Video: Magic Johnson Paid $50M for the Los Angeles Dodgers

| by Alex Groberman

Magic Johnson and his team of investors made their intentions very clear when they purchased the Los Angeles Dodgers for a cool $2 billion. They wanted to turn the Dodgers, a sputtering franchise in an excellent baseball market, into the New York Yankees of the West. That’s why they had no problem absorbing $250 million of mostly junk from the Boston Red Sox just to add a quality (in theory) first baseman. That’s why they’re not panicking over the team’s complete and total awfulness right now.

They have a long-term vision for this club – the Yankees of the left coast.

During a recent interview with HBO, Magic opened up about a number of interesting things including how much he personally paid for the right to become the Dodgers’ new owner. Check it out:

Obviously Magic is a successful businessman and very, very rich – but $50 million is nothing to sneeze at. That’s a pretty hefty investment. If all goes according to plan and the Dodgers are able to eat away at some of the Lakers’ popularity, it’ll be seen as worthwhile. If, however, Magic and Co. continue to spend money and the squad continues to underperform, perception of how smart everyone involved is may end up undergoing a serious change.

(Kudos Deadspin)

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