Rangers' debt holder warns Selig not to seize the team

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Monarch Alternative Capital is the fly in the ointment, the monkey in the wrench, the pain in the assets of the Texas Rangers sale.  They’re the lead debt holder, and the ones who appear to be calling the creditors’ shots in the seemingly interminable brinkmanship that has characterized the team’s sale.

Today Richard Sandomir of the New York Times reports that they’re not taking Bud Selig’s threats to seize the Rangers, cancel the debt and do the deal lightly, sending an email to him in which consequences most dire are predicted, including the team’s bankruptcy or “costly, distracting and messy”
litigation.

Which is really the only response that one can expect given Bud’s threats. There are disagreements about whether Monarch actually has the stones to go through with it all, but if you’re in the business of buying debt and a major debtor is basically saying he’s going to ignore your claims, you pretty much have to litigate if you want to be taken seriously with your other customers, don’t you? It’s like the unwritten rules for banks. If one high-profile debtor is allowed to walk all over you, you’re toast. Ask Tony La Russa. I’m sure he can tell you all about it.

That aside, I think the most interesting thing about it is the last line of Monarch’s letter Sandomir quotes, in which they warn of a negative impact to team values if Selig carries out his threat, “as funding will become more costly and difficult to obtain as lenders
lose faith in the contractual security of their loans.”

This is what I was talking about the other day: the lenders may not have all the leverage in the world in the context of this deal, but if they do end up getting burned, you have to figure that the terms of loans to baseball teams will be much more arduous going forward, and not just from entities like Monarch. Lenders are in the business of valuing risk. If the Rangers are able to simply walk away from current obligations like this, banks will consider baseball teams to be bigger risks going forward. And not just because they’re worried that the team will default, but because they’re worried that the debt they hold will be harder to sell on the open market to secondary holders . . . like Monarch Alternative Captial.

In other words, there are greater stakes at issue here than the simple selling of the Texas Rangers, and I’d be surprised if Selig and his able business associates are not well aware of them privately, even if their public rhetoric is errs on the side of the cavalier.

Hyun-Jin Ryu suffered a setback after latest rehab start

LOS ANGELES, CA - AUGUST 02:  Hyun-Jin Ryu #99 of the Los Angeles Dodgers pitches against the Chicago Cubs during the first inning at Dodger Stadium on August 2, 2014 in Los Angeles, California.  (Photo by Harry How/Getty Images)
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ESPN’s Buster Olney reports that Dodgers pitcher Hyun-Jin Ryu felt sore after his latest rehab start with Triple-A Oklahoma City. The Dodgers will have him back off his planned assignments as a result.

Ryu hasn’t pitched for the Dodgers since September 12, 2014. He had offseason shoulder surgery and then suffered a groin injury in April. The Dodgers were hoping to get him back around mid-June but they’ll likely have to wait longer than that now.

Prior to Wednesday’s Triple-A rehab start, Ryu appeared in two rehab outings with Single-A Rancho Cucamonga. He has decent results in his three appearances, yielding three runs (one earned) on eight hits with no walks and six strikeouts in nine innings.

Xander Bogaerts extends hitting streak to 22 games

BOSTON, MA - MAY 22:  Xander Bogaerts #2 of the Boston Red Sox reacts after he hit a single in the second inning against the Cleveland Indians at Fenway Park on May 22, 2016 in Boston, Massachusetts.  (Photo by Jim Rogash/Getty Images)
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Jackie Bradley, Jr.’s hitting streak may be gone, but Xander Bogaerts‘ is still alive and kicking. The Red Sox shortstop extended his streak to 22 games on Sunday afternoon against the Blue Jays, hitting a ground ball single to left field off of R.A. Dickey in the sixth inning.

Coming into Sunday’s action, Bogaerts’ .351 batting average was the best mark in the American League and bested only by the Nationals’ Daniel Murphy (.390) and Ben Zobrist (.354). Bogaerts’ 71 total hits marked the most in baseball entering Sunday as well.

Report: Padres, White Sox discussing potential James Shields trade

SAN DIEGO, CALIFORNIA - MAY 7:  James Shields #33 of the San Diego Padres pitches during the first inning of a baseball game against the New York Mets at PETCO Park on May 7, 2016 in San Diego, California.  (Photo by Denis Poroy/Getty Images)
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Dennis Lin of the San Diego Union-Tribune reported on Saturday that the Padres and White Sox have been discussing a trade involving starter James Shields. Those talks have “significant momentum,” according to Lin. MLB Network’s Jon Heyman, however, says that nothing is imminent and that the Padres have fielded calls from a lot of teams interested in Shields.

Shields, 34, has a 3.06 ERA and a 56/23 K/BB ratio over 10 starts this season. He’s in the second year of a four-year, $75 million contract, earning $21 million this season as well as in 2017-18 with a $2 million buyout if his 2019 club option for $16 million is declined. Presumably, the Padres would be covering a portion of that remaining contract.

The White Sox got off to a hot start, but have slumped in May. The club entered Sunday on a five-game losing streak and had lost 11 of the previous 14 games. While Chris Sale and Jose Quintana have been outstanding at the top of the starting rotation, the back end of Carlos Rodon, Mat Latos, and Miguel Gonzalez has been underwhelming.

Jake Odorizzi loses no-hitter against the Yankees in the seventh inning

ST. PETERSBURG, FL - MAY 29:  Jake Odorizzi #23 of the Tampa Bay Rays pitches during the first inning of a game against the New York Yankees on May 29, 2016 at Tropicana Field in St. Petersburg, Florida. (Photo by Brian Blanco/Getty Images)
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Update (3:13 PM EDT): The no-hit bid is over. Odorizzi got Jacoby Ellsbury to ground out to lead off the seventh inning, but issued a walk to Brett Gardner before Starlin Castro crushed a two-run home run to left-center field, putting the Yankees up 2-1.

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Rays starter Jake Odorizzi is two-thirds of the way towards a no-hitter against the Yankees on Sunday afternoon. On 81 pitches thus far, the right-hander has struck out five and walked none on 83 pitches. The lone blemish is a fielding error by shortstop Brad Miller.

The Rays have provided Odorizzi with just one run of support, coming on an RBI single by Evan Longoria in the third inning against Yankees starter Nathan Eovaldi.

If Odorizzi can finish the final three innings without a hit, he would record the Rays’ first no-hitter since Matt Garza on July 26, 2010 against the Tigers. For the Yankees, it would be the first time they would be victims of a no-hitter since the Astros’ combined no-hitter on June 11, 2003 which involved Roy Oswalt, Pete Munro, Kirk Saarloos, Brad Lidge, Octavio Dotel, and Billy Wagner.