The sale of the Milwaukee Brewers to Los Angeles investor Mark Attanasio for $223 million was made official on Thursday after Major League Baseball owners unanimously approved the deal, according to wire reports.

Attanasio, who purchased the team from Baseball Commissioner Bud Selig and his family, will keep it in Milwaukee under the current 30-year lease to play in Miller Park.

Bud Selig bought the team out of bankruptcy when they were the Seattle Pilots and moved them to Milwaukee before the 1970 season.

He relinquished control of the team to his daughter Wendy when he became commissioner.

Attanasio is chief investment officer for U.S. below-investment-grade fixed income at Los Angeles-based Trust Company of the West. He worked at Drexel Burnham Lambert before co-founding investment advisor Crescent Capital Corp., and was a director of Global Crossing Ltd.