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Magic Johnson’s group agrees to buy Dodgers for record price of $2 billion

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UPDATE: Here’s the text from the press release, officially announcing word of the agreement between the two sides:

The Los Angeles Dodgers and Frank McCourt today announced an agreement under which Guggenheim Baseball Management LLC (“GBM”) will acquire the Los Angeles Dodgers for $2 billion upon completion of the closing process.  The purchasing group includes Mark R. Walter as its controlling partner, as well as Earvin “Magic” Johnson, Peter Guber, Stan Kasten, Bobby Patton and Todd Boehly.  Mr. McCourt and certain affiliates of the purchasers will also be forming a joint venture, which will acquire the Chavez Ravine property for an additional $150 million.

The Los Angeles Dodgers stated, “This transaction underscores the Debtors’ objective to maximize the value of their estate and to emerge from Chapter 11 under a successful Plan of Reorganization, under which all creditors are paid in full.”

Frank McCourt stated, “This agreement with Guggenheim reflects both the strength and future potential of the Los Angeles Dodgers, and assures that the Dodgers will have new ownership with deep local roots, which bodes well for the Dodgers, its fans and the Los Angeles community.  We are delighted that this group will continue the important work we have started in the community, fulfilling our commitment to building 50 Dream Fields and helping with the effort to cure cancer.”

Earvin “Magic” Johnson stated, “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.”

11:08 PM: Whoa. Dennis K. Berman of the Wall Street Journal reports that Johnson’s group have agreed to purchase the Dodgers for $2 billion. One would think this offer would be good enough to include the parking lots, right?

The good news is that Dodgers fans will have the most popular sports figure in Los Angeles as part of the new ownership group, but McCourt is going to walk away from this thing filthy, stinkin’ rich.

11:06 PM: It’s Showtime.

Details are scarce at the moment, but Ken Gurnick of MLB.com reports that the Dodgers have reached an agreement to be sold to the group led by Magic Johnson and longtime MLB and NBA executive Stan Kasten.

MLB owners had approved the groups led by billionaire hedge-fund manager Steve Cohen and St. Louis Rams owner Stan Kroenke, but outgoing owner Frank McCourt has apparently identified Johnson’s group as the winning bidder. No word yet on the exact terms, but most estimates had the sale price to exceed $1.5 billion, which would establish a new record for a North American sports franchise.

Ichiro was happy to see Pete Rose get defensive about his hits record

SAN DIEGO, CALIFORNIA - JUNE 14:  Ichiro Suzuki #51 of the Miami Marlins warms-up during batting practice before a baseball game against the San Diego Padres at PETCO Park on June 14, 2016 in San Diego, California.   (Photo by Denis Poroy/Getty Images)
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You’ll recall the little controversy last month when Ichiro Suzuki passed Pete Rose’s hit total. Specifically, when Ichiro’s Japanese and American hit total reached Rose’s American total of 4,256 and a lot of people talked about Ichiro being the new “Hit King.” You’ll also recall that Rose himself got snippy about it, wondering if people would now think of him as “the Hit Queen,” which he took to be disrespect.

There’s a profile of Ichiro over at ESPN the Magazine and reporter Marly Rivera asked Ichiro about that. Ichiro’s comments were interesting and quite insightful about how ego and public perception work in the United States:

I was actually happy to see the Hit King get defensive. I kind of felt I was accepted. I heard that about five years ago Pete Rose did an interview, and he said that he wished that I could break that record. Obviously, this time around it was a different vibe. In the 16 years that I have been here, what I’ve noticed is that in America, when people feel like a person is below them, not just in numbers but in general, they will kind of talk you up. But then when you get up to the same level or maybe even higher, they get in attack mode; they are maybe not as supportive. I kind of felt that this time.

There’s a hell of a lot of truth to that. Whatever professional environment you’re in, you’ll see this play out. If you want to know how you’re doing, look at who your enemies and critics are. If they’re senior to you or better-established in your field, you’re probably doing something right. And they’re probably pretty insecure and maybe even a little afraid of you.

The rest of the article is well worth your time. Ichiro seems like a fascinating, insightful and intelligent dude.

There will be no criminal charges arising out of Curt Schilling’s video game debacle

Curt Schilling
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In 2012 Curt Schilling’s video game company, 38 Studios, delivered the fantasy role-playing game it had spent millions of dollars and countless man hours trying to deliver. And then the company folded, leaving both its employees and Rhode Island taxpayers, who underwrote much of the company’s operations via $75 million in loans, holding the bag.

The fallout to 38 Studios’ demise was more than what you see in your average business debacle. Rhode Island accused Schilling and his company of acts tantamount to fraud, claiming that it accepted tax dollars while withholding information about the true state of the company’s finances. Former employees, meanwhile, claimed — quite credibly, according to reports of the matter — that they too were lured to Rhode Island believing that their jobs were far more secure than they were. Many found themselves in extreme states of crisis when Schilling abruptly closed the company’s doors. For his part, Schilling has assailed Rhode Island politicians for using him as a scapegoat and a political punching bag in order to distract the public from their own misdeeds. There seems to be truth to everyone’s claims to some degree.

As a result of all of this, there have been several investigations and lawsuits into 38 Studios’ collapse. In 2012 the feds investigated the company and declined to bring charges. There is currently a civil lawsuit afoot and, alongside it, the State of Rhode Island has investigated for four years to see if anyone could be charged with a crime. Today there was an unexpected press conference in which it was revealed that, no, no one associated with 38 Studios will be charged with anything:

An eight-page explanation of the decision concluded by saying that “the quantity and qualify of the evidence of any criminal activity fell short of what would be necessary to prove any allegation beyond a reasonable doubt and as such the Rules of Professional Conduct precluded even offering a criminal charge for grand jury consideration.”

Schilling will likely crow about this on his various social media platforms, claiming it totally vindicates him. But, as he is a close watcher of any and all events related to Hillary Clinton, he no doubt knows that a long investigation resulting in a declination to file charges due to lack of evidence is not the same thing as a vindication. Bad judgment and poor management are still bad things, even if they’re not criminal matters.

Someone let me know if Schilling’s head explodes if and when someone points that out to him.