Does Magic Johnson Own the Dodgers? World Series Win Comes 8 Years After Lakers Legend Purchased Team

Los Angeles won't forget the last two weeks in a hurry and neither will former NBA great Magic Johnson. Two weeks on after celebrating the Los Angeles Lakers winning their first NBA title in a decade, the City of Angels toasted the end of another major sporting drought as the Los Angeles Dodgers won the World Series for the first time since 1988.

If seeing the Lakers returning to the top of the basketball world was obviously special for Magic, who won five NBA titles with the Purple and Gold during 13 season with the franchise, the Dodgers' triumph had a completely different flavor as he celebrated from the standpoint of a franchise owner.

I want to thank @Dodgers Chairman, Owner, & my great friend Mark Walter for allowing me to be one of the owners of this incredible team. This is what we talked about 8 years ago when we bought the team. We wanted to win the World Series & tonight our dream came true!! #Dodgers

— Earvin Magic Johnson (@MagicJohnson) October 28, 2020

"I want to thank @Dodgers Chairman, Owner, & my great friend Mark Walter for allowing me to be one of the owners of this incredible team," Magic tweeted on Tuesday night, after the Dodgers defeated the Tampa Bay Rays 3-1 in Game 6 to clinch the Fall Classic.

"This is what we talked about 8 years ago when we bought the team. We wanted to win the World Series & tonight our dream came true!! #Dodgers."

The three-time NBA Finals MVP became the co-owner of the Dodgers in March 2012, purchasing the franchise as part of a group of investors including former Atlanta Braves and Washington Nationals president Stan Kasten, movie executive and Golden State Warriors co-owner Peter Gruber and global investment firm Guggenheim Partners.

#Dodgers 💙💙💙

— Earvin Magic Johnson (@MagicJohnson) October 28, 2020

The Magic-led group paid approximately $2 billion to purchase the Dodgers from Frank McCourt, who in 2004 had paid $430 million to purchase the team, Dodger Stadium and 250 acres of land including the parking lots from FOX.

The $2 billion Magic and his co-investors paid for the Dodgers was the largest amount ever spent on a sports franchise, comfortably dwarfing the $1.47 billion deal Tampa Bay Buccaneers owner Malcolm Glazers and his family agreed to take over Premier League giants Manchester United in 2005 and the $1.1 billion Stephen Ross paid to purchase the Miami Dolphins four years later.

According to court filings disclosed two months before the Dodgers were sold to Johnson and his partners, the franchise's debt stood at $579 million.

The Dodgers missed the playoffs in the season that began shortly after the takeover was completed, extending their postseason drought to a third consecutive year.

Since then, however, the team has been completely transformed, turning from an also-ran into one of the big spenders and a dominant force in the MLB.

The Dodgers have won eight consecutive divisional titles, reaching back-to-back World Series in 2017 and 2018 only to lose against the Houston Astros and the Boston Red Sox.

The Dodgers fell in the National League Championship Series in 2013 and 2016 on top of being eliminated in the National League Division Series in 2014, 2015 and 2019.

An already star-studded roster featuring Clayton Kershaw, Cody Bellinger and Corey Seager was further strengthened in February, when the Dodgers acquired Mookie Betts in February from the Red Sox along with David Price in exchange for Alex Verdugo, Connor Wong and Jeter Downs.

The Dodgers invested heavily in the four-time All Star in July, signing him to a monster 12-year extension worth $365 million—the richest contract in Dodgers history and the third-most lucrative deal in the history of North American sports.

Oh and 🗣@KingJames is the best basketball player in the world and @mookiebetts is the best baseball player in the world!!

— Earvin Magic Johnson (@MagicJohnson) October 28, 2020

Betts repaid the investment, hitting .296 with nine extra-base hits, eight RBIs, 15 runs scored and six stolen bases in the postseason on top of a series of eye-catching and game-saving plays in the outfield.

The 28-year-old hit the go-ahead run in Game 6 and then homered in the bottom of the eighth inning to extend the Dodgers' lead to 3-1, prompting Johnson to compare him to Lakers' star LeBron James.

The current year has been one of the strangest in living memory, but Magic and the majority of sports fans in Los Angeles will always cherish the memories made this October.

Magic Johnson, Los Angeles Dodgers
NBA Hall of Fame player and Los Angeles Dodgers part owner Magic Johnson attends Game Two of the 2020 MLB World Series between the Los Angeles Dodgers and the Tampa Bay Rays at Globe Life Field on October 21 in Arlington, Texas. The Dodgers defeated the Rays in six games to win a first World Series title since 1988. Tom Pennington/Getty