Business News

Transcript

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. Transcript provided by NPR, Copyright National Public Radio.