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Tuesday, March 27, 2012

Dodgers Sold To Magic/Kasten Group For $2B

Ken Gurnick tweeted that the Magic Johnson/Stan Kasten group has purchased the Dodgers, for $2 billion. Mind. Blown.

Update: McCourt has enough dough to buy the Mets. LOL.

Conflicting info on whether McCourt continues to own the parking lots. Jim Alexander says no, Molly Knight says yes.

Update 2: The answer seems to be "yes". Molly Knight:

Again, from McCourt's press release on the parking lots: "Mr. McCourt and certain affiliates of the purchasers will also be forming (1/2)
..a joint venture, which will acquire the Chavez Ravine property for an additional $150 million." (2/2)
Update 3: LAT on the deal:
If the deal closes as expected, the Dodgers would be owned by an entity called Guggenheim Baseball Partners and run by Stan Kasten, the former president of the Atlanta Braves and Washington Nationals.
Molly Knight:
Someone better hand Jamie McCourt a stiff cocktail. She "only" gets $131 million out of the deal.

Update 4: ESPN LA.

Update 5: The parking lots will be controlled by the incoming Magic/Kasten group.

Update 3/28: The dodgers.com story is here, with additional biographic info on Stan Kasten here. Jon Weisman's take on the team's to-do list can be found at ESPN, while Mike Petriello's thoughts can be found here and here. "Finally seeing him on his way out, well… it’s like Christmas multiplied by your birthday times twelve Super Bowls, plus kittens." And puppies. And ponies. I hope. I want to get something out on this later today; my initial reaction is that the purchase price is so high that many of the issues MLB claimed to have with McCourt ownership are still around for the new Magic/Kasten group. Read this way, the McCourts' eviction can be seen as a pure morality play, a verdict rendered on the squandiferous and self-absorbed McCourts. That's perhaps a bit harsh, but I can't understand how MLB feels this incoming bid — which has even more debt to buy the team (at least half, by what I recall) — is in better straits financially.

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This doesn't affect the Hello Kitty bobblehead giveaway, does it?
I'm very curious how this turns out...knowing that they're not completely free of McCourt, will Dodger fans continue to stay away from the stadium? LOL, which is exactly what McCourt is doing all the way to the bank.


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