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.

The Rockies are promoting outfield prospect David Dahl

SAN DIEGO, CA - JULY 10:  David Dahl of the U.S. Team looks on prior to the SiriusXM All-Star Futures Game at PETCO Park on July 10, 2016 in San Diego, California.  (Photo by Harry How/Getty Images)
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In a wave of prospect advancement news on Sunday, the Rockies have joined the fray. The Astros are calling up Alex Bregman. The Diamondbacks are calling up Braden Shipley. And the Rockies will call up outfield prospect David Dahl on Monday, Nick Groke of The Denver Post reports. The Rockies are expected to designate outfielder Brandon Barnes for assignment to create roster space.

Dahl, 22, was selected by the Rockies in the first round — 10th overall — in the 2012 draft. He started the season at Double-A, batting .278/.367/.500 with 13 home runs, 45 RBI, 53 runs scored, and 16 stolen bases in 322 plate appearances. He earned a promotion to Triple-A Albuquerque earlier this month. In 16 games there, Dahl has hit an outstanding .484/.529/.887 with five homers, 16 RBI, and 17 runs scored in 68 plate appearances.

Dahl is considered the Rockies’ second-best prospect and #40 overall in baseball according to MLB Pipeline. He got some camera time during the 2016 Futures Game two weeks ago, going 0-for-2.

David Robertson and adventures with the win statistic

CHICAGO, IL - JUNE 26:  David Robertson #30 of the Chicago White Sox pitches in the 9th inning for a save against the Toronto Blue Jays at U.S. Cellular Field on June 26, 2016 in Chicago, Illinois. The White Sox defeated the Blue Jays 5-2.  (Photo by Jonathan Daniel/Getty Images)
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David Robertson got the win in both White Sox victories today, a double-header versus the Tigers. In the first game, he got the final out of the eighth inning and pitched a scoreless ninth before the White Sox walked off on an Adam Eaton RBI single.

It was the second game that made things interesting. Robertson took the mound at the start of the ninth inning staked to a 4-1 lead. He’d fork up a leadoff home run to Nick Castellanos. Then, after getting two outs, served up another solo shot to Tyler Collins followed by a game-tying Jarrod Saltalamacchia dinger. Robertson would get out of the inning without any further damage.

In the bottom of the ninth, Melky Cabrera sent the White Sox home winners again, drilling a walk-off RBI single. That gave Robertson the win, his second of the afternoon. As Baseball Tonight notes on Twitter, Robertson is the first player in the last 100 years to give up three home runs in an inning or fewer and still wind up with the victory.

Robertson has had a rough go of it since the All-Star break. He yielded four runs in his first appearance back on July 18. On the season, he’s saved 23 games in 27 appearances with a 4.46 ERA and a 50/21 K/BB ratio in 40 2/3 innings.