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


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.

Marlins have begun extension talks with Dee Gordon

Dee Gordon
AP Photo/Alex Brandon
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Barry Jackson of the Miami Herald wrote three weeks ago that the Marlins were probably going to explore an extension this winter with second baseman Dee Gordon. And it sounds like those talks are underway.

Via beat writer Joe Frisaro of MLB.com:

As a guest on MLB Network’s “Hot Stove” show Wednesday morning, Gordon confirmed his camp has been in talks with the Marlins regarding a multiyear deal. A source told MLB.com that the discussions are preliminary and have just recently started.

“My agent is doing the talking,” Gordon said on the show. “They’re just keeping me in the loop. I think it’s going pretty well right now. We’ll see how that goes. I’m just playing the waiting game. We’re going to do the right thing.”

The 27-year-old carries three more seasons of salary arbitration, so there’s no real rush to get something done before next spring. Gordon carries quite a bit of leverage after posting a career-best .333/.359/.418 slash line in 145 games this past season for the Fish. He led all major leaguers in hits (205) and stolen bases (58).

Braves sign Bud Norris to one-year contract

Bud Norris

Bud Norris has found a home for his attempt at a bounceback season, signing a one-year deal with the Braves. Jon Heyman of CBSSports.com says it’s worth $2.5 million, which is a huge cut from his $8.8 million salary this year.

Norris had established himself as a solid mid-rotation starter from 2009-2014, but had a brutal 2015 season split between the Orioles and Padres with a 6.72 ERA in 83 innings and a late-season move to the bullpen.

In announcing the signing the Braves referred to Norris as a starting pitcher, so joining the rotation for a rebuilding team gives him a chance to get his career back on track with an eye on hitting the open market as a free agent again next offseason. And if he fares well, the Braves could use him to add a prospect or two at the trade deadline.

The Cubs acquire Rex Brothers from the Rockies

Rex Brothers Rockies

The number of people who, if you held a gun to their head, would say that “Rex Brothers” was a game show host and/or local TV news personality from the late 1970s or early 80s is not insignificant. But if you’re a Rockies fan or if spend all day thinking about baseball you know that he’s a reliever who has played in Colorado for the past five years. Now you know him as a reliever for the Cubs:

Brothers — a former Best Shape of His Life All-Star — was pretty good until he hit a brick wall in 2014 and spent most of 2015 in Triple-A. He had something of a bounceback after being called up when rosters expanded in September, but that’s not the sort of thing to excite anyone. He could be useful for the Cubs or just spring training cannon fodder and organizational depth.

Cabrera just turned 18 a couple of weeks ago and pitched a grand total of 14 games in the Dominican Summer League. He’s young and was a $250,000 signee from the Dominican as a 16-year-old so, by definition, he’s a project. Worth giving up Rex Brothers for him if you’re the Rockies, worth risking for some depth in the pen if you’re the Cubs.

Diamondbacks hire Dave Magadan as hitting coach

Dave Magadan Rangers
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Steve Gilbert of MLB.com reports that the Diamondbacks’ new hitting coach is Dave Magadan, who “parted ways” with the Rangers last month after three years filling the same role in Texas.

Magadan also previously was the Red Sox’s hitting coach and his teams have generally done pretty well, including the Rangers scoring the third-most runs in the league this year.

He’ll have plenty of talent to work with in Arizona, as the Diamondbacks scored the second-most runs in the league led by Paul Goldschmidt, A.J. Pollock, and David Peralta. Turner Ward, who had been Arizona’s hitting coach, chose to leave the team two weeks ago.