LOS ANGELES, California – Magic Johnson and a group of investors successfully inked a deal to purchase the Los Angeles Dodgers for $2.15 billion.

The staggering sum, which broke the record for the most money spent on a professional sports team, was agreed upon last night and will be finalized late April.

“I am thrilled to be part of the historic Dodger franchise and 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 in our wonderful community of Los Angeles,” the former Laker star said in a statement.

Frank McCourt, the Dodgers’ former owner, will get to purchase the land surrounding Dodger Stadium for $150 million in a possible joint venture with the Magic Johnson Group as part of the deal.