Magic Johnson's Group Is Paying $2 Billion For The Dodgers Entirely In Cash

money cashThis is not Magic Johnson’s $2 billion in cash

Photo: AP Images

Major League Baseball is expected to quickly approve the $2 billion sale of the Los Angeles Dodgers because the buyers are paying in straight cash, Bill Shaikin of the LA Times reports.This is great news for Dodgers fans.

It means the Dodgers will avoid the financial problems that come with heaping debt onto a newly bought team.

Previous Dodgers owner Frank McCourt torpedoed the franchise by putting the team in debt, and a few English Premier League teams (Manchester United and, previously, Liverpool) fell into financial disarray after their new owners took out loans to finance the deals.

Magic Johnson is the public face of the group, but Guggenheim Partners CEO Mark R. Walter is the real owner.

Watch more about the deal below:

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