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Closing on Dodgers sale moved to Tuesday

Closing on Dodgers sale moved to Tuesday

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Closing on Dodgers sale moved to Tuesday
DENVER -- The sale of the Dodgers did not close Monday as agreed upon through the bankruptcy court, but the $2.15 billion deal with Guggenheim Baseball Management is not in jeopardy and is now expected to close on Tuesday, according to the Los Angeles Times.

Based on a settlement with Major League Baseball and overseen by the bankruptcy court, owner Frank McCourt had until Monday to close the sale. McCourt also was required to pay his former wife, Jamie McCourt, a $131 million divorce settlement on Monday.

Guggenheim also paid $150 million for a 50-percent interest in the property surrounding Chavez Ravine and the stadium parking lots, in a joint venture with McCourt.

Mark Walter, CEO of Guggenheim Partners, will be the controlling partner; longtime sports executive Stan Kasten will be president and CEO; and former Lakers great Magic Johnson is a part-owner who will have a public role. The investor group includes Mandalay Entertainment chairman Peter Guber, Guggenheim Partners president Todd Boehly and Texas energy investor Bobby Patton.

Ken Gurnick is a reporter for MLB.com. This story was not subject to the approval of Major League Baseball or its clubs.

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