Did Magic Johnson Really Buy the Dodgers? | The Nation

30 Mar

Technically a private business, major league baseball couldn’t exist without publically-funded stadiums. Now the Guggenheim Partners has bought the Dodgers with Magic Johnson as figurehead.

Based on early reports, this is a highly leveraged deal and Guggenheim Partners are counting on securing a massive new cable television contract to pay back their costs. According to the LA Times, this will mean higher cable bills for all Angelenos whether you are a baseball fan or not. In other words, the cost of buying of the Dodgers will passed on to the already strapped city of Los Angeles. The real buyers, therefore, are not Magic and the Guggenheims but the people of Los Angeles, most of whom will never set foot inside the stadium.

via Did Magic Johnson Really Buy the Dodgers? | The Nation.

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