Group Led by Magic Johnson, Jersey’s Kasten Buy Dodgers with Record $2.15B Offer

more+
less-

Ending the soap opera that overshadowed last season for the Los Angeles Dodgers, a group of investors, including basketball hall of famer Magic Johnson, won a bankruptcy action for the Los Angeles Dodgers with a bid of $2.15 billion.

The deal will be formally presented to judge Kevin Gross for a bankruptcy law review and final approval next month. Last year, owner Frank McCourt filed for Chapter 11 bankruptcy protection, throwing the team into turmoil.

While Johnson is expected to serve as an ownership spokesman who will use his special connection to the Los Angeles market, the other partners are also notable. The controlling partner in the bid is Mark Walter, who currently serves as the head of the Guggenheim Partners investment firm, which is based in New York and Chicago. The president of Guggenheim, Todd Boehly, is also involved in the deal.

LOADING PDF: If there are any problems, click here to download the file.

Written by:

Published In:

DISCLAIMER: Because of the generality of this update, the information provided herein may not be applicable in all situations and should not be acted upon without specific legal advice based on particular situations.

© Joel Glucksman, Scarinci Hollenbeck | Attorney Advertising

Don't miss a thing! Build a custom news brief:

Read fresh new writing on compliance, cybersecurity, Dodd-Frank, whistleblowers, social media, hiring & firing, patent reform, the NLRB, Obamacare, the SEC…

…or whatever matters the most to you. Follow authors, firms, and topics on JD Supra.

Create your news brief now - it's free and easy »

All the intelligence you need, in one easy email:

Great! Your first step to building an email digest of JD Supra authors and topics. Log in with LinkedIn so we can start sending your digest...

Sign up for your custom alerts now, using LinkedIn ›

* With LinkedIn, you don't need to create a separate login to manage your free JD Supra account, and we can make suggestions based on your needs and interests. We will not post anything on LinkedIn in your name.
×
Loading...
×
×