SPORTS
May 2, 2012 | Greg Beacham, AP Sports Writer
Although the Southern California sun stayed behind the clouds, everything else about the Los Angeles Dodgers' introductory news conference for their new ownership group Wednesday signaled the dawn of a bright new era for a beloved franchise. Magic Johnson, Mark Walter and Stan Kasten stood on a stage in center field at Dodger Stadium on what venerable broadcaster Vin Scully called "a soft day," pulling on white jerseys and blue Dodgers caps for the club's third ownership change since 1998.
SPORTS
May 1, 2012 | Greg Risling, Associated Press
The tumultuous Frank McCourt era is over for the Los Angeles Dodgers. The $2 billion sale of the team to Guggenheim Baseball Management, a group that includes former Los Angeles Lakers star Magic Johnson, was finalized Tuesday. McCourt met with Dodgers employees Tuesday, expressing his appreciation, and introduced new controlling owner Mark Walter, said Howard Sunkin, a spokesman for McCourt. Walter is chief executive officer of the financial services firm Guggenheim Partners.
SPORTS
April 6, 2012 | Bernie Wilson, AP Sports Writer
With Magic Johnson and Frank McCourt watching from next to the dugout, the Los Angeles Dodgers beat the San Diego Padres 5-3 Thursday even though reigning NL Cy Young Award winner Clayton Kershaw left after three innings with the flu. Former Lakers great Johnson, part of a group buying the Dodgers for $2.15 billion from McCourt, had a big smile after Matt Kemp hit a two-run homer in the eighth, giving him three RBIs. Johnson and McCourt sat next to each other and chatted throughout the game.
A&E
March 28, 2012
McCourt's Dodgers close to selling The Los Angeles Dodgers, who were considered such a basket case a year ago that Bud Selig, the commissioner of baseball, took control of them away from Frank McCourt, are on the verge of being sold. They may sell for $1.5 billion or more, an extraordinary turnaround for McCourt, whose fortune developing Boston parking lots helped him buy the Dodgers. Now, in the final phase of the sale, Major League Baseball owners are expected to vote Wednesday by telephone on three bidders.
SPORTS
March 28, 2012
Dodgers owner Frank McCourt announced an agreement Tuesday night to sell the bankrupt team for $2 billion to a group that includes former Lakers star Magic Johnson and former Braves and Nationals president Stan Kasten. Kasten is expected to wind up as the team's top day-to-day executive. The agreement, revealed about five hours after Major League Baseball owners approved three finalists for the auction, is to lead to a transfer of the team by the end of April. It is subject to approval in federal bankruptcy court.
SPORTS
February 22, 2012 | Randall Chase, AP Business Writer
A bankruptcy judge on Wednesday approved the disclosure statement outlining the Los Angeles Dodgers' proposed bankruptcy reorganization plan, keeping the team's plan for an April 30 sale on track. Approval of the disclosure statement in a Chapter 11 case typically allows the process for soliciting votes from creditors to begin. But in the Dodgers case, the only creditor allowed to vote on the plan is LA Partners LLC, the parent company of LA Holdco LLC. Holdco, in turn, is the sole member of the Los Angeles Dodgers Holding Co. According to court documents, LA Partners is a wholly owned...