Major League Baseball approval is needed for a significant change in team ownership. This approval is part of the process for completing a transaction. The process is subject to certain conditions and is expected to be finished early next year.

A notable transaction is underway, involving a change in leadership for a team. The current owner's tenure is coming to an end after 23 years.

Further details about this transaction are available from the source, including information about the parties involved and the expected timeline for completion.