© 2024
NPR for Northern Colorado
Play Live Radio
Next Up:
0:00
0:00
0:00 0:00
Available On Air Stations

Los Angeles Dodgers To Be Sold In Historic Deal

RENEE MONTAGNE, HOST:

NPR's business news starts with new owners for the L.A. Dodgers.

One of the more legendary athletes here in Los Angeles, basketball's Magic Johnson is leading a consortium of investors to buy the Major League baseball team.

DAVID GREENE, HOST:

This is a $2 billion deal. And that shatters the record for the most money paid for a North American sports franchise. The NFL's Miami Dolphins went for $1.1 billion three years ago.

The sale of the L.A. Dodgers, if it's approved by the U.S. bankruptcy court, should bring relief to current owner Frank McCourt. He needs the money by the end of next month for a divorce settlement. He owes his ex-wife $131 million. Transcript provided by NPR, Copyright NPR.

Related Content
  • After a soap opera featuring divorce, debt and a team held in the balance, the Los Angeles Dodgers will have a new owner by the end of April. But the team and its fans are ready to focus on the field.
  • Embattled Los Angeles Dodgers owner Frank McCourt and Major League Baseball reached an agreement late Tuesday to sell the storied franchise. Roger Arrieta of Los Angeles, who started a website calling on billionaire Mark Cuban to "Save the Dodgers," plans a rally at the stadium to celebrate the sale.
  • Major League Baseball recently rejected a TV deal for the Dodgers that team owner Frank McCourt said would provide financial stability for the team. McCourt then filed bankruptcy in hopes of staving off the MLB.
  • Michele Norris speaks with NPR sports correspondent Tom Goldman about Major League Baseball's takeover of the Los Angeles Dodgers. Commissioner Bud Selig also said his office is investigating the club's finances.