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The city of Los Angeles rejoiced last night when it was revealed that the next owner of the Dodgers will be beloved former Laker Magic Johnson. Fronting a group called Guggenheim Baseball Management, Magic joins a group of investors including movie producer Peter Guber, Guggenheim Partners president Todd Boehly, Bobby Patton, and Stan Kasten, former president of the Atlanta Braves and Washington Nationals.

The group paid a mind-bending $2bn for the team, by far the most ever paid for a sports franchise. The only downside to all of this is that Frank McCourt just became the most financially successful owner in the history of American sports. He will retain an undisclosed interest in the land surrounding Dodger Stadium.

Magic just posted this image on his Twitter:

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