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Magic Johnson greets Patrick Soon-Shiong during a Urban Economic Forum co-hosted by White House Business Council and U.S. Small Business Administration. They could be partners (sort of) if Soon-Shiong and Guggenheim Partners buy AEG.
Patrick Soon-Shiong — the richest man in Los Angeles, minority owner of the Lakers, and recently thwarted suitor for the Dodgers — has reportedly hooked up with none other than the investors who did the thwarting on his billion-plus bid for the Boys in Blue: Guggenheim Partners.
Or at least the adventurous investing subset of Guggenheim — a relatively staid Chicago-based manager of insurance-fund investments and other assets totaling around $180 billion — made up of CEO Mark Walter and executive Tim Boehly. They formed Guggenheim Baseball Management with Magic Johnson as a front man to snatch the Dodgers away from Soon-Shiong and hedge-funder Steven Cohen at the eleventh hour, with a bid more than $500 million above what anyone had expected.
It was the biggest deal in U.S. sports up to that point. But if Soon-Shiong, Walter, Boehly and whoever else they yank onboard manages to buy all of AEG, the deal would blow the Dodgers' $2 billion away. It could go for anywhere from $4 billion to even as high as $7 or $8 billion.