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.

Video: Andrew Toles hammers grand slam in Cactus League win

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Dodgers’ left fielder Andrew Toles crushed his first spring training home run on Saturday afternoon. With the bases loaded and a two-run deficit hanging over their heads in the fourth inning, Toles stepped up to the plate against Oakland right-hander Jesse Hahn and unloaded a grand slam on the second pitch he saw.

Third baseman Justin Turner was quick to follow up with a solo jack of his own, bringing the score to a comfortable 7-4 lead by the end of the fourth. Another three-run outburst in the fifth and an eighth-inning RBI single by Austin Barnes raised the final score to 11-6… which, coincidentally, was the same score the Reds used to defeat the Athletics’ second split-squad lineup on Saturday (albeit with a few more RBI walks than grand slams).

Toles, 24, is approaching his sophomore season with the Dodgers in 2017. He slashed .314/.365/.505 with three home runs and an .870 OPS in his first major league season in 2016 and is expected to platoon with the right-handed Franklin Gutierrez in left field this year.

David Price’s season debut could be pushed back to May

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David Price showed “strength improvements” in his elbow on Saturday, but Red Sox’ manager John Farrell still doesn’t think the left-hander will be ready to throw by the start of the season — or for a few weeks afterward. According to ESPN’s Scott Lauber, the 31-year-old might not be ready to debut until May at the earliest.

Price hasn’t thrown off of a mound this spring after experiencing soreness in his left elbow on March 1. Surgery doesn’t appear to be necessary, but the Red Sox are playing it extra safe with their No. 3 starter in hopes that rest and rehabilitation will return him to full health sometime during the 2017 season. For now, Price has been restricted to short games of catch until he’s cleared to resume a more rigorous throwing program. Via MLB.com’s Ian Browne:

[There were] strength improvements to the point of putting the ball back in his hand a little more consistently,” said manager John Farrell. “Today’s the first step for that. A short game of catch. That’s what he’s going through. Not off a mound but just to get the arm moving with a ball in flight, and he will continue in this phase for a period of time. There’s no set distance and volume yet to the throws.

The lefty is coming off of a lackluster 2016 season, during which he delivered a 3.99 ERA, 2.0 BB/9 and 8.9 SO/9 over 230 innings for the Red Sox.