Los Angeles Dodgers Sale Finalized

By Community | May 1, 2012

The Los Angeles Dodgers, Guggenheim Baseball Management LLC GBM”) and Frank McCourt today announced the completion of the sale of the Dodgers to GBM for $2 billion.

The Dodgers’ new ownership includes Mark Walter as the controlling owner, Earvin “Magic” Johnson, and Stan Kasten as CEO of the organization.

The Los Angeles Dodgers stated, “The Dodgers emerge from the Chapter 11 reorganization process having achieved its objective of maximizing the value of the Dodgers through a successful Plan of Reorganization, under which all claims will be paid. The Dodgers move forward with confidence – in a strong financial position; as a premier Major League Baseball franchise; and as an integral part of and representative of the Los Angeles community.”

The Dodgers have won six World Series titles but none since 1988, when they were still owned by the O’Malley family that moved the team from Brooklyn to California after the 1957 season.