Hicks Sports Group Creditors Threatening bankruptcy for the Rangers

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It’s hard to tell if this afternoon’s BusinessWeek report represents something truly new or if it’s more of a rehash of what we already know, but for the record:

The Texas Rangers, the Major League Baseball team
controlled by billionaire Thomas Hicks, may be forced into bankruptcy
unless terms of a planned sale of the team are improved or another buyer
is found, according to two people familiar with the matter.

Creditors led by Monarch Alternative Capital may
block Hicks Sports Group LLC, which defaulted on $525 million of debt
last year, from selling the Rangers and try to put the team into
bankruptcy, said the people, who declined to be identified because the
debt talks are private. The creditor group, which includes CIT Group
Inc. and Galatioto Sports Partners LLC, is seeking at least $30 million
more from the team’s sale, one of the people said.

The dynamic is the same that we’ve seen all along: Hicks’ creditors want more money, they’re threatening to force the team into bankruptcy if they don’t get it. Based on the tone of the article and based on the positions the parties have taken in the past, my guess is that the source for this specific report is one of the creditors, trying to ratchet up the pressure. The whole thing works best if you read it in a “and this time we really, really mean it” tone.

Not that it’s an empty or meaningless threat. No one ever gets rich forcing one’s opponent into bankruptcy, but this may one of those situations where it makes some amount of sense. The biggest problem of bankruptcy is the delay it causes in the asset in question getting liquidated, which often diminishes its value. The nut of this dispute, however, is Hicks’ proceeds from a land sale to Greenberg along with the Rangers. Land for mixed-use development — which is what this land, next to the Ballpark, is — is likely about as down in the dumper as it’s ever going to be right now.  Yes, bankruptcy will cause everyone to incur costs in the short term, but if the whole thing gets tied up for months or longer that same piece of land is still going to have to be disposed of in the end, and there’s every reason to believe that it will be worth more later than it is now.

But however that shakes out — and there are a million ways it could shake out — this report can be viewed as a signpost.  A week ago it was reported that Major League Baseball was stepping in to try and persuade the creditors to get the deal done. At the time Greenberg made noises that it would get done next week. The next thing we hear from the creditors is a renewed bankruptcy threat.

What to make of it? Perhaps they are not all that impressed with Mr. Selig’s efforts to play peacemaker. Perhaps they are not all that impressed with Mr. Greenberg’s public statements of inevitability.  Perhaps no one — not Hicks, not Greenberg, not baseball, not anyone — has enough money to wave at Hicks’ creditors to make them think that they’d get all that worse a deal in bankruptcy court. Hard to say.

The only thing that is certain in all of this is that Greenberg will come out with a statement in the next 48 hours in which he tells us, once again, that the deal is almost done. Because that’s what he always does.

(Thanks to Kevin T. for the heads up)

Video: Odubel Herrera’s glorious bat flip

DETROIT, MI - MAY 25: Odubel Herrera #37 of the Philadelphia Phillies hits a three run home run during the fourth inning of the inter-league game against the Detroit Tigers on May 25, 2016 at Comerica Park in Detroit, Michigan. (Photo by Leon Halip/Getty Images)
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Phillies outfielder Odubel Herrera, playing in his second game since being benched for a lack of hustle, hit a three-run home run to extend his team’s lead to 5-1 in the fourth inning on Wednesday afternoon. After putting a sweet swing on an Anibal Sanchez 2-1 slider, Herrera flipped his bat in grand fashion. It wasn’t quite as emphatic as Jose Bautista‘s from last year’s ALDS, but it was glorious nonetheless.

To the Tigers’ credit, Herrera’s bat flip didn’t result in any shouting or fighting or throwing intentionally at hitters. So that’s nice.

Herrera is now batting .327/.440/.461 with five home runs and 17 RBI on the year. The Phillies selected him in the Rule 5 draft from the Rangers ahead of the 2015 season and he’s proven to be the lifeblood of the offense thus far.

30 years ago, Dave Kingman sent a live rat to a female reporter

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Someone on Reddit’s /r/baseball page linked to this New York Times article from June 1986.

Dave Kingman, then with the Athletics, was 37 years old and playing in what would be his final season. He was fined $3,500, which is a little over $7,600 in 2016 dollars, for sending a live rat in a pink box to a female reporter, Susan Fornoff of The Sacramento Bee. The rat wore a tag that said “my name is Sue.”

Kingman refused to apologize, saying, “I’ve pulled practical jokes on other people and I didn’t apologize to them.”

According to Fornoff, Kingman had said to her that women don’t belong in the clubhouse, and Kingman had been harassing her since she began covering the team in ’85. The Athletics didn’t keep Kingman around after the season, and he ended up hanging up the spikes.

Pete Dexter wrote in more detail about the incident at Deadspin a few years ago. It’s a good read.

I wasn’t familiar with this story as I was still more than two years from being born when it happened. Sports media has made strides towards being more inclusive of non-white cisgender straight men, especially compared to 30 years ago. But, of course, we’re still a long ways away from an ideal world in which everyone is treated equally and everyone has equal access. Some of the best baseball reporting and analysis these days is being done by women and it’s nice to see sites, especially FanGraphs recently, make a concerted effort towards diversification.

D-Backs mulling optioning Shelby Miller to the minors

PITTSBURGH, PA - MAY 24:  Shelby Miller #26 of the Arizona Diamondbacks pitches in the first inning during the game against the Pittsburgh Pirates at PNC Park on May 24, 2016 in Pittsburgh, Pennsylvania.  (Photo by Justin K. Aller/Getty Images)
Justin K. Aller/Getty Images
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Diamondbacks starter Shelby Miller continued to struggle on Tuesday, serving up six runs on eight hits and four walks with three strikeouts over five innings against the Pirates. His ERA, in 10 starts this season, stands at an unsightly 7.09 with 30 strikeouts and 29 walks in 45 2/3 innings.

The D-Backs acquired him from the Braves over the winter, sending 2015 first overall pick Dansby Swanson to Atlanta along with pitching prospect Aaron Blair and outfielder Ender Inciarte. It’s a trade they’d most likely take back if they had the luxury.

Instead, GM Dave Stewart is considering optioning the right-hander to Triple-A Reno to figure things out, Jack Magruder reports for Today’s Knuckleball. Stewart said, “We want to get him on track the best way we can. We will figure it out and do what’s needed.”

Miller is currently slated to start against the Padres on Sunday, so the club has a few more days to consider what to do. Josh Collmenter will likely be activated over the weekend, which would create a convenient way to put him back on the roster and deal with Miller.

Jackie Bradley, Jr. and Xander Bogaerts both extend their hitting streaks

BOSTON, MA - MAY 24:  Jackie Bradley Jr. #25 of the Boston Red Sox returns to the dugout after scoring in the second inning during the game against the Colorado Rockies at Fenway Park on May 24, 2016 in Boston, Massachusetts. Extending his hitting streak to 28 games.  (Photo by Adam Glanzman/Getty Images)
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Red Sox outfielder Jackie Bradley, Jr. and shortstop Xander Bogaerts both extended their hitting streaks on Wednesday night against the Rockies, and both did it in the bottom of the fourth inning.

Bogaerts led off the inning with a solo home run to left-center off of Chad Bettis. After David Ortiz walked and Hanley Ramirez grounded into a fielder’s choice, Bradley laced a single to left field. Bogaerts’ streak now stands at 18 games and Bradley’s is at 29. Bradley is tied with Johnny Damon for the fourth-longest streak in Red Sox history. He trails Tris Speaker and Nomar Garciaparra at 30 and Dom DiMaggio at 34.

The Red Sox entered Wednesday’s action averaging 5.87 runs per game, the best mark in baseball. The major league average is 4.28. Bogaerts and Bradley, unsurprisingly, have been a big part of the offense’s success thus far.