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Magic Johnson’s group agrees to buy Dodgers for record price of $2 billion

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UPDATE: Here’s the text from the press release, officially announcing word of the agreement between the two sides:

The Los Angeles Dodgers and Frank McCourt today announced an agreement under which Guggenheim Baseball Management LLC (“GBM”) will acquire the Los Angeles Dodgers for $2 billion upon completion of the closing process.  The purchasing group includes Mark R. Walter as its controlling partner, as well as Earvin “Magic” Johnson, Peter Guber, Stan Kasten, Bobby Patton and Todd Boehly.  Mr. McCourt and certain affiliates of the purchasers will also be forming a joint venture, which will acquire the Chavez Ravine property for an additional $150 million.

The Los Angeles Dodgers stated, “This transaction underscores the Debtors’ objective to maximize the value of their estate and to emerge from Chapter 11 under a successful Plan of Reorganization, under which all creditors are paid in full.”

Frank McCourt stated, “This agreement with Guggenheim reflects both the strength and future potential of the Los Angeles Dodgers, and assures that the Dodgers will have new ownership with deep local roots, which bodes well for the Dodgers, its fans and the Los Angeles community.  We are delighted that this group will continue the important work we have started in the community, fulfilling our commitment to building 50 Dream Fields and helping with the effort to cure cancer.”

Earvin “Magic” Johnson stated, “I am thrilled to be part of the historic Dodger franchise and intend to build on the fantastic foundation laid by Frank McCourt as we drive the Dodgers back to the front page of the sports section in our wonderful community of Los Angeles.”

11:08 PM: Whoa. Dennis K. Berman of the Wall Street Journal reports that Johnson’s group have agreed to purchase the Dodgers for $2 billion. One would think this offer would be good enough to include the parking lots, right?

The good news is that Dodgers fans will have the most popular sports figure in Los Angeles as part of the new ownership group, but McCourt is going to walk away from this thing filthy, stinkin’ rich.

11:06 PM: It’s Showtime.

Details are scarce at the moment, but Ken Gurnick of MLB.com reports that the Dodgers have reached an agreement to be sold to the group led by Magic Johnson and longtime MLB and NBA executive Stan Kasten.

MLB owners had approved the groups led by billionaire hedge-fund manager Steve Cohen and St. Louis Rams owner Stan Kroenke, but outgoing owner Frank McCourt has apparently identified Johnson’s group as the winning bidder. No word yet on the exact terms, but most estimates had the sale price to exceed $1.5 billion, which would establish a new record for a North American sports franchise.

Gerrit Cole named Pirates’ Opening Day starter

BRADENTON, FL - FEBRUARY 19: Gerrit Cole #45 of the Pittsburgh Pirates poses for a photograph during MLB spring training photo day on February 19, 2017 at Pirate City in Bradenton, Florida. (Photo by Brian Blanco/Getty Images)
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Right-hander Gerrit Cole is set to take the mound for the Pirates on Opening Day, according to a team announcement on Saturday. It’s a spot that was most recently occupied by former Pirate Francisco Liriano, who made three consecutive Opening Day starts for the club before getting dealt to the Blue Jays last August.

The 26-year-old produced career-worst numbers during his fourth run with the Pirates in 2016, due in large part to bouts of inflammation in his right elbow. He finished the year with a 3.88 ERA, 2.8 BB/9 and 7.6 SO/9 over 116 innings before getting shut down in September to avoid further injury to his elbow. When healthy, however, Cole has been lights-out for the Pirates. Prior to his injury-laden campaign last year, he touted a career 3.07 ERA, 2.2 BB/9, 8.5 SO/9 and cumulative 10.2 fWAR from 2013 through 2015.

Cole will go toe-to-toe with the Red Sox during Boston’s home opener on Monday, April 3. Right-hander Jameson Taillon is scheduled to make the second start of the year, while fellow righty Ivan Nova will cover the Pirates’ home opener against the Braves on April 7. The Pirates’ third and fifth starters have yet to be announced.

Brett Anderson and Mike Montgomery could share Cubs’ rotation spot in 2017

CLEVELAND, OH - NOVEMBER 01:  Mike Montgomery #38 of the Chicago Cubs throws a pitch during the seventh inning against the Cleveland Indians in Game Six of the 2016 World Series at Progressive Field on November 1, 2016 in Cleveland, Ohio.  (Photo by Jamie Squire/Getty Images)
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Cubs’ manager Joe Maddon hasn’t selected a fifth starter for his 2017 rotation yet, but told reporters that he could envision left-handers Brett Anderson and Mike Montgomery sharing the spot throughout the year. Neither pitcher was stretched out to the full 200-inning threshold last year, Maddon added, and suggested that the two could alternate innings out of the rotation and bullpen as needed (via MLB.com’s Carrie Muskat).

Anderson, 29, was acquired by the Cubs in January on a $3.5 million deal. He’s coming off a rough 2016, during which he underwent back surgery and missed all but 11 1/3 innings of his last season with the Dodgers. His last full, healthy year in the majors yielded a 3.69 ERA, 2.3 BB/9 and 5.8 SO/9 over 180 1/3 innings with Los Angeles in 2015.

Montgomery, meanwhile, is vying for a rotation spot after pitching almost exclusively from the bullpen during the second half of the Cubs’ 2016 run. The 27-year-old lefty put up a 2.82 ERA, 4.7 BB/9 and 8.9 SO/9 over 38 1/3 innings for Chicago last year, returning in the postseason to post a 3.14 ERA during the Cubs’ championship finish.

Maddon also mentioned the possibility of throwing a sixth starter into the mix, which would help prevent his other starters from getting overworked too early in the year. Either way, Anderson and Montgomery are expected to get a lot of looks early in spring training as rotation spots are finalized in the weeks leading up to Opening Day.