The Rangers sale is a "trainwreck"

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That’s the viewpoint of someone associated with the group of creditors meeting with prospective Rangers’ owners Chuck Greenberg and Nolan Ryan in New York tomorrow in an attempt to iron out their differences regarding the team’s sale. It’s an ominous sign with respect to something that everyone is assuming is a done deal.

As you’ll recall, the creditors are led by a hedge fund called Monarch Alternative Capital, which bought up a bunch of Hicks Sports’ Group’s debt when it nearly defaulted on its obligations last summer.  The creditors have to sign off on the tentative agreement between Hicks and Greenberg/Ryan, and from the sound of it, they don’t have a huge incentive to do so.  According to the article:

The key issues, the sources said, are that while the sale has an
announced price of $570M, there is only $390M of cash changing hands,
with the difference assumed liabilities. And of that the banks would
only get $250M, sources said. Before they get paid, according to the
deal, Hicks would be paid for the real estate around the ballpark, MLB
must be paid for loans it forwarded the team, and Rangers investment
bankers, Merrill Lynch and Raine get paid too.

That’s right: Tom Hicks has helped broker a deal in which he personally gets paid before the people from whom his spendthrift ownership group had to borrow in order to make ends meet last year. And of course, Hicks himself is part of the new ownership group too. The result: an angry group of creditors is worried that they’re going to only get pennies on the dollar — “We will be better off in bankruptcy court,” a source says — and may very well tell Greenberg, Ryan and Hicks to go back to the drawing board. If that happens, you have to figure that Jim Crane and Dennis Gilbert, who were reported to have better bids than Greenberg — would come back into play.

In December I reported that there were people around Major League Baseball who were worried about this deal coming together.  Those worries were brushed off at the time.  Based on what we’re hearing today, I have this feeling that they’re back.

2017 Preview: The American League Central

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For the past few weeks we’ve been previewing the 2017 season. Here, in handy one-stop-shopping form, is our package of previews from the American League Central

Do the Indians have a weakness? Do the Tigers and Royals have one more playoff push in them or do they have to start contemplating rebuilds? The White Sox and Twins are rebuilding, but do either of them have a chance to be remotely competitive?

As we sit here in March, the answers are “not really,” “possibly,” and “not a chance.” There are no games that count this March, however, so they’re just guesses. But educated ones! Here are the links to our guesses and our education for all of the clubs of the AL Central:

Cleveland Indians
Detroit Tigers
Kansas City Royals
Chicago White Sox
Minnesota Twins

2017 Preview: The National League East

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For the past few weeks we’ve been previewing the 2017 season. Here, in handy one-stop-shopping form, is our package of previews from the National League East

The Washington Nationals crave a playoff run that doesn’t end at the division series. The Mets crave a season in which they don’t have a press conference about an injured pitcher. The Marlins are trying to put the nightmare of the end of the 2016 behind them. The Phillies and Braves are hoping to move on from the “lose tons of games” phase of their rebuilds and move on to the “hey, these kids can play!” phase.

There is a ton of star power in the NL East — Harper, Scherzer, Cespedes, Syndergaard, Stanton, Freeman — some great young talent on ever roster and, in Ichiro and Bartolo, the two oldest players in the game. Maybe the division can’t lay claim to the best team in baseball, but there will certainly be some interesting baseball in the division.

Here’s how each team breaks down:

Washington Nationals
New York Mets
Miami Marlins
Philadelphia Phillies
Atlanta Braves