Post by Vegas on Mar 27, 2012 23:05:15 GMT -5
Dodgers sold to Magic Johnson group
NEW YORK -- Los Angeles Dodgers owner Frank McCourt announced an agreement on Monday night to sell the bankrupt team for $2 billion to a group that includes former Los Angeles Lakers star Magic Johnson and former Atlanta Braves and Washington Nationals president Stan Kasten.
The agreement, revealed about five hours after Major League Baseball owners approved three finalists for the auction, is to lead to a transfer of the team by the end of April. It is subject to approval in federal bankruptcy court.
Mark Walter, chief executive officer of the financial services firm Guggenheim Partners, would become the controlling owner. The price easily would be a record for a North American sports franchise.
espn.go.com/los-angeles/mlb/story/_/id/7745566/los-angeles-dodgers-selling-team-magic-johnson-group-2b
NEW YORK -- Los Angeles Dodgers owner Frank McCourt announced an agreement on Monday night to sell the bankrupt team for $2 billion to a group that includes former Los Angeles Lakers star Magic Johnson and former Atlanta Braves and Washington Nationals president Stan Kasten.
The agreement, revealed about five hours after Major League Baseball owners approved three finalists for the auction, is to lead to a transfer of the team by the end of April. It is subject to approval in federal bankruptcy court.
Mark Walter, chief executive officer of the financial services firm Guggenheim Partners, would become the controlling owner. The price easily would be a record for a North American sports franchise.
espn.go.com/los-angeles/mlb/story/_/id/7745566/los-angeles-dodgers-selling-team-magic-johnson-group-2b
