Tuesday, May 1, 2012

Reuters: Bankruptcy News: L.A. Dodgers completes sale, ends bankruptcy

Reuters: Bankruptcy News
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L.A. Dodgers completes sale, ends bankruptcy
May 1st 2012, 17:49

Tue May 1, 2012 1:49pm EDT

May 1 (Reuters) - The Los Angeles Dodgers baseball team completed its $2 billion sale to Guggenheim Baseball Partners LLC and emerged from bankruptcy, the team said on Tuesday.

The deal is the richest in U.S. sports history and ends a contentious 10-month Chapter 11 bankruptcy that pitted former team owner Frank McCourt against Major League Baseball in a battle for control of the Dodgers. The Dodgers new ownership group includes basketball great Earvin "Magic" Johnson.

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