The Dodgers have kicked off their season with a phenomenal record, but now the new owners can finally start rejoicing because the $2 billion deal is officially CLOSED!
Magic Johnson is now the public face of the major league ball club with Mark Walter running things behind the scenes while Stan Kasten serves as CEO.
“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.”
Former owner Frank McCourt, who drove the team into bankruptcy, didn't make out too bad either. He reportedly made about a billion bucks through the deal and still got to maintain some ownership of the stadium's parking lot.
One would think all this financial turmoil would have affected the team's game, but they are better than ever. Matt Kemp and the rest of the Dodgers crew are #1 in the National League West!
Keep up the good work, guys! Playoffs are a LONG way off!
[Image via WENN.]
Tags: bankruptcy, ceo, deal, dodgers, frank mccourt, los angeles, magic johnson, major league baseball, mark walter, mlb, national league west, sel lay, stan kasten