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.

Fox, MLB sign broadcast rights extension through 2028

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FOX Sports and Major League Baseball announced a few minutes ago that they have agreed to a multi-year broadcast rights extension. The deal keeps Fox as the lead MLB rights holder, and home of the World Series, All-Star Game and a good chunk of the playoffs through at least 2028.

While the press release does not announce the financial terms, Bob Nightengale of USA Today is reporting that it will pay Major League Baseball about 30-40% more than the previous contract. While ratings are not what they used to be, it would seem that the eyeballs Fox is getting are more valuable to it.

UPDATE: That bump is actually even bigger:

For the time being, things will look very much like they do now. Starting in 2022, there will be more games broadcast. There are no specifics about how many more. The release says “FOX Sports will also expand its digital rights,” but again, no specifics on what that means, exactly.

FOX Sports has been a baseball rights-holder since 1996 and has been the exclusive national non-cable rights holder since 2001. That’s gonna continue for at least another decade.