The Associated Press

LOS ANGELES - Frank McCourt, a Boston real estate developer, reached an agreement to purchase the Los Angeles Dodgers from News Corp., both parties said Friday.

McCourt, 49, will head an investment group that reportedly has offered more than $400 million for the team, Dodger Stadium and adjoining real estate, plus training facilities in Vero Beach, Fla., and the Dominican Republic.

"We have the deepest respect for the history and traditions of the Dodgers, and we recognize the strong contributions the team has made to the local community," McCourt said in a statement.

Terms of the deal were not disclosed in a joint statement.

Major League Baseball team owners must approve the sale before it can be finalized.

PHILLIES: Pitcher Vicente Padilla was involved in a car accident in Managua, Nicaragua, in which his driver was killed. The driver, Abrahan Flores, apparently fell asleep at the wheel.

Padilla said X-rays revealed that he suffered only minor injuries in the crash Thursday. The director of Hospital Espana in Chinandega originally said the right-hander broke his collar bone and a finger on his pitching hand.

TWINS: The team exercised its 2004 option on third baseman Corey Koskie, who will make $4.5 million next season. He batted .292 with 76 runs, 29 doubles, 14 homers and 69 RBI in 131 games.