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Old 03-27-2012, 08:24 PM   #1 (permalink)
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Magic Johnson wins bid for Dodgers

Don't have a link. Just saw it as breaking news on Twitter.

Edit: http://espn.go.com/los-angeles/mlb/s...-johnson-group
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Old 03-27-2012, 08:26 PM   #2 (permalink)
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Re: Magic Johnson wins bid for Dodgers

Quote:
Breaking from WSJ: Magic Johnson-led group buys LA Dodgers for $2 billion, shattering all previous prices paid for sports franchises.
Damn
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Old 03-27-2012, 09:03 PM   #3 (permalink)
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Re: Magic Johnson wins bid for Dodgers

2 bill?

****ing crazy.
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Old 03-27-2012, 09:13 PM   #4 (permalink)
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Re: Magic Johnson wins bid for Dodgers

The Dodgers are back!!! *eddie murphy laugh*
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Old 03-28-2012, 12:21 AM   #5 (permalink)
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Re: Magic Johnson wins bid for Dodgers

Rangers v2?
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Old 03-28-2012, 01:10 AM   #6 (permalink)
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Re: Magic Johnson wins bid for Dodgers

Maybe he can outdo MJ now, although he'd have to **** it up pretty badly just to outdo the McCourts.
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Old 03-28-2012, 11:13 AM   #7 (permalink)
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Re: Magic Johnson wins bid for Dodgers

Dodgers fan should be dancing in the streets right now

Seriously the team has some of the best young talent in the MLB there is no reason they shouldnt be in the playoffs
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Old 03-28-2012, 11:49 AM   #8 (permalink)
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Re: Magic Johnson wins bid for Dodgers

We are! Hallelujah!!
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Old 03-28-2012, 11:50 AM   #9 (permalink)
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Old 03-28-2012, 11:53 AM   #10 (permalink)
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Re: Magic Johnson wins bid for Dodgers

What gets me is how the McCourts could be such cheapskates in spite of being in the second largest market in the country. Not saying they should be throwing money at every half-way decent FA on the market, but you should not have a small market payroll when you're the Dodgers. You spend some money plugging a couple of holes and the NL West is pretty much there for the taking.
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Old 03-28-2012, 01:04 PM   #11 (permalink)
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Re: Magic Johnson wins bid for Dodgers

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Old 03-28-2012, 02:25 PM   #12 (permalink)
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Re: Magic Johnson wins bid for Dodgers

Quote:
Price for Dodgers questioned

LOS ANGELES -- While Los Angeles sports fans celebrate the sale of the Los Angeles Dodgers to a group headlined by Magic Johnson for a record price of $2 billion, several sport economists believe the group paid close to twice as much for the team than it is actually worth and question the viability of the deal.

"It was an extraordinary and surprising price," said Andrew Zimbalist, a professor of economics at Smith College. "I rarely admit to not anticipating these things but I did not anticipate a $2 billion price. Keep in mind, in addition to the price, the new ownership group will have to invest something in the neighborhood of $300 million to refurbishing Dodger Stadium and that price does not include $150 million for the surrounding real estate. At the end of the day, you have to question this deal."

Prior to the sale, many economists believed the price-tag of the Dodgers would surpass the $845 million the Chicago Cubs sold for in 2009, which was the most ever for an MLB team. Most figured it would be around the $1.1 billion figure the Miami Dolphins fetched three years ago, which was a record price for a professional sports team in North America. In the end, the sale of the Dodgers shattered both marks and set a world record, surpassing even the $1.47 billion Manchester United went for in 2005.

"It's the craziest deal ever; it makes no sense. That's why you saw so many groups drop out," said Mark Rosentraub, a University of Michigan sports management professor. "I don't get it. The numbers just don't work. It doesn't make business sense. Nobody came up with this number. Under the most favorable circumstance you broke $1.1 billion with $1.4 billion getting crazy. Now you're up in the $2 billion range, which is over $800 million more than what pencils out for a profitable investment for a baseball team. If making money doesn't count, this is a great move. But now we're into buying art and I can't value art. I can just run the model numbers and this doesn't make sense."
http://espn.go.com/los-angeles/mlb/s...makes-no-sense
...
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Old 03-29-2012, 05:14 PM   #13 (permalink)
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Re: Magic Johnson wins bid for Dodgers

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Old 04-13-2012, 11:38 PM   #14 (permalink)
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Re: Magic Johnson wins bid for Dodgers

Its official
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