It’s hard to drive around LA and not visit some place that Magic Johnson has his name on. From TGI Fridays, AMC theaters, Burger Kings, Starbucks and 24 Hour Fitness – Magic Johnson has done a good job in getting his hands into all facets of LA life. Not only is he a Los Angeles Lakers great, but he was a former owner of the team as well until he sold his shares to one of the richest men in Los Angeles two years ago.
His reasoning for parting with the Lakers franchise – he wanted to be like Mike (Michael Jordan that is) and own one himself. According to NBA regulations though, you can’t have partial stock in a team and own another. After the sale though, little was mentioned from him in regards to owning a NBA team and the new buzz in the streets was that Magic really was interested in helping to bring a NFL team to Los Angeles ; and owning it. Even though things seemed promising with people chattering about the proposed building of Farmers Field next to the Staple Center; two years later, the talks about bringing a football team to LA have died down – though Magic’s interest in owning a team didn’t.
And it looks as if Magic finally owns a team.
Truthfully when I heard about Magic (technically the Magic Johnson Group, baseball executive Stan Kasten and others) buying the Dodgers for 2 billion dollars I was confused. Not only did this price shatter the mark for a sports franchise once set by Stephen Ross who paid 1.1 billion for the NFL’s Miami Dolphins, but baseball? Who knew Magic was a fan.
This is all great news for Dodgers fans that were like the children stuck in the middle of a heated divorce battle (literally) with bankruptcy woes. Now the bankruptcy is all but a distant memory and the talks of who to acquire for the upcoming season are already in the works. As former Hall of Fame manager Tommy Lasorda stated, “If they invested that much money, I’m sure they’ll invest to get us a winner”.