A New Day Is Upon Us

March 27, 2012 the day a new era in Dodgers history was born. Magic Johnson, Stan Kasten and Mark Walter are named as the new owners of the Los Angeles Dodgers. Obviously this announcement was met with a lot of excitement here in L.A. Magic Johnson the man synonymous with L.A Sports history. So what happens next? Who is controlling the Dodgers? Is McCourt still involved? Well let me try and sort out some of these questions.

So who are the individuals involved in the Magic/Kasten group?

  • Mark Walter - The CEO of the Guggenheim Partners, a privately held financial company, that is based out of Chicago and New York. They control $126 billion in assets. The company has over 1,700 employees worldwide with more than 25 offices in 10 countries. Walter will become the controlling owner of the Dodgers. More on the Guggenheim Partners on their website.
  • Bobby Patton and Todd Boehly - Guggenheim Partners president who operates oil and gas properties among their investments.
  • Magic Johnson – The Face and executive for group, will be reaching out to free agents at 12:01 AM on free agent signing day.
  • Stan Kasten – Former president of Atlanta Braves and Washington Nationals. Responsible for putting together the teams in Atlanta that won 14 consecutive division titles. Also for building the young Nationals team.
  • Peter Gruber - Mandalay Entertainment chief executive also a minority owner of the Golden State Warriors.
Does Frank McCourt have a controlling interest in the Land or parking Lots?
From what I have heard and what is being reported is that McCourt and the magic group do have a partnership, but nothing that is giving McCourt control of the lots. The Magic group has complete control of the lots for all baseball activities. McCourt is a very small minority owner. The joint venture between Magic’s group and McCourt does not permit parking lot development unless both sides agree. I am guessing McCourt will be eventually phased out, as I don’t see his reputation in this city ever improving. So we are free to park in the lots, or walk in, whatever it is you want to do, but McCourt is NO LONGER in control.
How is this deal financed?
Bill Shaikin has just reported the deal is all cash, no financing. MLB review will be formality because of no debt added to team liabilities.
When will the Press conference be?
Magic and Company expected to hold introductory news conference in LA early next week, probably Tuesday.
Will there be new Front Office Management?
Stan Kasten: No immediate plans for front office changes, wants to support LAD execs. “I go in assuming everyone is doing their job properly.”