Creditors reject Greenberg's latest offer

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Chuck Greenberg keeps telling everyone who will listen that there’s nothing to worry about, the sale of the Rangers will close by April 1, and all will be happy and sunshine. Events on the ground, however, continue to make such a scenario less and less likely. According to Daniel Kaplan of Sports Business Daily:

Hicks Sports Group creditors late last week again turned down terms for the
sale of the Rangers, continuing to throw into question when the ballclub will
be sold, sources said.

To review, under terms of the initial deal, the creditors were to get $230 million in cash. They want $300 million and have at least claimed that they’d throw the team into bankruptcy court in order to get it.  Now, to be fair, the odds of actually collecting that amount in bankruptcy court are rather small, and that’s before you even figure in the legal fees and hassle. But that’s the posture anyway, and each time Greenberg has attempted to get the deal done, they’ve said no dice.

Last week’s back and forth had Greenberg upping the offer to $240 million or $275 million depending on who you believe (the $275 million figure was supposed to contain deferred money).  $30-$60 million ain’t hay, so it’s not like you can expect the creditors to simply say “ah, screw it, let’s just round down” any more than you can expect Greenberg to simply say “ah screw it, I’ll just write you a check to get it done.”

This doesn’t mean Greenberg doesn’t end up with the Rangers at some point. It does, however, yet again, render the rosy “every little thing gonna be alright” jazz he’s been peddling since December increasingly silly.  Deals of this size get derailed over far less than $60 million, and even if they end up going through, a difference in that amount can utterly destroy the timeline.

Upshot: there’s a very real possibility that the Rangers may spend another season, or at least a good chunk of it, in the same kind of financial limbo they were in last year. A year in which they had to beg MLB for loans.

Ohio Governor John Kasich Says Baseball is dying, you guys

COLUMBUS, OH - MAY 4: Republican presidential candidate Ohio Gov. John Kasich speaks to the media announcing he is suspending his campaign May 4, 2016 in Columbus, Ohio. Kasich is the second Republican candidate within a day to drop out of the GOP race. (Photo by J.D. Pooley/Getty Images)
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For reasons that are not entirely clear to me the governor of my state, John Kasich, was on The Dan Patrick Show today. He had some bad news, unfortunately. According to Kasich, “baseball is going to die.”

It’s based mostly on his belief that, because some clubs are rich and some clubs are not so rich, and because players make too much money, poor teams cannot compete and fans cannot find a basis for team loyalty. He cites his boyhood rooting for the Pittsburgh Pirates and the ability for fans to root for players on the same teams year-in, year-out and claims that, if you don’t root for a high-payroll team, “your team is out before the All-Star Break.” Which is demonstrably not true, but he was on a roll so Patrick let him finish.

The real issue, Kasich says, is the lack of revenue sharing in the NFL-NBA mold. He makes a reference to “my buddy Bob Castellini,” the owner of the Cincinnati Reds, and says stuff about how the Reds can’t compete with the Cubs on payroll. His buddy Bob Castellini, by the way, is worth half a billion dollars, purchased the Reds for $270 million, they’re now worth an estimated $905 million, and they just signed a lucrative new TV deal, so thoughts and prayers to his buddy Bob Castellini and the Reds.

Kasich is right that baseball does not have straight revenue sharing like the NFL and NBA do. But he’s also comically uninformed about the differences in financial structure and revenue sources for baseball teams on the one hand and other sports on the other. He talks about how NFL teams in small towns like Green Bay can do just great while the poor sisters in Cincinnati can’t do as well in baseball, but either doesn’t realize or doesn’t acknowledge that local revenue — especially local TV revenue — pales in importance in football compared to baseball. If the Packers had to make all of their money by broadcasting games to the greater Green Bay area their situation would be a lot different. Meanwhile, if the Yankees had to put all of the revenue they receive via broadcasts in the greater New York area and give it to the poorer teams, it would something less than fair, would it not?

Wait, that’s it! I realize now why my governor did not do as well in the Republican primaries as he expected to! HE’S A COMMUNIST!

Billy Williams, Bill Murray and . . . Fall Out Boy!

CHICAGO, IL - APRIL 08:  Former players Ferguson Jenkins (L) and Billy Williams of the Chicago Cubs throw out ceremonial first pitches before the Opening Day game against the Milwaukee Brewers during the Opening Day game at Wrigley Field on April 8, 2013 in Chicago, Illinois.  (Photo by Jonathan Daniel/Getty Images)
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Major League Baseball has announced the on-field ceremonial stuff for tonight’s Game 3 of the World Series. There are a couple of good things here! And one bit of evidence that, at some point when he was still commissioner, Bud Selig sold his mortal soul to a pop punk band and now the league can’t do a thing about it.

The ceremonial first pitch choice is fantastic: it’s Billy Williams, the Hall of Famer and six-time All-Star who starred for the Cubs from 1959 through 1974. Glad to see Williams here. I know he’s beloved in Chicago, but he has always seemed to be one of the more overlooked Hall of Famers of the 1960s-70s. I’m guessing not being in the World Series all that time has a lot to do with that, so it’s all the more appropriate that he’s getting the spotlight tonight. Here’s hoping Fox makes a big deal out of it and replays it after the game starts.

“Take me out to the ballgame” will be sung by the guy who, I assume, holds the title of Cubs First Fan, Bill Murray. It’ll be wacky, I’m sure.

The National Anthem will be sung by Chicago native Patrick Stump. Who, many of you may know, is the lead singer for Fall Out Boy. This continues Major League Baseball’s strangely strong association with Fall Out Boy over the years. They, or some subset of them, seem to perform at every MLB jewel event. They have featured in MLB’s Opening Day musical montages. They played at the All-Star Game this summer. Twice. And, of course, they are the creative minds behind “My Songs Know What You Did in the Dark,” (a/k/a “light ’em MUPMUPMUPMUP“) which Major League Baseball and Fox used as incessant playoff bumper music several years ago. I don’t ask for much in life, but one thing I do want is someone to love me as much as Major League Baseball loves Fall Out Boy. We all do, really.

Wayne Messmer, the former public address announcer for the Cubs and a regular performer of the National Anthem at Wrigley Field will sing “God Bless America.”

Between that and Bill Murray, I think we’ve found out the Cubs strategy for dealing with Andrew Miller: icing him if he tries to straddle the 6th and 7th innings.