The Los Angeles Dodgers baseball team emerged from Chapter 11 reorganization last Friday after nearly ten months. A bankruptcy court approved the sale of the team to a private group for $2 billion, a record price for any North American sports franchise.
In the private group is LA Lakers star “Magic” Johnson, CEO of Guggenheim Partners Mark Walter, and former executive of Atlanta Braves and Washington Nationals Stan Kasten.
Financial troubles for the team started when former owner Frank McCourt and his wife filed for divorce. The two fought for ownership of the team until the MLB took over last April.
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