Frank McCourt agrees to sell Dodgers

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UPDATE:   Major League Baseball and the Dodgers have released a joint statement confirming the earlier Los Angeles Times report:

“The Los Angeles Dodgers and Major League Baseball announced that they have agreed today to a court supervised process to sell the team and its attendant media rights in a manner designed to realize maximum value for the Dodgers and their owner, Frank McCourt.  The Blackstone Group LP will manage the sale process.”

12:48 AM: Rejoice, Dodgers fans.

According to Bill Shaikin of the Los Angeles Times, Frank McCourt has agreed to sell the Dodgers. The team will be auctioned off in bankruptcy court.

No firm details yet, but Shaikin reported late last night that McCourt was nearing an agreement with MLB on a bankruptcy settlement to sell the team. The deal is expected to include Dodger Stadium and the surrounding parking lots. It’s estimated that a sale would command a record asking price of $1 billion or more.

We’ll undoubtedly have a lot more on this situation in the morning, so stay tuned.

Reds, Raisel Iglesias agree to three-year contract

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The Reds announced on Wednesday that the club and pitcher Raisel Iglesias agreed to a three-year contract. Iglesias had been on a seven-year, $27 million contract signed in June 2014 and had two years with $10 million remaining. According to MLB.com’s Mark Feinsand, the new contract is worth $24.125 million, so it’s a hefty pay raise for Iglesias.

Iglesias, who turns 29 years old in January, has gotten better every season pitching out of the Reds’ bullpen. In 2018, he posted a 2.38 ERA with 30 saves and an 80/25 K/BB ratio in 72 innings. Over his four-year career, the right-hander has 64 saves with a 2.97 ERA and a 359/106 K/BB ratio in 321 2/3 innings.

Iglesias gets little fanfare pitching for the Reds, fifth-place finishers in each of his four years, but he is certainly among baseball’s better relievers. Signing him to a new three-year deal gives them some certainty at the back of the bullpen in the near future.

There was a bit of confusion regarding his previous contract, which allowed him to opt out and file for arbitration if eligible. Iglesias has three years and 154 days of service time, so his new contract essentially covers his arbitration-eligible years.