NEW YORK -- One Los Angeles institution is buying another.
A group that includes former Los Angeles Lakers star Magic Johnson and longtime baseball executive Stan Kasten agreed Tuesday night to buy the Los Angeles Dodgers from Frank McCourt for a record $2 billion.
The price would shatter the mark for a sports franchise. Stephen Ross paid $1.1 billion for the NFL's Miami Dolphins in 2009, and in England, Malcolm Glazer and his family took over the Manchester United soccer club in 2005 in a deal then valued at $1.47 billion. READ MORE
