Originally posted on Sports-Glory  |  Last updated 4/14/12

The sale of the Los Angeles Dodgers to the Guggenheim Baseball Management was approved in U.S. Bankruptcy Court on Friday.

In the morning session, Fox Sports agreed to withdraw its objection to the sale.

Fox, which owns the Dodgers TV rights through the 2013 season, wanted proof that the Dodgers sale to Guggenheim Baseball Management did not include an agreement with Time Warner Cable for a new television contract.  Fox was assured no deal was in place.

During the afternoon session, Major League Baseball objected the sale, arguing that MLB Commissioner Bud Selig should have control over the Dodgers.

Thomas Lauria representing the MLB said the league wanted more information and had several issues about the sales agreement regarding the structure of the new ownership group and its deal with Frank McCourt over the use of the land surrounding Dodger Stadium.  

It took six intense hours of arguing before Judge Kevin Gross eventually sided with the Dodgers.

If the sale which is scheduled to close on April 30 happens than the Dodgers first home game under new ownership will be May 7, against the San Francisco Giants.  

The Guggenheim group purchased the Dodgers from Frank McCourt for $2.15 billion.  Magic Johnson will be the face of the Dodgers' ownership while former president of the Atlanta Braves and Washington Nationals Stan Kasten will be the team president.

The Dodgers' controlling owner will be CEO of Guggenheim Financial Mark Walter.

McCourt and Guggenheim will own the Dodger Stadium parking lots through a joint venture.  McCourt was able to keep the land around Dodger Stadium because it was not part of the bankruptcy filing after he separated it from the team in 2005 to be controlled by a separate entity, which was approved by the MLB. 

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