The Dodgers, Guggenheim Baseball Management LLC (“GBM”) and Frank McCourt on Tuesday announced the completion of the sale of the team 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 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.”
In the first action by the new owners Johnson announced Wednesday parking has been reduced from $15 to $10.
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