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.

Martin Maldonado and Willson Contreras say they’re willing to pay fines rather than follow new mound visit rule

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On Monday, Major League Baseball announced some changes aimed at improving the game’s pace of play, something that has been a pet cause for commissioner Rob Manfred. Among the changes was a limit on mound visits whether from managers and coaches, the catcher, or other defenders. Each team will have six non-pitching change mound visits per game and one additional visit each inning in extra innings. Craig wrote more in depth on the changes here if you happened to miss it.

Angels catcher Martin Maldonado says he is going to do what’s necessary to stay on the same page with his pitchers. Via Jeff Fletcher of the Orange County Register, Maldonado said, “If the game is on the line, I’m going to go out there. If we’re at six [visits], and it’s going to be the seventh, I’m going to go out there, even if I have to pay a fine. I’m there for the pitchers.”

Cubs catcher Willson Contreras said as much on Tuesday. Per Josh Frydman of WGN News, Contreras said, “What about if you have a tight game and you have to go out there? They can’t say anything about that, that’s my team and we just care about wins. If they’re going to fine me about number seven mound visit, I’ll pay the price.”

Exhibition games haven’t even started yet, but two notable backstops — the lesser-known Maldonado won a Gold Glove last year — are clearly not happy with the rule change. As Craig alluded to in his article yesterday, arguments between catchers and umpires (and, subsequently, managers and umpires) are probably going to become more frequent, which would likely end up nullifying any pace of play improvements.