Over objections from Major League Baseball, U.S. Bankruptcy Court Judge Kevin Gross approved the sale of the Los Angeles Dodgers, Dodger Stadium and other assets to Guggenheim Baseball Management for $2.15 billion.
The objections to the sale rose from inconsistencies between the sales agreement and MLB rules, according to MLB attorney Thomas Lauria, who added that MLB didn’t want to kill the sale — just receive clarifications about some of the provisions. Gross addressed that issue by saying the involvement of mediator Joseph Farnan, who will work with Frank McCourt and Guggenheim on post-sale issues but would not be involved in baseball issues not part of the sales agreement.
According to Bill Shaikin, the court proceedings were surprisingly contentious; in a bankruptcy settlement overseen by a mediator, a judge is presented with a done deal, albeit with some issues that need final disposition. Let’s be honest here: MLB and McCourt have had major differences; McCourt has said he’s felt like he was forced out of baseball (and he’s right; he was after Bud Selig refused to approve a new broadcasting contract for the Dodgers that would have provided the franchise with badly needed capital) and Selig has disapproved of the way McCourt has run the team, putting virtually none of his own money into the Dodgers and taking out tens of millions at the same time the team was in danger of not making payroll. Both sides are right. But both sides will need to make peace: McCourt will still be involved peripherally with the Dodgers as the co-owner of the parking lots surrounding Dodger Stadium.
With the approval of the sale, you can put mark some dates on your calendar. Barring something unexpected, the sale should close April 30, with the Dodgers’ first home game under new ownership May 7 — with the San Francisco Giants in town.
RELATED STORIES: Time Warner mulling stake in Dodgers?; Dodgers sale expected to be approved Friday; Dodgers to mark 50th anniversary of Dodger Stadium in tonight’s season opener; Reax to Dodgers sale to Johnson group; Kasten, Johnson group to buy Dodgers, Dodger Stadium for $2 billion; The unimaginable emerges: The sale of naming rights to Dodger Stadium; Seven groups still in running for Dodgers; Dodgers sale complicated by McCourt decision to keep land surrounding Dodger Stadium; Torre quits MLB post to pursue Dodgers; O’Malley: I want to bring the Dodgers home; Dodgers lower season-ducat costs for 2012; Jamie to Frank: The Dodgers are yours; MLB to bankruptcy judge: Force McCourt to sell Dodgers or we’ll do it later; Weirdness bubbles to surface in Dodgers bankruptcy; Dodgers attendance woes could cost team $27 million; Judge: Dodgers must accept MLB loan; MLB: McCourt not acting in best interests of Dodgers; Dodgers: Selig was unfair toward us; McCourt files for bankruptcy on Dodgers, Dodger Stadium; Selig: No to proposed Fox/Dodgers TV deal; McCourts reach tentative divorce agreement, allowing Frank to keep Dodgers — maybe; Could McCourt lose Dodgers and keep Dodger Stadium?; Gloves are off for McCourt: Selig has no right seizing Dodgers; Schieffer new Dodgers monitor; McCourt response to Selig: strong words, no lawsuit; Selig seizes Dodgers from McCourt; Stow still in critical condition; No arrests at Dodger Stadium with new security system in place; Dodgers scrap half-price drink promotion;All quiet at AT&T Park last night; Security tight for tonight at AT&T Park Dodgers-Giants tilt;Dodgers up security; will it be enough?; Giants fan severely beaten in Dodger Stadium parking lot; suspects sought; Selig shoots down Fox loan to Dodgers; Messy McCourt divorce takes another turn
—-
Share your news with the baseball community. Send it to us ateditors@augustpublications.com.
Are you a subscriber to the weekly Ballpark Digest newsletter? You can sign up for a free subscription at the Newsletter Signup Page.
Join Ballpark Digest on Facebook and on Twitter!
Follow Ballpark Digest on Google + and add us to your circles!