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US bankruptcy judge approves of plan for Los Angeles Dodgers sale
WILMINGTON, Del. (AP) ' A bankruptcy court judge in Delaware has approved the Los Angeles Dodgers' plan to sell the team for $2 billion, setting the team up to exit bankruptcy.
Friday's decision by U.S. Bankruptcy Judge Kevin Gross came at the conclusion of a two-part morning and evening hearing he called a "doubleheader."
The judge approved Dodgers owner Frank McCourt's plan to sell the team to Guggenheim Baseball Management, a group that includes former Los Angeles Lakers star Magic Johnson. Mark Walter, chief executive officer of the financial services firm Guggenheim Partners, would become the controlling owner, and the team would be run by former Atlanta Braves president Stan Kasten.