Report: The Sale Of Los Angeles Dodgers Goes Through
The sale of the Los Angeles Dodgers has been completed, according to Bill Shaikin of the Los Angeles Times.
Source: #Dodgers sale has closed. McCourt era has ended.
— Bill Shaikin (@BillShaikin) May 1, 2012
The sale was expected to have been closed Monday but was delayed for an undisclosed reason. Outgoing owner Frank McCourt agreed to sell the team to a group headed by former Washington Nationals President Stan Kasten and NBA legend Magic Johnson for $2 billion. McCourt was forced to sell the team after financial woes have put him into bankruptcy. Major League Baseball took over financial control of the team early last season when it was reported that McCourt had to take out several high risk loans in order to make payroll.