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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
1.

itsnoise    

Magic is part owner of the dodgers!!!

857 days ago
2.

bring back recent posts    

....GREED...watch out..so many incredibly rich people make the stupidest choices...using their heart instead of their brain...

857 days ago
3.

sirch    

harvey levin is one of the biggest morons on this planet. Magic is the smaller part owner, the BULK of the $2bil was not his. Try getting your story straight, jackass ....

857 days ago
4.

nickp91    

Magic Johnson own everything. Gyms, restaurants, movies, coffee shops & sports teams

857 days ago
5.

sirch    

funny the way they update the story after first reporting it wrong... horrible...

857 days ago
6.

Skar    

I'm sorry but how is the Dodgers worth 2 billion?

857 days ago
7.

Bad Jake     

The franchise that brought us Jackie Robinson now has the first black owner in baseball history. Now that Magic is the main man at Chavez Ravine, I hope he doesn't plan on luring Cole Hamels or Matt Cain away next year. With Kershaw, they'd be a devastating duo. Congrats L.A. because you're relevant again when it comes to baseball, although it's only been 2 1/2 years since you were in the NLCS. Vin Scully might want to stick around for awhile because 2013 smells of success. L.A. definitely believes in Magic... The new Magic Kingdom says your move Bird...

857 days ago
8.

Jay W.     

It's good to be poor... I mean rich.

857 days ago
9.

parlayer    

stick with basketball brother. leave baseball to the mexicans.

857 days ago
10.

Rock Singer    

First off, it looks like Jamie will get nothing more than Chump Change.

Next, get ready for 20 dollar Dodger Dog's...these investor's will want their investments back ASAP.

You got to hand it to Frank McCourt, he spun pure Sh** into GOLD.

857 days ago
11.

TMZISAPIECEOFSHIT    

Without some financial AIDS backing him, he could never have done this on his own.

857 days ago
12.

Cartman    

I guess this is Magic's last hurrah.

The AIDS must be finally kicking in.

857 days ago
13.

myopinion    

He's been talking about a football team...NOW he is part owner of the Dodgers I wonder if they are going to make it a dual sport field?

857 days ago
14.

Who Knew    

Who's the better opportunist, McCourt or the Kartrashians?

857 days ago
15.

Who Knew    

Lay off Magic, he is a great person period.

857 days ago
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