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CBS in LA - Magic's group buys Dodgers

RJKarl

RJKarl

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According to CBS sports in Los Angeles, the Dodgers have been sold to the group fronted by Magic Johnson.
Off the court he has had the golden touch.
 
How on earth are the dodgers worth that much more than the Lakers?

Shit ain't makin sense.
 
palmab03 said:
How on earth are the dodgers worth that much more than the Lakers?

Shit ain't makin sense.
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They own a ton of land and the stadium. At that price they have to own the parking as well.

with Magic involved they will get a huge TV deal.

Could this be Magic's first step in bringing a football team to Chavez Ravine to go with the Dodgers?
 
palmab03 said:
How on earth are the dodgers worth that much more than the Lakers?

Shit ain't makin sense.
Click to expand...

Higher attendance in more games? Do they have their own network? Ownership of Dodger Stadium?
 
It sounded like they bought the land in a seperate additional $150 million transaction. Got off the phone with my dodger nut fan. They have no network currently but you have to figure that is in the plans, as well as developing that whole area. Yeah I guess it seats 56,000, and yeah they own the stadium.

My buddies were pretty lucky to give away a few clips games this year in order to get season club dodgers tickets. Probably just shot up in value.
 
palmab03 said:
It sounded like they bought the land in a seperate additional $150 million transaction. Got off the phone with my dodger nut fan. They have no network currently but you have to figure that is in the plans, as well as developing that whole area. Yeah I guess it seats 56,000, and yeah they own the stadium.

My buddies were pretty lucky to give away a few clips games this year in order to get season club dodgers tickets. Probably just shot up in value.
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Magic owns the city. He probably made the development deal before making the bid. If they made about half of the parking into two tiers. That would leave lots of open space.

You could almost build a football stadium in the lower lots and a little extra space.

The city hated McCourt and wouldn't let him develop anything up there. When he first came in he said he was going to bulldoze the stadium to build homes and condos. Then he demanded the city build him a new ballpark.
 
I thought the stadium was going near the LA Live area and was gonna be developed by AEG
 
Until ground is broken nothing is for sure. Plus now that Magic and his group own the Dodgers, the entire landscape has changed.
 
The man was predicted to be dead long ago and now owns one of the most storied franchises in all of professional sports.

Magic Johnson would kick Chuck Norris' ass!
 
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TheIshThatSaved WakeForest said:
2 billion
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Greatly over paid. Media reports at having a value of about $1.2 Billion. Will take years to build the team back up, minor leagues back up and most importantly a lot of years to get a network going like YES does for the Yankees. In the meantime, the LA Angels will have taken over the city. And the ball park is getting fairly old and will need million for refurbishment or maybe even a new ball park [ at over $1 billion to build to compare to Yankee Stadium & Jerry Jones Arena ]
 
TheReff said:
Greatly over paid. Media reports at having a value of about $1.2 Billion. Will take years to build the team back up, minor leagues back up and most importantly a lot of years to get a network going like YES does for the Yankees. In the meantime, the LA Angels will have taken over the city. And the ball park is getting fairly old and will need million for refurbishment or maybe even a new ball park [ at over $1 billion to build to compare to Yankee Stadium & Jerry Jones Arena ]
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On a big night may a couple thousand people from OC go to Dodgers' games or from LA to Anaheim for Angels'. There are more people in those fifty miles than in 150 miles around St. Louis.

In reality having Magic involved instantly increases the interest in the Dodgers. It's not like hedge fund owner is buying the team or even Mark Cuban.
 
The Angels will never "take over the city."

And the stadium is fine as is.
 
Sandlapper Spike said:
$2 billion. All cash. No financing.

Uh, wow.
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i've seen conflicting reports on that. not sure what to make of it. i don't really get how they plan on making the 2 billion back which is cause for concern or at least skepticism. that being said, the fact that McCourt is (almost) gone is cause for celebration. what a POS. i can't believe he is making out as well as he is though. most people in LA would probably want to tar and feather his ass as he was chased out of town. ultimately Magic will be a nice influence from a PR standpoint. he's iconic in LA. still worried about the business side of things (see below)

stepping way back, you cannot tell me the Dodgers are the most valuable sports franchise in the world. and, the $2b is not based on a valuation having complete control. Which means the team, if Magic's group purchased 100% including all ancillary entities, is worth more than $2b. i don't believe it

arranging a $2b deal is not as easy as signing a personal guarantee as a rich guy, for a low interest rate. the cost of capital here is a function of several factors. even if it is all equity, which is possible. that equity can be more expensive than debt. if from insurance companies, or private equity funds, that equity may come with control provisions or minimum rates of return. the jury is still out, but any deal that large has to be noisy unless you're the sultan of brunai and can literally write a check or send a caravan with gold bars.
 
similar concerns in this ESPN article. just don't understand how it could have gotten to 2billion (while still allowing McCourt to have any part of the parking lots, ugh)

linky
 
RJKarl said:
On a big night may a couple thousand people from OC go to Dodgers' games or from LA to Anaheim for Angels'. There are more people in those fifty miles than in 150 miles around St. Louis.

In reality having Magic involved instantly increases the interest in the Dodgers. It's not like hedge fund owner is buying the team or even Mark Cuban.
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Most of Trump's wealth is in his brand. Same for Magic. And it does make a difference. Any chance of casino's in LA? Cali needs the revenue...
 
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