Magic Johnson to become owner of Los Angeles Dodgers

Former Los Angeles Lakers basketball star Magic Johnson looks set to become the new owner of baseball side Los Angeles Dodgers.

Johnson and his backers have agreed to pay $2.3bn (£1.5bn) for the Dodgers, the highest price paid for a professional sports club.

Johnson said in a statement: "I am thrilled to be part of the historic Dodger franchise."

He also added that the new owners "intend to build on the fantastic foundation laid by Frank McCourt as we drive the Dodgers back to the front page of the sports section".

Johnson is a partner in the purchase alongside baseball executive Stan Kasten and Hollywood producer Peter Guber.