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.

And That Happened: Thursday’s scores and highlights

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Fox Sports South
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Here are the scores. Here are the highlights:

Rays 2, Red Sox 1Mikie Mahtook had been hitless in 34 straight at-bats before hitting a go-ahead double in the seventh. If it first you don’t succeed, try try try try try try try try try try try try try try try try try try try try try try try try try try try try try try try try try try again.

Nationals 4, Orioles 0: The Nats break a four game losing streak thanks to Max Scherzer‘s eight shutout innings and ten strikeouts. Jayson Werth homered in the fourth and Daniel Murphy and Bryce Harper each doubled home run(s) in the eighth. Moral victory for the Orioles, though, in trotting out Ubaldo Jimenez and seeing him actually pitch well (6 IP, 5 H, 1 ER) instead of watching him start a tire fire.

Angels 6, Blue Jays 3: A 3-for-4, 4 RBI night for Mike Trout, which puts his batting line at .316/.432/.555. He’s on a pace for 30+ homers, 100+ RBI, nearly 30 stolen bases, leads the league in walks and, as always, has been playing gold glove-caliber defense. My guess is that he finishes third or fourth in MVP balloting.

Mets 10, Cardinals 6Alejandro De Aza hit a three-run homer and drove in five runs in all. That homer doesn’t happen at all if the Cards record out number three on the play before. Which they almost did and would have if not for one of the strangest dang plays you’ll ever see.

Rangers 9, Indians 0: Cole Hamels goes eight shutout innings and allows only two hits to win his 14th game and lower his ERA to 2.67 but, nah, he’s not an ace. Carlos Gomez homered in his first game as a Ranger. Can you imagine the agita Astros fans will feel if Gomez rakes down the stretch for Texas after stinkin’ up the joint as an Astro? In other news, Adrian Beltre drove in three and Jason Kipnis had a lot of fun with Rougned Odor. I’m sure Jose Bautista finds absolutely NOTHING funny about it at all.

Pirates 3, Brewers 2: Andrew McCutchen hit a home run and a pair of RBI singles, one of which proved to be the game-winner in the tenth. Pittsburgh breaks a nine-game losing streak in Miller Park.

Giants 4, Dodgers 0: Obviously the big story here — the one that will lead headlines everywhere this morning — was Matt Moore’s near-no-hitter. I mean, what else could there possibly be to take away from this ga–

Yes. That was EXACTLY the story of this game.

Braves 3, Diamondbacks 1: Lost in Moore’s near no-hit bid was Matt Wisler’s. The Braves starter didn’t allow a hit until the seventh inning and allowed only two overall, producing one run, in eight total innings. Freddie Freeman took a bad tumble trying to make a catch in the stands, smacking his back on an empty seat:

He stayed in the game, but man, that’s one that could’ve been way, way worse.

White Sox 7, Mariners 6: Todd Frazier struck out in his first three at-bats but made his last two count. Frazier tied the game up with an RBI single in the seventh inning and won it with a walkoff single down the left-field line in the ninth. Also in the ninth: three fans running on the field in two separate incidents. David Robertson was on the mound and he didn’t much care for the interruptions:

“The first two guys I was like, `Ok. All right. They’ve got it under control,” Robertson said. “The next guy, I got a little angry there.”

More like Guaranteed Irate field, amirite?

Royals 5, Marlins 2: Alcides Escobar homered, doubled, and drove in two runs but, wow, Jarrod Dyson, man:

Tigers 8, Twins 5: James McCann had four hits including a three-run homer as the Motor City Kitties sweep the Twinkies (note: if MLB is serious about getting young people into the game, all team names should be changed to their cutest possible variants, thereby securing the hearts and fandom of the five-year-old set).

Moore loses no-hitter with 2 outs in 9th, Giants top Dodgers

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LOS ANGELES (AP) San Francisco lefty Matt Moore lost his no-hit bid with two outs in the ninth inning on a soft, clean single by Corey Seager, and the Giants beat the Los Angeles Dodgers 4-0 Thursday night.

Moore’s try ended on his 133rd pitch. It was Seager Bobblehead Night at Dodger Stadium, and a sellout crowd cheered Moore after the ball plopped onto the grass in shallow right field.

Moore was pulled immediately. Giants manager Bruce Bochy had been pacing in the dugout for a couple of innings as Moore’s pitch count climbed – he missed most of the last two seasons after Tommy John surgery.

Giants center fielder Denard Span sprinted for two outstanding catches, including a leadoff grab in the ninth, to give Moore a chance.

Moore earned his first win for the Giants since they got him in a trade with Tampa Bay on Aug. 1.

The 27-year-old Moore nearly gave San Francisco a major league record five straight years with a no-hitter. And he almost became the first Giants pitcher to no-hit the archrival Dodgers since 1915, when New York’s Rube Marquard stopped Brooklyn.

Moore struck out seven and walked three. Reliever Santiago Casilla needed just one pitch to get the final out.

The win moved the Giants within two games of the NL West-leading Dodgers.