Local legend Magic Johnson needs no introduction. He's one of the greatest NBA players of all time, has sports ownership experience as a former co-owner of the LA Lakers and is beloved for his philanthropy and HIV activism. As a longtime and well-known Angeleno, he provides that crucial "local" stake that Dodger fans have been clamoring for in a new owner.
But who are the others in Johnson's bidder group, now known as Guggenheim Baseball Management? Thankfully, the team includes Stan Kasten, an MLB vet with decades of baseball management experience under his belt. And since this is LA, there is a touch of Hollywood in the form of mega-producer Peter Guber of Mandalay Bay Entertainment. Lastly, there is money -- lots of it -- both from global investing firm Guggenheim Partners and some oil fields.
As for those who are saying "good riddance" to previous owner Frank McCourt, don't break out the champagne just yet. The official announcement notes that while McCourt is shedding ownership of the team, he also sold the Chavez Ravine (that means the land that the stadium and the parking lots are on) -- to himself. He and affiliates of some of the new owners have formed their own joint venture, buying the property for $150 million.
It's not exactly clear how that will play out when it comes to those infamous parking lots (in the past, McCourt has vowed to retain ownership even to the point of losing some bids), but LA Times baseball reporter Bill Shaikin tweets that Johnson and McCourt would have to agree on any new parking lot decisions, but that Johnson has veto power.
Dodger fans, meet the team's new owners.
Known For: One of the greatest NBA players of all time, Johnson captivated Los Angeles while leading the 1980s "Showtime" Lakers to five championships and seven finals appearances. Ownership Experience: Johnson previously owned a stake in the Los Angeles Lakers, and is currently an owner of the Dayton Dragons, a minor league baseball team. Day Job: Businessman, NBA Television Analyst
Known For: Walter is the CEO of Guggenheim Capital, a massive investment firm that manages over $125 billion in assets. Ownership Experience: Mark R. Walter is now the controlling partner of the Dodgers, meaning he'll have legal power over the franchise. It's not clear if he has any past experience owning a sports franchise. Day Job: Investor Pictured: Dodger Stadium before a game.
Known For: Being the first man in the history of professional to be president of three different teams simultaneously. In 1979, at 27-years-old, Kasten was the youngest general manager in the NBA with the Atlanta Hawks. While with the Hawks, he became the first and only NBA exec to win back-to-back NBA Executive of the Year Awards. Ownership Experience: Former president of the Washington Nationals, the Atlanta Braves, the Atlanta Hawks and the Atlanta Thrashers. AP notes that Kasten is expected to act as the Dodgers' top day-to-day executive. Day Job: Founding Partner of FanDriveMedia, a mobile sports marketing company.
Known For: A major Hollywood executive, Guber produced huge 1980s hits like Flashdance, Rain Man, and Batman. Ownership Experience: Guber is co-owner of the Golden State Warriors in the NBA and also co-owns a minor league baseball team with fellow Dodgers bidder Magic Johnson. Day Job: CEO of Mandalay Bay Entertainment
Known For: Boehly is the president of Guggenheim Partners, a massive investment firm that manages over $125 billion in assets. He has been a speaker at the Milken Institute Global Conference for the past three years, where he spoke on panels about forecasting financial markets and job creation. Ownership Experience: Todd Boehler has a stake in the winning Dodgers bid but it is not yet clear what his ownership role will be or if he has past experience owning a professional sports franchise. Day Job: Investor
Known For: Patton operates oil and gas properties among his investments Ownership Experience: Patton has a stake in the winning Dodgers bid but it is not yet clear what his ownership role will be, or if he has past experience with a professional sports franchise. Day Job: Investor