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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.

Chapman has trouble remembering convo with Cubs management about off-field behavior

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CHICAGO — Star closer Aroldis Chapman joined the Cubs on Tuesday, arriving to a mixed reaction in Chicago and saying he couldn’t remember what management told him about off-field expectations and behavior.

After Chapman’s awkward introductory news conference, Cubs president of baseball operations Theo Epstein insisted Chapman understands what the Cubs expect of him after an offseason domestic violence incident.

When the Cubs announced the trade with the New York Yankees on Monday, the team released a statement from Chairman Tom Ricketts saying they were aware of his 29-game suspension to begin the season under Major League Baseball’s new domestic violence policy.

Ricketts said he and Epstein talked by phone with Chapman before the deal was completed and “shared with him the high expectations we set for our players,” adding that Chapman was “comfortable” with them.

But when asked repeatedly about that phone conversation before Tuesday’s game against the crosstown White Sox, Chapman said through an interpreter that he couldn’t recall details because he was taking a nap at the time the call came in.

The question was asked several more times. A Cubs spokesman once asked the question himself to the interpreter, coach Henry Blanco.

“It’s been a long day,” Chapman said. “Trying to remember.”

Asked again several minutes later during the group interview if he could now remember what Ricketts said, Chapman shook his head.

“I still don’t remember,” he said in Spanish.

Epstein called it a misunderstanding and that Chapman was “pretty nervous” as he faced seven cameras and more than two dozen reporters.

“I was on the call, Tom was on the call, Aroldis was on the call and Barry Praver, his agent, was on the call. It happened and it was real,” Epstein said before the Cubs’ 3-0 loss to the White Sox.

Chapman was accused of choking his girlfriend and firing eight gunshots in the garage of a Florida home in October. The woman later changed her story and no charges were filed.

“You learn from the mistakes that you make,” Chapman said.

The case caused the Los Angeles Dodgers to back out of an offseason trade for Chapman. Cincinnati eventually traded him to the Yankees, and after his suspension, the 28-year-old Cuban converted 20 of 21 save chances for New York.

The Cubs have long boasted of stocking their roster with high-character players, helping earn the “lovable losers” label they’ve carried for decades since their last World Series title in 1908.

But the Cubs (59-40) have retooled their roster under Epstein and have the best record in the major leagues despite Tuesday’s loss in which Chapman didn’t pitch. Chapman, who threw a 105 mph fastball last week, fills perhaps the team’s largest hole as he replaces Hector Rondon as closer.

The Cubs sent four players to the Yankees, including shortstop prospect Gleyber Torres, to get one of the game’s top relievers. Epstein said they wouldn’t have made the deal if not for the phone call he and Ricketts had with Chapman.

“Tom laid out the exact same standards that he lays out to everyone in spring training,” Epstein said. “He said, extremely clearly, `Look, Aroldis, I tell all the players this in spring training and it’s important you hear it and I need to hear from you on this. We expect our players to behave. We hold our players to a very high standard for their behavior off the field. And we need to know you can meet that standard.’

“Aroldis said `I understand. Absolutely, I can.'”

The Cubs activated Chapman before Tuesday’s game and designated left-hander Clayton Richard for assignment.

Reaction to Chapman’s acquisition in Chicago has been tepid. While there were supportive fans on talk radio, the Chicago Tribune carried a front-page column Tuesday criticizing the move. The back of the Chicago Sun-Times tabloid read “Spin City” over a picture of Epstein.

Chapman said he expected a “good reaction” from Cubs fans. He was also asked during the 20-minute meeting with reporters in the visiting dugout at U.S. Cellular Field if we would consider working with organizations looking to prevent domestic violence. Chapman said no.

Cubs manager Joe Maddon defended Chapman.

“He did do a suspension, he has talked about it, he’s shown remorse,” Maddon said. “Everybody else has the right to judge him as a good or bad person. That’s your right.

I want to get to know Aroldis. I think he could be a very significant member and he’s got the potential, yes, to throw the last out of the World Series. And if he does, I promise you I will embrace him.”

Report: Padres working on trading Andrew Cashner

ST. LOUIS, MO - JULY 21: Starter Derek Norris #3 of the San Diego Padres pitches against the St. Louis Cardinals in the first inning at Busch Stadium on July 21, 2016 in St. Louis, Missouri.  (Photo by Dilip Vishwanat/Getty Images)
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Jon Morosi of FOX Sports and MLB Network reports that the Padres are working to trade starter Andrew Cashner. He notes that a deal may be consummated before he takes the hill for Tuesday’s start in Toronto against the Blue Jays. The Marlins, Orioles, and Rangers have had reported interest in Cashner.

Cashner is 4-7 with a 4.79 ERA and a 61/27 K/BB ratio in 73 1/3 innings. He missed over three weeks between June 11 and July 2 due to a strained neck.

The right-hander is earning $9.625 million this season and will be eligible for free agency after the season.