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Magic Johnson & Group buy the Dodgers for $2Billion

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  • Magic Johnson & Group buy the Dodgers for $2Billion

    A group that includes former
    Los Angeles Lakers star Magic Johnson and longtime baseball executive Stan Kasten agreed Tuesday night to buy the Los Angeles Dodgers from Frank McCourt for a record $2 billion.
    The price would shatter the mark for a sports franchise. Stephen Ross paid $1.1 billion for the NFL's Miami Dolphins in 2009, and in England, Malcolm Glazer and his family took over the Manchester United soccer club in 2005 in a deal then valued at $1.47 billion.Mark Walter, chief executive officer of the financial services firm Guggenheim Partners, would become the controlling owner.The deal, revealed about five hours after Major League Baseball owners approved three finalists for an intended auction, is one of several steps toward a sale of the team by the end of April. It is subject to approval in federal bankruptcy court."I am thrilled to be part of the historic Dodger franchise and intend to build on the fantastic foundation laid by Frank McCourt as we drive the Dodgers back to the front page of the sports section in our wonderful community of Los Angeles," Johnson said in a statement.Said Dodgers general manager Ned Colletti: "We're thrilled that the bidding process has concluded and certainly looking forward to working with the new ownership group to bring another world series championship to L.A. I think it's tremendous for the city and the fans of the Dodgers."He added: "I think it was important to have deep L.A. roots, and that is what this group also brings. I think that is important to the fans, especially those in Southern California. Magic is not only a great basketball player, but also a great businessman in the city."
    As part of the agreement, the Dodgers said McCourt and "certain affiliates of the purchasers" would acquire the land surrounding Dodger Stadium, including its parking lots, for $150 million. Sources with knowledge of the situation told's Tony Jackson that means the group will purchase half the Dodger Stadium parking lots, which were deemed to have a total value of $300 million, with McCourt keeping the other half. The source said it has yet to be determined how that relationship will work and whether the new ownership group still will be forced to lease the McCourt-owned half of the lots."If they invested that much money, I'm sure they'll invest to get us a winner," said Tommy Lasorda, the Dodgers' retired Hall of Fame manager. "I wish them all the luck, and I admire them. I know both of them. I know Magic from the day he came into Los Angeles as a basketball player for the Lakers."The acquiring group, called Guggenheim Baseball Management, has several other investors, among them Mandalay Entertainment chief executive Peter Guber, Guggenheim Partners president Todd Boehly and Bobby Patton, who operates oil and gas properties among his investments. Kasten is the former president of the Atlanta Braves and Washington Nationals."I am truly honored to have partnered with such talented individuals and to be associated with the Dodgers organization," Walter said. "We look forward to building upon the legacy of the Dodgers and providing long-term stability to one of the most revered franchises in baseball."The 52-year-old Johnson played 13 seasons for the Lakers, winning five NBA championships and three MVP awards in a Hall of Fame career.He retired from the NBA in 1991 after being diagnosed with HIV, the virus that causes AIDS. He briefly came out of retirement in the 1995-96 season and had a short stint coaching the Lakers. Since leaving basketball, he has been successful in business, investing in movie theaters, a production company and restaurants.Pricey Acquisition

    The $2 billion dollar price tag for the Dodgers is the largest sale price paid by any current MLB owner. Here's that list:
    Dodgers '12 $2B
    Cubs '09 $845M
    Red Sox '02 $700M
    Astros '11 $615M
    Rangers '10 $561M

    He also has been an activist in the fight against HIV.Kobe Bryant, speaking after the Lakers' 104-101 victory at Golden State on Tuesday night, said this about Johnson's group acquiring the Dodgers:"I'm upset he didn't cut me in," Bryant said. "I'm going to have to talk to him about that."I'm happy for him," he added. "Everybody knows how well he's loved in Los Angeles, and he's started another chapter in his life, another chapter in his post-NBA career, [by] rebuilding the Dodgers franchise."McCourt paid $430 million in 2004 to buy the team, Dodger Stadium and 250 acres of land that includes the parking lots, from the Fox division of Rupert Murdoch's News Corp., a sale that left the team with about $50 million in cash at the time. The team's debt stood at $579 million as of January, according to a court filing, so McCourt stands to make hundreds of millions of dollars even after a $131 million divorce payment to former wife Jamie, taxes, and legal and banking fees.Kasten is expected to wind up as the team's top day-to-day executive.The other two finalists were:• Stan Kroenke, whose family properties own the NFL's St. Louis Rams, the NBA's Denver Nuggets, the NHL's Colorado Avalanche and Major League Soccer's Colorado Rapids. He also is majority shareholder of Arsenal in the English Premier League.• Steven Cohen, founder of the hedge fund SAC Capital Advisors and a new limited partner of the New York Mets; biotechnology entrepreneur Patrick Soon-Shiong; and agent Arn Tellem of Wasserman Media Group.It remains to be seen whether Major League Baseball will challenge the deal in U.S. Bankruptcy Court in Delaware, where the case is before Judge Kevin Gross.
    So Rams stay in STL?? Haha, I'm sure that doesn't give us any hope. But its good Kroenke didn't buy them, Nonetheless.

    Btw, as everyone is saying, $2 Billion sounds very pricey

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  • lordwhttgr
    Thanks Rams, I had a great time at the game!!!
    by lordwhttgr
    Dear George,
    We look forward to welcoming you to the Edward Jones Dome for the 2013 home opener on Sunday versus the Arizona Cardinals at 3:25 p.m. To further assist with your gameday experience please click here for additional promotional and gameday information.
    We look forward to seeing you on Sunday!
    Go Rams!
    Matt Cady
    Director of Customer Relations and Retention.

    Dear St. Louis Rams,

    I had anoutstanding time at the game. At 1:00you opened your facility up to me and let me roam around pretty much untethered. All of your employees treated me to anoutstanding day. I arrived to a very jubilantdoor attendant who wanded me through with a hearty GO RAMS!!! My first stop was room 152 where I received myon the field pass. I was joined by about20 other fans and we proceeded by the cheerleader locker room where all thegirls were getting ready to go out on the field and cheer the game. They all came out and greeted me and escortedme by the RAMS locker room where a divider was put up for the players privacy,but not so high I could not see in. Wethen walked out through the player entrance to the field where the flame machineswere being tested. The cheerleadersstayed right beside me and sold calendars and signed autographs. Jeff Fisher was out there to greet me with afriendly wave and then Johnny Hekker came out to wow us with his punting skillsfollowed by Greg Zuerlein who started kicking field goals from as far back asthe RAMS head at the center of the field. The wide receivers coach came out and played catch with me for about anhour. I walked over to the referees forthe game and they gave me an in depth look under the instant replay hood and anexplanation of how it looks. Then theplayers came out and practiced right in front of me, doing their drills. All the while, the NFL REDZONE was beingplayed on the scantron. Then as gametime approached, we took our seats and watched a very exciting, nail biting sittingon the edge of your seat game against the Arizona Cardinals. Greg Zuerlein finished them off and we proceededto leave the stadium where the players met us outside to sign autographs.

    Thank you very much,

    SSG Butler, George A
    -09-09-2013, 07:21 AM
  • AvengerRam_old
    *My Exclusive Interview with Stan Kroenke*
    by AvengerRam_old
    Stan Kroenke is elusive. Only some have the clout to get him to sit down to speak on the record. I was able to get a few minutes with him. Here's what he said.

    AvengerRam: “Thank you for taking the time to speak with me, Mr. Kroenke.”

    Kroenke: “……”

    AvengerRam: “Okay….. well… first question… where are you in the process of determining wherethe Rams will play in the future?”

    Kroenke: “In themiddle.”

    AvengerRam: “Alright… and what can you tell us about your plan.”

    Kroenke: “I could tell you everything about it.”

    AvengerRam: “Okay… what are you willing to tell us about your plan.”

    Kroenke: “That I have one.”

    AvengerRam: “Could you give us an idea of what direction you are leaning towards?”

    Kroenke: “Could I?

    AvengerRam: “Sorry. Will you?”

    Kroenke: “Eventually.”

    AvengerRam: “Is there truth to the rumors that you are actively working toward moving the team to Los Angeles?”

    Kroenke: “Those who spread those rumors are not privy to the truth.”

    AvengerRam: “But are they right?”

    Kroenke: “Notnecessarily.”

    AvengerRam: “Let me go in a bit of different direction. Some local news columnists have suggested that you need to be more open and that your failure to do so is causing an image problem.”

    Kroenke: “What’s an ‘image problem’?”

    AvengerRam: “Well… the idea that some might have a negative view of you because you are not more open.”

    Kroenke: “Do you care what people think about you?”

    AvengerRam: “Some people.”

    Kroenke: “Are any of those people columnists?”

    AvengerRam: “Well… no.”

    Kroenke: “Exactly.”

    AvengerRam: “So, what can you tell me about where the Rams will play in the future?”

    Kroenke: “They’ll be in Arizona this week.”

    AvengerRam: “Thank you so much.”

    Kroenke: “……”
    -11-07-2014, 10:41 AM
  • AvengerRam_old
    20 Post-Game Thoughts: ***SUPER BOWL EDITION***
    by AvengerRam_old
    1. Its great to see The Bus go out this way.

    2. Bill Cowher is also very deserving of finally winning the big one.

    3. Famous ball-droppers. J.S. – Jeremy Stevens… Jackie Smith… hmmmm… spooky.

    4. My MVP pick (not yet announced): Hines Ward.

    5. If I was a Seahawk fan, I have no doubt I’d be feeling that the refs took the game away from Seattle. I’d be wrong, but I have no doubt that I’d feel that way.

    6. Still a great season for Seattle. Hold your heads up, Seahawk fans. I know it hurts (I can still remember 2001), but just getting there IS an accomplishment.

    7. The fact that Super Bowl losers have tanked in the subsequent year in the last five doesn’t make me sad, though!

    8. Somebody who will indirectly benefit from this game – Penn State QB Michael Robinson. After watching Antuan Randel-El contribute to a championship team, someone will look at Robinson and see a player who can help a team.

    9. That Randel-El pass was outstanding…

    10. … reminded me of another trick play in a Super Bowl. Remember Lawrence McCutchen’s pass?

    11. Madison Avenue has just lost it. Not a single noteworthy commercial.

    12. I saw the Rolling Stones in concert 15 years ago. They were ancient then. They can still play, but if I never hear “Satisfaction” again in my life, I won’t be too upset.

    13. Casey Hampton’s not a guy I’ve watched much, but he’s quite a player.

    14. Big Ben’s performance: worst ever by a Super Bowl winning QB? Guess it doesn’t matter, though.

    15. Clock management by Seattle at end of first half… if that had been Mike Martz… oh, never mind.

    16. Did anyone have the Steelers as the preseason favorite?

    17. Steve Hutchinson and Rocky Bernard should be really upset with the team’s failure. I think they should move on and play for the Rams next year.

    18. This Steeler team is very good (obviously), but I don’t think we’re looking at the start of the next dynasty.
    19. Congrats to the NFC Champion Seahawks!

    20. Big Congrats to the NFL Champion Steelers!
    -02-05-2006, 07:04 PM
  • AvengerRam_old
    Good Article on Chris Givens
    by AvengerRam_old
    I think Givens could be a true rising star for the Rams. His ability to get behind the defense on a consistent basis adds an element to the offense that we've lacked in the past. I'm glad to read that he's maturing off the field as well. [/COLOR][/FONT][/LEFT][/LEFT]...
    -08-19-2013, 09:41 AM
  • AvengerRam_old
    Av's Round 1 "Probability Machine"
    by AvengerRam_old
    I've been trying to come up with a system to estimate the probabilty that prospects will be available when the Rams make their selections at #s 16 and 22.

    While it is impossible to come up with a true mathematical formula (given the abundance of variables that cannot be valued with certainty), I think I have come up with a rational method of assessing the probabilities. So, I give you...

    Av's Round 1 Probability Machine

    Here is how it works:

    For each team making a selection before the Rams' picks, I have listed the three players that I believe are the most logical choices. Once a player has been listed three times, I have "taken them off the board" (as noted in bold), indicating that I believe there is an extremely low probability that they will still be available when the Rams make their choices. I have then (using my own most recent draft board) listed the top three players who I believe will be available when the Rams make their picks.

    Here's what I came up with:

    1) Kansas City: Luke Joekel, Jarvis Jones, Dee Milliner
    2) Jacksonville Jaguars: Jarvis Jones, Dion Jordon, Bjoern Werner
    3) Oakland Raiders: Sharif Floyd, Star Lotulelei, Jarvis Jones
    4) Philadelphia Eagles: Luke Joekel, Eric Fisher, Sharif Floyd
    5) Detroit Lions: Dion Jordon, Dee Milliner, Bjoern Werner
    6) Cleveland Browns: Dion Jordon, Bjoern Werner, Cordarrelle Patterson
    7) Arizona Cardinals: Geno Smith, Luke Joekel, Eric Fisher
    8) Buffalo Bills: Geno Smith, Matt Barkley, Damontre Moore
    9) New York Jets: Damontre Moore, Ezekiel Ansah, Barkevious Mingo
    10) Tennessee Titans: Eric Fisher, Chance Warmack, Lane Johnson
    11) San Diego Chargers: Lane Johnson, Chance Warmack, Dee Milliner
    12) Miami Dolphins: Cordarrelle Patterson, Keenan Allen, Barkevious Mingo
    13) Tampa Bay Buccaneers: Sharif Floyd, Xavier Rhodes, Tyler Eifert
    14) Carolina Panthers: Star Lotulelei, Xavier Rhodes, Codarrelle Patterson
    15) New Orleans Saints: Star Lotulelei, Barkevious Mingo, Xavier Rhodes
    16) St. Louis Rams: D.J. Fluker, Jonathan Cooper, Tyler Eifert
    17) Pittsburgh Steelers: Ezekiel Ansah, Damontre Moore, Sheldon Richardson
    18) Dallas Cowboys: Sheldon Richardson, Jonathan Cooper, Kenny Vaccaro
    19) New York Giants: Ezekiel Ansah, Jonathan Cooper, Eddie Lacy
    20) Chicago Bears: Lane Johnson, D.J. Fluker, Manti Te’o
    21) Cincinnati Bengals: D.J. Fluker, Alec Ogletree, Menelik Watson
    22) St. Louis Rams: Tyler Eifert, Matt Elam, Terrance Williams

    Now... anticipating the most likely criticism, I am fully aware that the "top 3" for each team, as well as the Rams' draft board, are open for debate.

    That stated, I think the system I have created has a great deal of logic behind it, and can be used to estimate
    -03-05-2013, 09:41 AM