Posts Tagged ‘Magic Johnson’
At 8 p.m. ET/PT, Trish Regan will host The Big Deal, a live one-hour report on Johnson’s role in the acquisition of the Dodgers. The show will feature interviews with Miami Dolphins owner and Related Companies CEO Steve Ross, former Dodgers manager Tommy Lasorda and Chris Bevilacqua, former chairman & CEO of CAA Sports Media Ventures and co-founder of College Sports Television.
At the nadir of the bankrupt Frank McCourt era, FishbowlLA offered up what we felt was a more fitting version of baseball’s seventh inning anthem. We’re sure glad we don’t have to sing that song anymore.
Thanks to this week’s $2.15 billion Dodgers deal, it’s time for a different Chavez Ravine shower refrain. So all together now, follow the bouncing billions and learn the words to “Take Me Out to the Bid Game:”
Take me out to the bid game,
Take me out with the zeros.
Buy me some land and broadcast rights,
I don’t care if it was a sneak attack,
@magicjohnson congrats on buying dodgers need a 1b or pinch hitter of the bench? Will play for free. Will donate salary charity
— Jose Canseco (@JoseCanseco) March 28, 2012
Canseco, 47, was recently bounced from the Mexican Baseball League after he admitted taking testosterone.
Something tells us Magic and the Dodgers will pass on his services.
Do you believe in Magic?
Magic Johnson‘s bidding group reached a deal to purchase the Los Angeles Dodgers and Dodger Stadium from Frank McCourt for a whopping $2 billion — the highest amount ever paid for a sports franchise. Bankruptcy judge Kevin Gross is expected to approve of the deal on April 13, a little over two weeks before McCourt must pay his ex-wife Jamie $131 million as part of their divorce settlement.
Guggenheim Baseball Management LLC are the official owners, which include Johnson, Mark R. Walter, Peter Guber, Stan Kasten, Bobby Patton and Todd Boehly. The controlling owner is Walter, chief executive officer of the financial services company. Kasten, the former president of the Washington Nationals and Atlanta Braves, is expected to run the day-to-day operations.
And then there were three.
The three finalists include a group led by hedge-fund billionaire Steven Cohen and Los Angeles billionaire and philanthropist Patrick Soon-Shiong; a group led by Magic Johnson and veteran baseball executive Stan Kasten; and St. Louis Rams owner Stan Kroenke.
The cut was confirmed by two people familiar with the sale process but not authorized to comment.
Major League Baseball owners are expected to vote on the three remaining bidders early next week. Final negotiations then would take place with Frank McCourt and Blackstone Advisory Partners, the investment bank brokering the sale.
Jon Weisman, Variety‘s most prominent baseball fan, shares a fun post today about the evolving MLB team sweepstakes. Although Magic Johnson and another bidder appear to be firmly in the lead, he notes that a Hollywood actress could also wind up in the owners box.
That would be Jami Gertz, wife of bidder Tony Ressler. Weisman dredges up the requisite Square Pegs and Seinfeld clips from YouTube, and also notes what could amount to a unique 6-4-3 ownership double play:
Gertz is already connected to baseball, thanks to Ressler’s position as a minority owner of the Milwaukee Brewers (partnered with another Hollywood connection, Mark Attanasio, brother of Homicide: Life on the Street creator Paul Attanasio).
Throughout his NBA and business career, Magic Johnson has always aspired to achieve great things. So it’s only logical that he would choose to call his new TV channel Aspire.
Per an LA Times article this morning by Meg James and Greg Braxton, Johnson’s channel is the first of several planned by Comcast TV as part of the company’s recent agreement with the FCC and Department of Justice to diversify. Aspire will offer a 24-hour mix of inspirational, family-friendly movies, comedy, music and more. From the article:
“This is so exciting for me, I’m pinching myself,” Johnson said in a phone interview. “This is big for myself, for the African-American community and the African-American creative community. I wanted a vehicle to show positive images and to have stories written, produced and directed by African-Americans for our community. Aspire — that’s how I’ve been leading my life.”
Is there anyone left on the planet who doesn’t have their eyes on the Dodgers? Mark Cuban tried, but the price was too high. Magic Johnson, Joe Torre, Rick Caruso and Roy Disney are all still in the running. Now Rupert Murdoch and News Corp want a piece. Next thing you know Jimma Hoffa is going to resurface and want in on the action.
News Corps’ interest, however, isn’t to buy the whole team, reports the Wall Street Journal. They just want enough of the pie to help their Fox division maintain its media stake in the team.
Fox is looking to become a minority investor to improve its chances of keeping the team’s television rights. The people say the company is interested in a 15-20% stake and is also offering to use its resources to help finance an acquisition of the team.