Magic Johnson heads group buying Dodgers - KWWL - Eastern Iowa Breaking News, Weather, Closings

Magic Johnson heads group buying Dodgers

Magic Johnson is taking his smile and his charisma to the national pastime.

A group that includes the former Lakers NBA star and longtime baseball executive Stan Kasten agreed last night to buy the Los Angeles Dodgers from Frank McCourt for a record $2 billion. McCord bought the Dodgers for $430 million in 2004.

The price would shatter the mark for a North American sports franchise, topping the $1.1 billion Stephen Ross paid for the NFL's Miami Dolphins in 2009.

Johnson says he's "thrilled" to be part of the historic Dodger franchise and says he wants to "drive the Dodgers back to the front page of the sports section in our wonderful community of Los Angeles."

The deal calls for a transfer of the team by the end of April. It is subject to approval in federal bankruptcy court. Mark Walter, CEO of the financial services firm Guggenheim Partners, would become the controlling owner.

As part of the deal, the Dodgers said McCourt and "certain affiliates of the purchasers" would acquire the land surrounding Dodger Stadium for $150 million.

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