Frank McCourt surrendered ownership of the Dodgers on Tuesday, closing a turbulent chapter in the history of one of baseballs most historic franchises.
The new owners wired the final payment on the record 2.15-billion purchase price on Tuesday, closing the transaction that ended the McCourt era and ushering in Guggenheim Baseball as the Dodgers third owner since the OMalley family sold the team in 1998, individuals close to the negotiations confirmed.
The new ownership group, fronted by Magic Johnson and incoming Dodgers President Stan Kasten, is expected to hold its first news conference on Wednesday. Dodgers controlling owner Mark Walter, who arranged the financing as chief executive of Chicago-based Guggenheim Financial, is expected to make a rare public appearance at the news conference.
The new ownership will be charged with returning the Dodgers to the World Series for the first time since 1988. Every other team in the National League West has played in the World Series sin...