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Dodgers’ sale expected to be finalized Tuesday

Apr 30, 2012, 9:09 PM EDT

Magic Johnson, Frank McCourt AP

UPDATE: Bill Shaikin of the Los Angeles Times reports that the sale will not close today, as originally expected. No reason for panic, though, as the sale is not in danger and should close early tomorrow.

In other exciting Dodgers’ news, Matt Kemp hit his 12th home run of the season in the first inning tonight against the Rockies.

Saturday, 1:34 p.m. ET: Rejoice Dodgers’ fans, as the painful and tumultuous reign of Frank McCourt is set to come to an end Monday.

Bill Shaikin of the Los Angeles Times passes along word that yesterday was the deadline for objections to be filed to the U.S. Bankruptcy Court on the pending deal which will transfer ownership of the franchise from McCourt to Guggenheim Baseball Partners, a group led by Mark Walter, Stan Kasten and Magic Johnson. No such objections were filed, though, so the final major hurdle was effectively crossed.

Attorneys for Guggenheim, McCourt and MLB are still working through extensive documentation on the sale, but the expectation is that the new ownership group will be in place by the time the Dodgers take the field against the Rockies on Monday night.

The Guggenheim group agreed to purchase the Dodgers from McCourt for $2.15 billion, a new record for a sports franchise. McCourt is required to pay $131 million of that haul to his ex-wife, Jamie, on Monday as part of their divorce settlement.

  1. randygnyc - Apr 28, 2012 at 2:06 PM

    Drastically overpaid. I’m not a dodgers fan, but I like some players and love their announcer. If I was a fan, I’d be torn between being relieved McCourt is gone and worried that the cost to repay these overinflated payments could hold back from advancing the product on the field, for years to come.

    • andrebeingandre16 - Apr 28, 2012 at 2:33 PM

      As Stan Kastan said this group didnt spend its last 2.15 billion dollars to buy the team. All this talk that they wont have enough money to spend money on the team seems absurd to me. I dont think they had the intention to spend all this cash and let it be run like a mid market team the way Frank McCourt was.

    • lanflfan - Apr 29, 2012 at 10:22 AM

      2.15 million is a VERY small price to pay to rid baseball of McAsshat ($elig should donate some of that himself to correct HIS McMistake). He’s like a wart that keeps growing back, you do whatever is necessary to get rid of it. Imagine if the Yankees were suddenly sold to an inept fool, say Jeffrey Loria. You really don’t care how much it costs to rid the team of its albatross, once its gone support the team and make things better.

      There aren’t too many markets bigger than LA, so I think we can help our new owners fund the team just by doing what LA fans do best: but a ticket, arrive in the 3rd inning and leave in the 7th inning to beat traffic (as the silly stereotype goes). No more boycott means 3+ million fans putting money back into the team, thank you very much.

      • Jeff M. - May 1, 2012 at 5:22 AM

        Yes, 2.15 Million would indeed be a small price to pay. But, I think you meant 2 *billion.*

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