Bankruptcy judge approves Dodgers sale

WILMINGTON, Del., April 14 (UPI) -- The sale of the Los Angeles Dodgers has been officially approved by a federal bankruptcy judge in Delaware.

Bankruptcy Judge Kevin Gross said late Friday Guggenheim Baseball had met all of the requirements for the $2.1 billion acquisition and officially sealed the transaction.

"We are pleased to have successfully concluded the Chapter 11 reorganization process," the Dodgers said in a written statement. "All the organization's goals in the reorganization cases have been achieved. We look forward to returning all of our attention to Dodger baseball."

Dodger fans have overall been strongly in favor of the sale as a way of reversing the team's financial woes and mediocre performance on the field in recent years. CNN said the malaise began when owners Frank and Jamie McCourt locked horns in a bitter and expensive divorce.

Guggenheim Baseball is led by hedge fund Chief Executive Officer Mark Walter along with former Los Angeles Lakers star Earvin Johnson and veteran baseball executive Stan Kasten.

The team has been run by Major League Baseball since last spring, and MLB raised some objections to the approval of the sale. MLB.com said the league expressed concerns Friday about the lack of time it was given to review various documents, particularly pertaining to the control of the vast parking lots at Dodger Stadium.

Gross, however, ruled there was no compelling reason to hold up the sale and said any lingering disputes could be settled after the ownership transfer.