Sure, Greenberg and Ryan have made a deal with Hicks, but they’re not the only ones that matter. According to Sports Business Journal, a hedge fund called Monarch Alternative Capital — which came in late in the game and bought up a bunch of Hicks Sports’ Group’s debt when they nearly defaulted on their obligations last summer — has yet to sign off. And they may not, because they think that Hicks passed up a better offer: from Houston businessman Jim Crane.
SBJ is saying that Monarch is “unlikely” to scuttle the deal, but that it has a reputation for “going to the mat” for the last dollar. They’re also none too pleased with the fact that Hicks is still going to end up owning part of the team post-sale, making
him a buyer and a seller.
Because Monarch is essentially a debt vulture, it may not get much sympathy from the banks and everyone who matters here on the pure dollars of it all. But I continue to think that they have an excellent point regarding Hicks being on both sides of the deal. That has stunk to me from the get-go, and I have no idea why, if there were better offers than Greenberg’s, his partners in Hicks’ Sports Group and others haven’t raised a stink about it.
Jon Heyman of FanRag Sports reports that the Phillies signed pitcher Henderson Alvarez to a minor league deal. If he is added to the major league roster, he’ll earn $750,000 prorated.
Alvarez is still only 27 years old but hasn’t pitched in the majors since 2015 due to shoulder issues. He signed with the Long Island Ducks last month, making seven starts and posting a 3.94 ERA with a 13/14 K/BB ratio in 32 innings.
The Phillies learned that Vince Velasquez will undergo season-ending surgery and also placed Zach Eflin on the 10-day disabled list, so the club is just looking for pitching depth to help take them through the end of the season. Any innings that Alvarez is able to handle will be considered a bonus.
Mets third baseman David Wright will begin a minor league rehab assignment Tuesday with High-A St. Lucie. He’ll be the DH.
Wright has been sidelined since May of 2016, first with a cervical disc herniation and, more recently, a shoulder impingement. He has appeared in just 75 games since his last full season in 2014. Wright is under contract through 2020 and is owed $47 million after this year. For now insurance is picking up a large portion of that.
It’s possible he’ll make a return to the Mets before the season out as the competitive portion of their year is basically over and giving him a chance to see big league pitching before he begins what one hopes is a normal offseason might be a good confidence boost. What meaningful role he ever plays in the big leagues again, however, is decidedly up in the air.