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.

Cubs place Brandon Morrow on disabled list with biceps inflammation

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ESPN’s Jesse Rogers reports that the Cubs have placed closer Brandon Morrow on the 10-day disabled with inflammation in his right biceps. Manager Joe Maddon said he doesn’t anticipate Morrow being on the DL for much more than the minimum 10 days. He said, “Velocity was down last outing. I asked him about it after the game and could tell he was holding something back. Said it was just that time of year.”

Morrow, 33, has had an excellent season for the Cubs, saving 22 games with a 1.47 ERA and a 31/9 K/BB ratio in 30 2/3 innings. The right-hander is under contract next year at $9 million and has a 2020 vesting option worth $12 million with a $3 million buyout.

Steve Cishek and Pedro Strop will likely handle save situations while Morrow is out.