The Breakdown

Explaining Southern California's economy

And so it has ended: The Dodgers are sold

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36286 full

Well, our long local nightmare has finally drawn to an anticlimactic close. After a briefly alarming delay last night, the Los Angeles Dodgers are now no longer the property or Frank McCourt but belong instead to Guggenheim Baseball Management, a group made up chiefly of Magic Johnson, Stan Kasten, and Mark Walter, the CEO of Guggenheim Partners. The purchase price was a whopping, record-setting $2.15 billion. 

The thorn in the side of Angelenos who grew to...well, let's just say dislike McCourt over the years will be the former owner's 50-percent stake in the parking lots around Dodger Stadium. GBM will get to collect the parking fees for games, but McCourt will be able to propose development plans — although they'll have to be approved by the new owners.

The press conference is tomorrow. Don't know where it is yet, nor what time, but rumor has it that Walter will be in attendance.

Now...on to the Padres!

Follow Matthew DeBord and the DeBord Report on Twitter.

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