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.

Brad Ausmus seems to know he’s a dead man walking

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The Tigers have been terrible and the embarked on a rebuild this summer, shipping off Justin Verlander and multiple other players. Miguel Cabrera is hurt and may never be his old MVP-level self. It is, without a doubt, that the Tigers and their fans are about to begin a new chapter in the franchise’s history.

Such new chapters usually involve new managers. Fourth-year manager Brad Ausmus is still at the helm and the Tigers have made no public statement about his future. Ausmus, however, is a lame duck, with his contract ending a week from Sunday. He is also no fool. He seems to know very well that he’s not going to be around next year. From Katie Strang of The Athletic:

Ausmus, of course, has been on the hot seat several times. When Detroit exercised his option for this year, their refusal to extend it sent a pretty clear signal.

If this is the end of the road in Detroit for Baseball’s Most Handsome Manager, it will end with him having missed the playoffs in three of his four seasons at the helm of a star-studded team that was expected to Win Now, as they say. Yes, there were a lot of issues with the Tigers — their bullpen has always been a problem and the brass made a lot of questionable choices in signings and trades over the past few years — but there is no escaping the fact that Ausmus’ Tigers under achieved.

Marco Estrada signs a one-year, $13 million deal for 2018

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Marco Estrada and the Blue Jays have agreed to a one-year, $13 million extension with the Blue Jays, reports Jon Morosi of MLB.com. Last night Morosi reported that the sides were near a deal.

This extension is, functionally, like adding a year on to his old deal, which paid him $26 million for the 2016-17 seasons. As Bill noted last night. while the 34-year-old right-hander has a subpar 4.84 ERA on the season, he has a solid 170/67 K/BB ratio in 176.2 innings this year and has improved in the second half.