent years, but Los Angeles is still Magic Johnson’s city, and he might have the city’s baseball team next. The former point guard for Showtime is part of a group that has been named a finalist by MLB owners in negotiations with current Los Angeles Dodgers owner, Frank McCourt. Johnson’s group also includes former Atlanta Braves and...

Magic Johnson's Group Wins Bid for Dodgers

The most despised man in Los Angeles has been replaced by the city's most beloved public figure. The Los Angeles Dodgers and Frank McCourt announced an agreement under which Guggenheim Baseball Management LLC will acquire the Dodgers for $2 billion. The purchasing group includes Mark R. Walter as its controlling partner, as well as Earvin “Magic” Johnson, Peter Guber...

Three Survivors Remain In Hunt For Dodgers Franchise

Just six short days remain before we know who the next owner of the Los Angeles Dodgers will be. A day many of us have longed for since, oh, the day he took over the team, no? We had some good times, but we definitely had some bad as well. A lot of bad actually. No sense in reliving all of the wonderful memories, but I will say I won't miss this guy running the show. So where...

Bizball: A New Day for the Dodgers by Maury Brown

It wasn’t the most cash in the deal that won the day, but rather a whopping total, and maybe—just maybe—some goodwill for Frank McCourt. Late Tuesday night, the Dodgers and Frank McCourt announced they had reached an agreement under which Guggenheim Baseball Management LLC (“GBM”) will acquire the Dodgers for $2 billion upon completion of the closing process.  The...

Magic Johnson’s group wins Dodgers bidding for $2 billion, Frank McCourt profits

Dodgers fans rejoiced Tuesday night when it was revealed the ownership group fronted by Magic Johnson won the bidding to purchase the team. Their $2 billion winning bid blew away any previous amount paid for a North American sports franchise. Dolphins owner Stephen Ross paid $1.1 billion for his franchise in 2009 while the next highest amount for an MLB team was $845 million for...


THIS IS BREAKING NEWS... It took less than a day for Frank McCourt to make his decision in the sale of the Los Angeles Dodgers, going with what is likely the highest bid amount, but likely to have less cash. The Dodgers and McCourt announced an agreement under which Guggenheim Baseball Management LLC (“GBM”) will acquire the Los Angeles Dodgers for $2 billion upon completion...

Showtime is Coming to Chavez Ravine!

Somebody pinch me…quick. Did that really happen?  Is the Wicked Witch of Los Angeles really dead?  Twitter nearly exploded with euphoria from Dodger fans at about 8 p.m. on Tuesday night when it was revealed that Magic Johnson’s group (comprised of Magic, baseball executive Stan Kasten, money man Mark Walter of financial services firm Guggenheim Partners and Hollywood executive...

Dodgers Sold For 2-Point-1 Extra Large

To Guggenheim, Magic, and Stan Kasten...Who FOSG Mark Harmon admits has more lives than a cat...And Frank McCourt got out of this alive with an interest in the parking lots...Absolutely typical...Here's FOSG Liz Habib...((HT: MyFoxLA))Dodgers Sold To Magic Johnson, $2.1 Billion! : MyFoxLA.comGuggenheim came to the table with $1.6-Billion in cash equity and paid another $500M...
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