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The deal ends the turbulent eight-year Frank McCourt ownership erafor one of the sport's flagship franchise and comes less than ayear after the team declared bankruptcy last June with McCourtembroiled in a complicated divorce. Stan Kasten, a former president of the Atlanta Braves andWashington Nationals, will be the president of the Dodgers. MarkWalter is the controlling owner of the team with former Los AngelesLakers star Johnson among those with a minority stake in a clubthat last reached the World Series in 1988. The Dodgers have the best record in the National League at 16-7after the first month of the six-month regular season. The Dodgers emerge from the Chapter 11 reorganization processhaving achieved its objective of maximizing the value of theDodgers through a successful plan of reorganization, under whichall claims will be paid, the team said in a statement. The Dodgers move forward with confidence in a strong financialposition, as a premier Major League Baseball franchise and as anintegral part of and representative of the Los Angeles community. McCourt had tried to sell off future broadcast rights to the teamfor money to help pay his divorce settlement and keep control ofthe team, but Major League Baseball commission Bud Selig rejectedthe deal, saying it would rob the club of financial assets it wouldneed to sign talent to be competitive. Eventually the two sides agreed on a court-ordered compromise thatwas agreed upon by a U.S. Bankruptcy Court. Selig called the sale process a long and difficult road but was pleased that the club can have the fresh start it deserves undernew ownership. I have said many times that we owed it to them to ensure that theclub was being operated properly and would be guided appropriatelyin the future, he said in a statement. It is my great hope andfirm expectation that today's change in ownership marks the startof a new era for the Los Angeles Dodgers. Ultimately, the sale produced a record figure in all of sports,illustrating the strength of our industry. McCourt is expected to clear nearly US$1 billion in profit, morethan enough to handle the US$131 million divorce payment owed JamieMcCourt, which was made on Monday from Dodgers' sale proceeds,according to the Los Angeles Times. I am an expert from watertreatment-chemicals.com, while we provides the quality product, such as China Dispersing Agent , Reverse Osmosis Chemicals Manufacturer, Boiler Water Treatment Chemicals,and more.
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