Evan Grant reports that if the Rangers sale isn’t done by June, the team will have to take more money from Major League Baseball to make ends meet.
Last year baseball extended the team a $25 million line of credit. They used $16 million of it in 2009 to meet payroll obligations. Grant reports that both payroll and revenue are basically flat compared to last year, which suggests that baseball will have to go beyond that original $25 million. As Grant notes, since baseball is a creditor which expects its money back, the more money it gives to the team the less there is available for the troublesome, sale-blocking creditors, which makes closing the deal even harder. See, cycle, vicious.
What’s worse is that if we get to June and the team is still on the dole, they will be unable to pay real bonuses to their draft picks and, instead, will be required to pay MLB-imposed slot prices, which could seriously hinder the Rangers’ ability to, you know, get good players.
There have been a lot of self-imposed deadlines in this transaction, none of which have done much to spur real action by the parties. The end of May, however, brings with it serious consequences if the deal is not yet done. It would seem, then, that everyone had best get busy.
ST. PETERSBURG, Fla. (AP) Baseball Commissioner Rob Manfred wants Tampa Bay to work a little quicker on getting the Rays a new ballpark.
Rays Principal Owner Stuart Sternberg has been working for nearly a decade to get a new stadium for the club and signed a three-year agreement with the City of St. Petersburg early in 2016 to search for a site in the Tampa Bay area. Manfred wants that search to pick up some steam.
“I think it’s fair to say we want the process to take on a better pace moving forward,” Manfred said Wednesday night at Tropicana Field, home of the Rays since their first season in 1998.
The Rays were averaging 15,815 fans per game before Wednesday night’s contest against the Toronto Blue Jays. That is just over half the major league average of 30,470. Tropicana Field and its location have been almost universally blamed as the reason for the poor attendance.
“I’ve been pretty clear that they need a new facility here, a major league quality facility in an A-plus location,” Manfred said. “It is time to move that decision to the front burner here in Tampa.”
The matter of how a stadium would be financed has been tabled until a site is determined, but Sternberg continued to express confidence in the Tampa Bay market.
“I’ve had the opportunity to bail on it many times over the years,” he said. “I won’t say this is a slam dunk, it’s certainly not. But I think we can do something that’ll at least double our attendance. That’s a lot to ask for.”
Manfred said Major League Baseball “doesn’t have a firm timetable” for what steps to take if the Rays fail to get an agreement to build a new stadium in the Tampa Bay area, but but added that “it is a topic of discussion in the industry, the lack of progress.”
More AP baseball: https://apnews.com/tag/MLBbaseball
Bad news for the Mariners this evening: Robinson Cano left Seattle’s game against the Atlanta Braves with tightness in his left hamstring.
Cano walked off the field after legging out a double — his second of the game — in the third inning. He pulled up as he approached second base and walked off the field, accompanied by a trainer. There was no immediate word on the severity of the injury. The Mariners have a day off Thursday before opening a series at the Yankees on Friday night, so they have some time to evaluate him.
Cano is hitting .277/.377/.460 with 19 homers and 78 RBI on the year.