Deals
Dodgers’ Bankruptcy Recovery Plan Hinges on $2 Billion Team Sale
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Major League Baseball’s Los Angeles Dodgers said creditors will be paid in full and the team is expected to exit Chapter 11 by April 30 under an amended reorganization plan.
The plan, filed yesterday in federal bankruptcy court in Wilmington, Delaware, rests on a $2 billion sale of all the equity in the team to Guggenheim Baseball LP, the Dodgers said in a statement today. A hearing to seek court approval of the amended plan is set for April 13, with the sale to close on or before April 30, according to court filings.