MELKY TO MINORS, SEXSON WAIVED  —  YANKEES PROMOTE GARDNER, RANSOM  —  In a move designed to boost the Yankees' sagging offense, the team today will demote Melky Cabrera to the minors, waive Richie Sexson, and promote Brett Gardner and Cody Ransom from Triple-A, The Post has learned.

First-Round Pick Gerrit Cole Opts for College Over Yankees  —  When the Yankees drafted pitcher Gerrit Cole in the first round of the June draft, they believed that Cole would sign with them and forego a college scholarship.  It turns out that Cole has changed his mind and will go to U.C.L.A. instead.

Radio Alert: It's Now Mike Minus Mad Dog  —  Martin and Lewis broke up, and so did the Beatles.  —  And on Thursday, WFAN's “Mike and the Mad Dog” became just Mike, when Chris Russo left the station abruptly, ending a nearly 19-year partnership with Mike Francesa that had made them perhaps the most formidable duo in sports-talk radio.

O's reach agreement with Matusz  —  First-round pick gets major league deal, $3.2M bonus  —  The Orioles and first-round pick Brian Matusz have agreed to terms on a major league deal that would immediately insert him onto the club's 40-man roster and toward the top of the organization's list of pitching prospects, The Sun has learned.

Manny gets a haircut, then goes hitless  —  Manny trimmed his hair a bit before last night's game.  (FSN screen image courtesy of Al Belcuore)  —  Our long national nightmare is over.  Manny Ramirez got a haircut before last night's Dodgers-Phillies game in LA. Sort of.

The Deadline Arrives to Sign Crow  —  One day before the Washington Nationals selected Aaron Crow ninth overall in the June draft, one of Crow's advisers, Alan Hendricks, spoke with General Manager Jim Bowden.  In that conversation, Hendricks explained to Bowden what it would take to sign Crow.

Sorting through this waiver madness  —  After 3 1/2 years of covering the Twins with La Velle, I felt like I had stepped into “The Twilight Zone” on Thursday.  —  It started at about 9:45 a.m., when Buster Olney was on ESPN's “First Take” talking about the waiver claims that had been submitted …

Baseball's Draft System Is Badly Broken  —  When the clock strikes midnight Friday, the signing deadline for baseball's amateur draft will pass.  By then, most if not all of the 10 first-round picks who have yet to sign as of this writing will presumably have done so.

Varitek mum on divorce  —  Jason Varitek had nothing to say today, at least to us, about his divorce.  And there are few details in the documents filed in Gwinnett County, Ga. Seems the Sox catcher and his wife, Karen, split June 7 and are living separately.

Newfound consistency makes Perez a key Met  —  If you were to rank the top reasons why these Mets have gone from doomed to (maybe) destined in the last two months, where would you place the surge of Oliver Perez?  —  Easily among the top five, right?  How about the top four …

Keeping same lineup will get expensive for Halos  —  The Angels are rolling now, and they'd better enjoy it.  Ken Rosenthal says it may be too expensive to keep this roster next year.

Creating a dynamic FIP with BaseRuns  —  If you're interested in starting a fistfight at the next SABR convention (not that I'm advising this) simply start bringing up DIPS in casual conversation loudly enough and I'm sure you can get something going.  Voros McCracken set up the sabermetric version of the …

Jon Heyman: Who will win big in free agency this winter? … Reds right-hander Bronson Arroyo, who apparently doesn't mind giving away Adam Dunn's innermost financial goals and is himself way overpaid, recently told the Cincinnati media that Dunn will seek $100-120 million as a free agent.