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Los Angeles Dodgers To Be Sold In Historic Deal

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Los Angeles Dodgers To Be Sold In Historic Deal

Business

Los Angeles Dodgers To Be Sold In Historic Deal

Los Angeles Dodgers To Be Sold In Historic Deal

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A group that includes former Lakers star Magic Johnson agreed Tuesday night to buy the Los Angeles Dodgers from Frank McCourt for a record $2 billion. The price would shatter the mark for a North American sports franchise, topping the $1.1 billion Stephen Ross paid for the NFL's Miami Dolphins in 2009.

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.

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