A look at what's on deck in the LA Dodgers ownership saga

Magic Johnson's Group to Close on Dodgers Deal

A judge approved the Dodgers sale earlier this month to a group that includes Magic Johnson

By Jonathan Lloyd
|  Tuesday, May 1, 2012  |  Updated 6:24 AM PDT
View Comments (
)
|
Email
|
Print
Dodgers 2012: A New Era

Getty

Magic Johnson sits next to outgoing Dodgers owner Frank McCourt at Dodgers Stadium.

advertisement
Photos and Videos
More Photos and Videos

The LA Dodgers were expected to be under new ownership Monday night when they took on the Rockies in Denver, but the the LA Times reported that the sale was delayed.

The Changeup: The Frank McCourt Era, Timeline of Events

The Times, citing anonymous sources, reported that the hope is that the deal can close Tuesday.

No objections to the proposed deal -- a $2.15 billion offer from a group that includes Laker great Magic Johnson -- were received by the U.S. Bankruptcy Court by the Friday deadline. The transaction would officially transfer ownership of the team from Frank McCourt to Guggenheim Baseball, a group led by Johnson, former Atlanta Braves President Stan Kasten and Guggenheim Partners Chief Executive Officer Mark Walter.

Read: About the Dodgers' New Owners

A bankruptcy judge approved the sale April 13, marking the close of a contentious court case that began when the team filed for bankruptcy last year. Attorneys for McCourt and Major League Baseball squared off during the summer in a Delaware bankruptcy court, arguing over the Chapter 11 reorganization.

MLB attorneys argued successfully that the team accept bankruptcy financing from the league, marking another lowpoint for one of baseball's most storied franchises.

The Guggenheim group's offer eclipses the $1.47 billion offered for England soccer club Manchester United in 2005. The current record for a baseball franchise is $845 million -- the amount paid by the Ricketts family for the Chicago Cubs in 2009.

LA is coming off a sweep of the Nationals and leads the National League West by four games over San Francisco coming into Monday.

Follow NBCLA for the latest LA news, events and entertainment: iPhone/iPad App | Facebook | Twitter | Google+ | Instagram | RSS | Text Alerts | Email Alerts

Get the latest headlines sent to your inbox!
View Comments (
)
|
Email
|
Print
Leave Comments
What's New
Running Dry
Coverage of the California drought. Read more
Follow Us
Sign up to receive news and updates that matter to you.
Send Us Your Story Tips
Check Out