Magic Johnson joins bid to buy Los Angeles Dodgers

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LOS ANGELES (AP) -- Magic Johnson has joined a group bidding to buy the Los Angeles Dodgers.

The former Los Angeles Lakers superstar and part-owner said Friday he's partnering with former Atlanta Braves executive Stan Kasten and wealthy investor Mark Walter to join the auction for the Dodgers, who will be sold by Frank McCourt.

Johnson sold his equity stake in the Lakers in October 2010. The former point guard became a successful businessman after his career ended, and was widely rumored to be looking for a larger ownership stake in another pro sports franchise after parting amicably with the Lakers.

Kasten is the former president of the Braves and the Washington Nationals, while Walter is the CEO of a global financial services firm. Their bidding organization will be called Guggenheim Baseball Management.

The Los Angeles Times first reported Johnson's interest in the Dodgers.