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Magic Johnson Paid $50 Million For His Share Of The Dodgers
By Delords - Wednesday, September 19, 2012
Ever since Magic Johnson and a group of investors bought the Los Angeles Dodgers earlier this season, many have been wondering how much money the former basketball star personally put toward the $2.15 billion purchase price from Frank McCourt.
Today, we finally have our answer: It's $50 million.
That revelation came thanks to Johnson himself during a profile on Tuesday night's edition of "HBO Real Sports." The contribution only works out to a 2.3 percent share of the team with Guggenheim Partners footing most of the tab, but let's be honest: That's still some serious bread.
Johnson said it was the biggest check he'd ever written and it's a clear signal he's not only working for Guggenheim by being the team's public face. He's also working for himself.
Johnson actually has a successful track record when it comes to investing in pro sports franchises. He bought 4.5 percent of the Los Angeles Lakers in 1994, then sold it in 2010 for a reported $50-60 million. His current net worth has been estimated as anywhere from $500 million to $770 million, depending on the source.
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