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 McCourtâ€™s former wife Jamie will not happen, according to anonymous sources to the Los Angeles Times. McCourt had already got a $140 million â€śbridge loanâ€ť to ensure that if Guggenheim Baseball Management â€“ 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 â€śhit a snag.â€ť
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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Maury Brown is the Founder and President of the Business of Sports Network, which includes The Biz of Baseball, The Biz of Football, The Biz of Basketball and The Biz of Hockey. He writes for Baseball Prospectus and is a contributor to Forbes SportsMoney blog.. He is available as a freelance writer. Brown's full bio is here. He looks forward to your comments via email and can be contacted through the Business of Sports Network (select his name in the dropdown provided).
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