The record $2.15 billion sale of the Los Angeles Dodgers will not close on time. As the clock continues to click, the April 30 date that had been targeted to match a $131 million divorce payment to Frank McCourt’s former wife Jamie will not happen, according to anonymous sources to the Los Angeles Times. McCourt had already got a $140 million “bridge loan” to ensure that if Guggenheim Baseball Management – the group led by Mark Walter, Magic Johnson, and Stan Kasten, missed the date; he could ensure payment to his former wife.
Exact reasons for why the deal did not close on time have not yet surfaced. A source to The Biz of Baseball would only say that closing the sale “hit a snag.”
While there is a delay, there is no sense from sources that the sale is in jeopardy. According to the LA Times article, the hope is that the deal will now close on Tuesday.
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