A group of investors led by Magic Johnson won a bidding war Tuesday and becoming the new owners of the Dodgers.
Johnson, who guided the Lakers to five NBA championships during the "Showtime" era of the 1980s, is a partner in the group along with longtime baseball executive Stan Kasten and movie executive Peter Guber. The controlling owner would be Mark Walter, chief executive officer of Guggenheim Partners, a Chicago-based financial services company.
The winning group paid $2 billion for the team -- a record for a sports franchise -- according to an announcement issued jointly with previous owner Frank McCourt.
"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.
If the deal goes through, Magic Johnson will become the first black MLB owner, according to DrJays.com.