What was merely suggested a week ago now appears all but certain. In response to Major League Baseball’s warning that it was going to seize the Texas Rangers from Tom Hicks and invalidate the debt that held by the creditors to Hicks Sports Group, the creditors have voted to reject the deal, reports Daniel Kaplan of Sports Business Journal.
The result of this is that when baseball makes its move — which should happen following the owners’ meeting scheduled for later this week — the creditors will sue, forcing the Rangers into bankruptcy court and potentially opening the sale up for other bidders. It would be up to a bankruptcy judge to determine whether that comes to pass or, alternatively, if Selig is within his powers to kick the creditors to the curb.
Which seems like a lose-lose for baseball.
If the creditors prevail it quite obviously delays the sale of the team and possibly takes Chuck Greenberg and Nolan Ryan out of the owners’ suite in favor of a higher biddder, should one emerge. This is clearly not what Selig wanted, inasmuch as everyone seems pretty pleased with the Greenberg/Ryan team.
But say baseball wins the battle, is able to shrug the liens off the Rangers, and pays them a pittance to go away, thereby paving the way for the sale. If that happens, isn’t every bank and investment fund who ever considered lending money to a sports team going to freak out? Why on Earth would any of them give money to a sports team if they have good reason to believe that the debtor could simply refuse to pay up and then have the league come in and invalidate the debt in the first place?
Sure, there’s a lot to be said for team owners being forced to operate within their budgets and not rely on so much debt. I’ve said plenty on the subject in the past. But I don’t think most team owners agree with me on that score, and they can’t be all too happy about the prospect of having all sources of credit dry up.
The Miami Herald reports that the future Miami Marlins owners, Bruce Sherman and Derek Jeter, have informed Major League Baseball that they do not intend to retain current team president David Samson. Derek Jeter will replace him as the person in charge of baseball and business operations.
Samson has been a polarizing figure in Miami and has been seen as Jeff Loria’s front-facing presence in many ways. He led the effort for the team to get its new stadium, which led to political scandal and outrage in Miami (not that he didn’t get his stadium). In 2014, he appeared on “Survivor.” He did not survive.
What will survive, however, is the famous home run sculpture in the outfield at Marlins Park. You’ll recall some reports earlier this week that Sherman and Jeter were thinking about removing it. If so, they’ll have a lot of hurdles to jump, because yesterday the Miami-Dade County government reminded them that it was paid for by its Art in Public Places program, it is thus owned by the county and that it cannot be moved without prior approval from the county.
I know a lot of people hate that thing, but it has grown on me over the years. Not for its own aesthetic sake as much for its uniqueness and whimsy, which are two things that are in extraordinarily short supply across the Major League Baseball landscape. Like a lot of new and different bits of art and architecture over the course of history, I suspect its initial loathing will increasingly come to be replaced by respect and even pride. Especially if the Marlins ever make another World Series run, in which case everything associated with the club will be elevated in the eyes of fans.
On this score, Sherman and Jeter will thank Miami-Dade for saving themselves from themselves one day.
Jon Lester had a terrible outing yesterday, allowing nine runs — seven earned — and leaving the game before he could complete two innings.Lester entered the afternoon with a 3.99 ERA. He exited with a 4.37 ERA. Later the Cubs said that Lester was suffering from left lat tightness.
The Cubs are now saying that Lester will miss 1-2 starts. They are sending him to see Dr. Stephen Gryzlo for a more in-depth exam, and it’s possible Gryzlo will determine the injury is more serious, but at the moment the assessment seems cautiously optimistic.
Mike Montgomery will fill in for Lester for the time being.