Sports

Sparks Bought by Group Led by Magic Johnson and Mark Walter

The Sparks have been sold to an investment group led by Lakers legend Magic Johnson and Dodgers controlling owner Mark Walter, chief executive officer of Guggenheim Partners, a Chicago-based financial services company.

wnba

Candace Parker averaged 17.9 points with 8.7 rebounds per game for the Sparks last season. (Credit: Los Angeles Times)

Todd Boehly and Bobby Patton, other members of the group that paid a record $2.15 billion for the Dodgers in March 2012, are also in on the Sparks purchase. The only Dodgers owner who is not is Peter Guber, who owns a stake in the NBA’s Golden State Warriors.

The Sparks purchase is not the first effort by Walter and Boehly to expand the Guggenheim sports holdings beyond baseball. The Guggenheim executives have acknowledged talks with the NFL about a potential football stadium in the Dodger Stadium parking lot.

Guggenheim also was one of the bidders for AEG Live, which Phil Anschutz put up for sale in 2012 and then took off the market last March. The AEG live portfolio includes all or part of the Kings, Lakers, Galaxy, Staples Center and StubHub Center.

Click here to read the full story at LATimes.com.

Advertisement

Advertisement