Magic Johnson And GBM Officially Take Over As Owners Of Dodgers

According to a press release from the Los Angeles Dodgers, the sale of the team from Frank McCourt to Guggenheim Baseball Management LLC (GBM) is now completed for $2 billion. The Dodgers are now officially owned by Mark Walter, Magic Johnson and Stan Kasten.

The Dodgers said this about the sale.

"The Dodgers emerge from the Chapter 11 reorganization process having achieved its objective of maximizing the value of the Dodgers through a successful Plan of Reorganization, under which all claims will be paid. The Dodgers move forward with confidence - in a strong financial position; as a premier Major League Baseball franchise; and as an integral part of and representative of the Los Angeles community."

The sale overcame its biggest final hurdle when a Delaware Bankruptcy Court formally approved of the sale in mid-April.

The Dodgers are currently 16-7 and first in the NL West.

For more on the Dodgers, check out True Blue LA.

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