Magic Johnson going after Dodgers

And he apparently has the money lined up, telling LAT columnist Bill Plaschke that he would be part of an ownership group that includes Stan Kasten, former president of the Atlanta Braves and Washington Nationals, and Mark Walter, CEO of Guggenheim Partners, a financial services firm. From the Times:

"The first thing I asked Walter was, 'Do you want to win, and do you want to put money in?' He said, 'Absolutely.' "Both guys are about building a winner and making a difference in the L.A. community." That Johnson has his money lined up puts him, for now, ahead of several potential bidders, including former Dodgers owner Peter O'Malley. Kasten, one of baseball's power brokers, has been rumored as a candidate for commissioner upon the eventual retirement of Bud Selig.

Keep in mind that bidding for the Dodgers will not be a popularity contest. It's mostly about who has the highest offer, especially since current owner Frank McCourt will oversee the auction. Also keep in mind that the team's financial books have yet to go out to prospective bidders and goodness knows what surprises those might have.

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Mark Lacter
Mark Lacter created the LA Biz Observed blog in 2006. He posted until the day before his death on Nov. 13, 2013.
Mark Lacter, business writer and editor was 59
The multi-talented Mark Lacter
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