A grade 2 sprain indicates partial tearing of the ligament, and he is likely to be out weeks rather than days. Velez said he has never had an ankle sprain.
"It's as good as it can be," said manager Don Mattingly. "It looked bad. I thought he may have broken that thing."
Velez turned the ankle badly when he stepped on the side of the first-base bag trying to veer away from a collision with former Dodger Blake DeWitt while running full speed at the end of a bunt play in the seventh inning.
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X-rays revealed no broken bones, and Velez left the clubhouse on crutches.
Velez had to be carted off the field after the play, in which he was credited with a bunt single when Cubs first baseman Carlos Pena attempted to grab the bunt and toss it back to DeWitt covering.
Pena actually dropped the ball before he could throw, but Velez didn't realize it and was trying to beat the throw. He said he saw DeWitt on the bag and aimed for the right side, but slid off the edge of the bag.
"If I knew he dropped the ball, this wouldn't have happened," Velez said. "I'm glad it isn't broken. I thought it was, thank God it wasn't."
Velez was trying to make a long-shot run at a utility job.