LOS ANGELES, May 1 (UPI) -- The Los Angeles Dodgers confirmed Tuesday they are under new ownership following formal closure of the team's acquisition by Guggenheim Baseball Management.
Guggenheim, which includes former basketball star Earvin Johnson and hedge fund tycoon Mark Walter, bought the storied franchise from Frank McCourt for a lofty $2.15 billion and will bring it out of Chapter 11 bankruptcy.