Mark Cuban out of the running for Dodgers; Joe Torre and Magic Johnson among those still in

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UPDATE: The Steve Garvey-Orel Hershiser group was not selected to advance in the bidding process, reports Bill Shaikin of the Los Angeles Times.

As for the actual bid amounts, well, let’s just say that Frank McCourt is going to walk away from this process filthy, stinkin’ rich. Buster Olney of ESPN.com hears that bidding on the Dodgers is now north of $1.2 billion and counting. Meanwhile, CBS Sports’ Jon Heyman reports that McCourt already has one bid in the range of $1.5 billion and speculates that the bidding may jump to $2 billion before this is all over. Either way, the final price tag is expected to blow away the previous record of $845 million when the Ricketts family bought the Cubs from the Tribune Company in 2009.

10:44 PM, Friday: Well, we can cross two big names off the list. Bill Shaikin of the Los Angeles Times has learned that the groups led by Mark Cuban and former agent Dennis Gilbert didn’t make it to the second round of the bidding process. St. Louis Rams owner Stan Kroenke is still in.

Meanwhile, Tony Jackson of ESPNLosAngeles.com hears that Peter O’Malley’s group and the group led by Stanley Gold (who runs the investment firm for the family of the late Roy Disney) have also advanced. O’Malley has reportedly discussed joining forces with Gold’s group.

9:30 PM, Friday: We learned earlier this week that the Dodgers received more than 10 opening bids in advance of Monday’s deadline from those interested in buying the team from Frank McCourt. The opening bids aren’t binding and new bidders could still emerge in the days to come, but we have some early word on who made it through to the next round.

Bill Shaikin of the Los Angeles Times reports that at least eight groups have advanced, including the Magic Johnson/Stan Kasten group, the Joe Torre/Rick Caruso group and the group headed by hedge fund manager Steven Cohen. No word on any others, but it’s safe to say most of the big names are sticking around.

The Dodgers released a statement a little while ago confirming that “the round of preliminary bidding has been completed successfully.” However, they didn’t say who advanced or provide a timeline for the next step.

The embattled McCourt faces an April 30 deadline to sell the team and has agreed to identify the winning bidder by April 1. The sale is expected to fetch an MLB record price tag in excess of $1 billion.

Robert Gsellman diagnosed with partial lat tear

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SNY’s Andy Martino reports that Mets pitcher Robert Gsellman has been diagnosed with a partial lat tear. There is no timetable yet for his recovery, but it would seem likely he doesn’t pitch again this season.

Gsellman, 26, went on the injured list on Saturday (retroactive to August 14) with what was initially called right triceps tightness. Across 63 2/3 innings of relief for the Mets this season, the right-hander posted a 4.66 ERA with 60 strikeouts and 23 walks.

Losing Gsellman is a big deal for the Wild Card-hopeful Mets. While his ERA wasn’t anything incredible, he was a workhorse, accruing the most innings of anyone in the bullpen. With Gsellman out of the mix, the Mets will lean even more on Seth Lugo and Jeurys Familia behind struggling closer Edwin Díaz.