Tuesday, May 01, 2012

The McCourt Era is Officially Over

It took only one extra day.

Bill Shaikin provides the news that the sale of the Dodgers to the Magic/Kasten/Guggenheim group has closed escrow.

It's done!  Completed!  Finito! 

I'm not sure if I should dance or cry.  All I do know is that there are better times ahead.
(Tweet Link)


The Dodgers just released the following:
LOS ANGELES, 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. As previously reported, the Dodgers’ new ownership includes Mark Walter as control person, 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.”

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