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MUMBAI:
The U.S Bankruptcy Court under Judge Kevin Gross Friday approved
the $2.15 billion sale of Los Angeles Dodgers and Dodger Stadium
to Magic Johnson fronted Guggenheim Baseball Management.
Guggenheim
Baseball Management includes Mark R. Walter as its controlling
partner, Magic Johnson, Peter Guber, Stan Kasten, Bobby Patton
and Todd Boehly.
"We
are pleased to have successfully concluded the Chapter 11
reorganisation process," Dodgers said. "All the
organisation's goals in the reorganisation cases have been
achieved. We look forward to returning all of our attention
to Dodger baseball."
Approval
came over objections from MLB that it needed "reasonable
time" to review documents from the sale and a right to
remedy -- to the point of vacating -- Gross' confirmation
of the sale if documents yet to be produced are found to be
in violation of MLB rules and regulations or contrary to information
provided when owners approved the Guggenheim bidding group.
The
Dodgers entered bankruptcy last June when they couldn't meet
player payroll or pay bills after MLB Commissioner Bud Selig
declined to approve a $3 billion agreement between Fox and
the Dodgers to extend their television broadcast rights.
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