Dodgers’ Planned Sale Before Judge
WILMINGTON, Del. (AP) – A federal bankruptcy court judge in Delaware is deciding whether to approve a reorganization plan by the Los Angeles Dodgers that would put the team on track to exit bankruptcy by April 30.
The team said earlier this week that it expects U.S. Bankruptcy Judge Kevin Gross will confirm Frank McCourt’s plan to sell the team for $2 billion to Guggenheim Baseball Management. Mark Walter, chief executive officer of the financial services firm Guggenheim Partners, would become the controlling owner; former Atlanta Braves president Stan Kasten would run the team.
During a morning portion of the hearing, lawyers for the Dodgers and Fox, the Dodgers’ current broadcaster, said they’d agreed on language Fox had sought stating Time Warner Cable is not involved in the purchase.