The Los Angeles Dodgers announced late Tuesday that the team will be purchased for a record $2.15 billion by a group that includes former NBA and Los Angeles Lakers great Earvin "Magic" Johnson.
Also a part of the group is former Nationals and Atlanta Braves team president Stan Kasten. Johnson's group won out the right to buy the Dodgers over groups led by multiple sports team owner Stan Kroenke and New York Mets limited partner Steven Cohen.
Johnson said in a statement: "I am thrilled to be part of the historic Dodger franchise and intend to build on the fantastic foundation laid by Frank McCourt as we drive the Dodgers back to the front page of the sports section in our wonderful community of Los Angeles."
Kasten stepped down from his position with the Nationals at the end of the 2010 season. He was a critical part of rebuilding the Expos franchise once it moved to D.C. and added Mike Rizzo, who eventually became the executive vice president and general manager of the Nationals.
With the Dodgers, Kasten is expected to become the team's top executive, leading day-to-day operations.