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Magic Johnson

LOVES LA Dodgers

Makes $2 BILLION Purchase!!

3/28/2012 2:30 AM PDT BY TMZ STAFF

Magic Johnson is in as part owner of the Los Angeles Dodgers.
Magic Johnson is in as part owner of the Los Angeles Dodgers -- and Frank McCourt is out -- after the NBA legend's investment group sealed a TWO BILLION dollar deal to purchase the team ... and the crowd went wild!

Magic and McCourt announced the deal late Tuesday night ... which should unite LA's most storied sports franchise with its most beloved athlete by the end of April.

Magic was the face of the investment group -- Guggenheim Partners -- which closed the $2 billion deal that still has to be approved in federal bankruptcy court. The controlling partner of the team would actually be Mark Walter, CEO of GP.

As part of the deal McCourt would get to buy the land around Dodger Stadium -- mainly the overpriced parking lots -- for around $150 million. Face it Dodger fans ... he's never leaving.

But hey, "In a year that has been so improbable, the impossible has happened" ... we got Magic!

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For more sports stories, check out tmzsports.com!
52 COMMENTS

No Avatar
16.

Kobe_No_Means_No    

Probably paid $10 and they call him a part-owner.

879 days ago
17.

writenow    

Whatever get the McCourts out if fine by me.

879 days ago
18.

Maverick    

Wonderful news!

Crazy price -- this is a huge $$$ deal -- but the new owners are going to finance this deal with a HUGE new TV package.

879 days ago
19.

Jim in Cali    

Ridiculous that s***bag McCourt will still be in charge of the parking lots. I'd frickin walk 4 miles to the game just on principle so I don't put any money into his pocket.

879 days ago
20.

get a life ho    

McCourt is smarter then them all put together !

He kept the most profitable part of the team .,

PARKING !

NO way in hell are the Dodgers worth 2 billion . Get ready for higher ticket prices and higher parking lot fees and higher everything ! !

879 days ago
21.

Will always LOVE RJ    

WHY is he still alive..he should of died years ago!!!

879 days ago
22.

bf    

Hm, when paying for franchise team owners will pay anything. But when it is time to build a new stadium, they beg government for money.

879 days ago
23.

Blondie    

Cool!! AIDS ****tails all around!!!

879 days ago
24.

Blondie    

Good to see the economy isn't bothering EVERYone. Shame that everyone can't afford to buy a cure for AIDS.

879 days ago
25.

Eric Haleen    

A great deal! The the land the stadium is built on was stolen from a bunch of poor people...check it out!

879 days ago
26.

terrell m    

congrats to magic johnson and his partners. always good to see people staying positive in their lives.. (no pun intended)

879 days ago
27.

patty    

oh thank god!! - please lord, don't let him buy the parking lots!!!

879 days ago
28.

moe l.    

Let McCourt buy the land....then move the Dodgers to a new stadium.

879 days ago
29.

Whocars    

For all the idiots trying to diss Magic for using investors or financing, that's the smartest way to purchase things. So, what if he doesn't have a net worth over $2 billion, he doesn't need it. The old rule is to use other peoples money. Even billionaires use financing, why would you use up all your funds if you can stretch it out. I"m sure no one on here owns their home out right, you use financing to buy it, so how are you going to knock Magic???

879 days ago
30.

Throwback kid    

Congrats to Magic and the new ownership, a step in the right direction. Now it's time to build the team from the ground up, fire the entire front office and bring in a fresh staff. Get rid of the entire scouting depaertment, the Dodgers have the worst scouting in MLB, where is the talent? This was a once proud team that used to play in the World Series, now they can't even get people to go to the games. Tear the entire team down and start from scratch, the Dodgers had too many front office people and scouts collecting paychecks and not producing, time to go

879 days ago
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