The 19-year-old Chickasaw Bricktown Ballpark is home to the Oklahoma City RedHawks.

Making formal a poorly kept secret, the Dodgers announced an agreement today with Mandalay Baseball Properties, LLC to purchase the Triple-A Oklahoma City RedHawks, which will become the team’s new Triple-A affiliate.

The Dodgers had been affiliated with the Albuquerque Isotopes since 2009.

Dodgers co-owner Peter Guber will be the Executive Chairman and Managing Director of the RedHawks. Partners Paul Schaeffer and Larry Freedman (who are not directly involved with the Dodgers) will manage the operations of the company.

According to multiple reports, the ownership structure is a 50/50 arrangement in which Guber owns half of the RedHawks, and the other Dodgers owners control the other half.

The purchase agreement is subject to customary closing conditions, including the approvals of the Pacific Coast League and Minor League Baseball and the review of the Office of the Commissioner of Major League Baseball.

“We enjoyed a great relationship with the Albuquerque organization and its fans,” Dodgers president Stan Kasten said, “but the opportunity of franchise ownership was one we couldn’t pass up.”

Besides the business opportunity, the Dodgers have an opportunity to level the playing field for hitters and pitchers at a more neutral-playing ballpark. Albuquerque, at an elevation of 5,200 feet, is far more friendly to hitters than Dodger Stadium, even after using a humidor to treat baseballs beginning in 2013.

“I know when guys come into Albuquerque, hitters want to hit there; pitchers don’t want to pitch there,” said Dodgers’ third base coach Lorenzo Bundy, who managed in Albuquerque from 2011-13. “There’s that mental challenge right then and there for the pitcher. For the hitter, all of a sudden the confidence is there. ‘We’re in Albuquerque for four, all of a sudden it’s a chance to jump my average 8 to 10 points.’ “

For what it’s worth, I’m told the RedHawks name refers to a bird, not a Native American tribe.