LOS ANGELES, Feb. 13 (UPI) -- The sale of the Los Angeles Dodgers from the Fox Entertainment Group to Boston real estate developer Frank McCourt was finally made official Friday.
The closing of the sale came a little more than four months after McCourt agreed to buy the storied National League team along with Dodger Stadium and training facilities in Vero Beach and the Dominican Republic for roughly $450 million.
"My family and I are extremely excited to have learned that the closing is official and to have this process behind us so that we now move forward with our plans," McCourt said.
The sale, announced Oct. 10, was approved by Major League Baseball's ownership group on Jan. 29.
It is the second sale of the Dodgers in recent years. In 1998, Fox purchased the team for $315 million from Peter O'Malley, whose family owned the Dodgers since the 1950s and orchestrated the move from Brooklyn to the West Coast in 1958.