Correction, 6/7/12, 12:15 p.m. EDT: The original version of this story neglected to mention that Winston & Strawn helped advise Guggenheim Baseball Management LLC on its acquisition of the Los Angeles Dodgers. The eighth paragraph below has been revised to incorporate information about the Winston attorneys on the matter. We regret the omission.
Guggenheim Baseball / Los Angeles Dodgers
Earvin “Magic” Johnson helped transform the Los Angeles Lakers as a basketball player in the 1980s, and he’s part of a group of investors who are poised to do the same thing for the Los Angeles Dodgers. Guggenheim Baseball Management LLC agreed on March 28 to pay $2 billion to buy the major league baseball team out of bankruptcy in the largest deal ever for an American professional sports franchise. Guggenheim will pay $1.6 billion in cash and assume $400 million in debt for the Dodgers, who filed for Chapter 11 in June 2011. The new owners will also team up with their predecessor Frank McCourt to buy the parking lots around Dodger Stadium for $150 million.
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