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Magic Johnson announces bid to buy Dodgers

Magic Johnson is seen in this undated file photo.
December 2, 2011 12:07:23 AM PST
Earvin "Magic" Johnson announced on Friday his bid to buy the Los Angeles Dodgers.

"I'm excited to have the opportunity to be part of the Dodgers legacy & bring a World Series championship back to LA," Johnson Tweeted.

Johnson also told ESPN that he is a big baseball fan and is part of a group that is seeking to buy the team.

"You think about what the Dodgers have meant to baseball and to Los Angeles, and that part's a no-brainer," he told ESPN.

Johnson is joining a team of investors backed by Guggenheim Baseball Management. According to ESPN, Johnson was approached about the bid by Stan Kasten, former president of the Atlanta Braves and the Washington Nationals. The group also includes Mark Walter, CEO of Guggenheim Partners, which has more than $125 billion in assets under management.

The Dodgers filed for bankruptcy protection in June after Major League Baseball refused to approve a renegotiated TV deal for the Dodgers' TV rights.

Dodgers owner Frank McCourt is seeking upwards of $1 billion to sell the team he paid $420 million for less than 10 years ago. McCourt has a hand in picking a buyer for the Dodgers, but has remained mum about his possible choice among the field of candidates.

Jamie McCourt and MLB spokesperson Pat Courtney have declined to comment.

The list of potential buyers includes Dallas Mavericks owner Mark Cuban, former Dodgers owner Peter O'Malley, a team of investors including former Dodger greats Steve Garvey and Orel Hershiser, former Dodgers general manager Fred Claire, and even Larry King, who is with a group of investors headed by Dennis Gilbert, an official with the Chicago White Sox, and an insurance agent.


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