Magic Johnson Wants to Buy the Los Angeles Dodgers

by December 02, 2011
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Having sold his stake in the Lakers last year, Magic Johnson tells the LA Times that he’s now interested in owning a piece of the city’s legendary baseball team: “Magic Johnson wants to buy the Dodgers, putting one of Los Angeles’ most beloved sports figures in pursuit of the city’s cherished baseball team. ‘I love baseball,’ Johnson told said. ‘I’ve been a Dodgers fan and gone to the park many, many times.’ Johnson would be the face of a high-powered ownership group that would include Stan Kasten, the former president of the Atlanta Braves and Washington Nationals, and Mark Walter, chief executive of Guggenheim Partners, a financial services firm that controls over $125 billion in assets. The firm is headquartered in Chicago and New York, with an office in Los Angeles. ‘Stan Kasten is my man,’ Johnson said. ‘He’s a winner, he’s built two incredible organizations, and he’s well respected. That is what was important to me. I had to get with a winner, a guy who understands baseball inside and out. The first thing I asked Walter was, ‘Do you want to win, and do you want to put money in?’ He said, ‘Absolutely.’ ‘Both guys are about building a winner and making a difference in the L.A. community.’ That Johnson has his money lined up puts him, for now, ahead of several potential bidders, including former Dodgers owner Peter O’Malley.”