johnson bought the troubled team for a record $2 billion. wow. cnn's casey wian is in los angeles. $2 billion? >> reporter: it's an incredible amount of money, carolapproved by major league baseball and the bankruptcy court for a sports franchise in north america. a lot of dodger fans and full disclosure here including this one are very, very happy this morning. of course, magic johnson, the former los angeles laker legend and very successful los angeles businessman is part of the group, the face of an investment group that has agreed to acquire the los angeles dodgers, as you mentioned, for $2 billion. of course, this purchase is because of the financial troubles by the current owner of the team, frank mccourt. he bought the dodgers in 2004 with very little of his own money. he promised a new era of family ownership for the team. that quickly fell apart once he and his wife, jamie mccourt, who is also an executive of the los angeles dodgers, had marital problems, ultimately filing for divorce. the dodgers went into bankruptcy and were very, very mediocre on the field. one of the best known los angeles dodgers, former dodger manager tommy lasorda