Magic Johnson invests in the L.A. Dodgers

The Dodgers have a new owner. The troubled franchise will be bought up by a group of investors, Magic Johnson among them.

The Dodgers have a new owner. The troubled franchise will be bought up by a group of investors, Magic Johnson among them.

And Johnson joins a growing list of celebrities investing in sports teams. But does making that kind of big investment really pay off for them? Does it increase their fame?

Here to talk with us in today's Mid-day Extra is Eric Fisher of SportsBusiness Journal.

The Former Lakers star heads a group of investors that bought the Dodgers for $2 billion. If the sale goes through it would be a record price for a sports team the last one was set in 2009 When The Chicago Cubs sold for $845 million.

Now, just for comparison's sake, here's what else you could buy for $2 billion these days: season tickets to see the Dodgers for the next 308,000 years. Or about 444 million dodger dogs -- and I'll bet if you buy that many you can have as many ketchup packets as you want.

About the author

Stacey Vanek Smith is a senior reporter for Marketplace, where she covers banking, consumer finance, housing and advertising.

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