Dodgers Sale To Magic Johnson Group Wins Bankruptcy Court OK

Sale of the Los Angeles Dodgers for a record $2.15 billion to a group led by former LA Lakers star Magic Johnson has been approved by federal bankruptcy Judge Kevin Goss, Bloomberg reports. Buyers also include Guggenheim Partners Chief Executive Officer Mark Walter and former Atlanta Braves and Washington Nationals President Stan Kasten. Remaining disputes between the bankrupt team and Major League Baseball will be submitted to the judge, who is expected to make final decisions to allow the deal to close April 30. MLB’s remaining issues with the proposed sale include who will own stadium parking lots and whether court-appointed mediator Joseph Farnan will retain authority to make final rulings related to the transaction. Gross praised Farnan, a retired federal judge, asserting that without his work, the sale and the end of bankruptcy would have taken much longer. If the deal proceeds as expected, the Dodgers can exit bankruptcy April 30.

Related: Magic Johnson’s Group Wins Bidding To Buy Dodgers For $2B