On March 27, 2012, embattled owner Frank McCourt agreed to sell the Los Angeles Dodgers franchise to Guggenheim Baseball Management for a record $2 billion. It ended a months-log process as it was in November of 2011 that McCourt signed off on selling the team, Dodger Stadium and the surrounding real estate.
The sale price shattered the $1.47 billion Malcolm Glazer paid for English soccer team, Manchester United, in 2005. While a deal was in place, it required final confirmation in a court hearing on April 13 of that year.
The Guggenheim group was headed by principle owner Mark Walter and included team president and CEO Stan Kasten, and part-owners Todd Boehly, Peter Guber, Magic Johnson and Bobby Patton.