The Rangers file for bankruptcy


We’re still light on the details (Maury has the press release and some analysis), but the Texas Rangers filed for Chapter 11 bankruptcy this morning. It was a voluntary filing that is being characterized as a “prepackaged” bankruptcy proceeding, which means that all the terms of the bankruptcy are agreed
to before filing, which can result in a shorter turnaround time.  The team is characterizing it as a necessary step to allow Hicks Sports Group to sell the team to Chuck Greenberg and Nolan Ryan. The target date according to the filing: “midsummer.” You may recall that the Cubs did something like this prior to their sale to the Ricketteseseses.

This just came down so the details are still a bit sketchy, but something that sticks out to me is that the creditors of Hicks Sports Group — the ones who have been causing all the problems — aren’t part of the filing. If that’s the case, how could they have agreed to the terms of the “prepackaging?” Moreover, the verbiage in the press release says that the deal will provide “for all Rangers creditors to be paid in full.”  That can’t be technically right, because if there is enough money in the sale to fully satisfy all outstanding debts, the bankruptcy filing — which basically says that part X owes creditors more money than it has — would be tossed out, right?  This deal can’t be a “paid in full” thing. It has to be a “we’ve been paid enough to be happy” thing.

Another possibility — a pretty good one actually — is that there is separate deal in place between Hicks Sports Group and the creditors to settle the outside debt on some sort of payment plan or something else, but to do it outside the framework of the Rangers sale.*  If that were the case it would not necessarily have to be a part of this bankruptcy case. We just don’t know, however, based merely on the terms of the bankruptcy filing.  I will say that it would be pretty reckless for the team to file like this without any creditor signoff, official or otherwise, because it would invite the sort of proceeding — creditors going deep into the Rangers’ business — that they had been threatening to do back when they were at each others’ throats.

The primary upshot: there has to more going on here than meets the press release, probably in the form of some backroom dealing that will (a) keep the dirty financial laundry of the Rangers, Hicks and Major League Baseball out of bankruptcy court discovery proceedings but (b) makes the creditors happy. Otherwise, there’s no point to this filing.

Secondary upshot: if this is going down as the Rangers say it is, the team will be out of ownership limbo within a couple of months and, hopefully, able to resume normal operations, sign draft picks and add payroll in a way that a team in their competitive position should.

More on this, obviously, as the story develops.

*I’m aware that most of the debt at issue is not technically owed by the Rangers — it’s owed by Hicks Sports Group, thereby meaning that the big creditors like Monarch Alternative Captial couldn’t really go after the Rangers. But that’s kind of beside the point. All along these creditors have been making noises about dragging the team itself into bankruptcy if they weren’t paid, and it the suggestion has been strong that they would try to advance legal theories — however novel — that would allow them to encumber the team in order to get the money they are owed by Hicks.  For MLB and the Rangers to make this filing today, they have to think that such a move is not a threat.  This underscores my belief that some sort of side deal between Hicks and the creditors has to have taken place.

Piscotty returns to Cardinals lineup after concussion

Stephen Piscotty
AP Photo/Gene J. Puskar
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Stephen Piscotty took the brunt of a frightening outfield collision last week at PNC Park, but he only suffered a mild concussion and was cleared for baseball activities a couple days later.

Now he is back in the Cardinals’ starting lineup, batting second and playing right field Sunday in the first half of a doubleheader against the Braves at Atlanta’s Turner Field.

Piscotty has an impressive .867 OPS with seven home runs and 39 RBI over his first 62 major league games. He should be a big part of the Cardinals’ postseason push, drawing starts in the corner outfield spots and at first base.

St. Louis will get either the Pirates or Cubs in the NLDS.

What to watch for on the final day of the regular season

Cole Hamels
AP Photo/LM Otero

Here we are, the final day of the regular season. And every game with playoff implications will start at the same time: 3:05 p.m. ET. What to watch …

American League Wild Card


This is where the most intrigue lies heading into the day. We have the Yankees currently in position for hosting duties, but they’re only one game up on Houston. And then Houston is only one game up on Anaheim. Also at play here is that the Astros are just one game back of the Rangers in the American League West standings. If the Yankees, Astros, and Rangers all win on Sunday the current postseason map stays the same — the AL Wild Card Game on Tuesday will be at Yankee Stadium with the Astros visiting. And the Angels would obviously be out. But if the Angels win and the Astros lose, we’ll have a play-in game Monday. And if the Yankees lose, the location of the Wild Card Game on Tuesday could change.

American League West


As we touched on above, the Astros are still in a position to force a tiebreaker for the division if the Angels beat the Rangers again in Arlington. It’ll be Garrett Richards against Cole Hamels in that one. Houston is throwing Lance McCullers vs. Robbie Ray in Arizona.

American League Best Record


If the AL Central-champion Royals (94-67) beat the Twins on Saturday behind deadline acquisition Johnny Cueto, they’ll get the Wild Card Game winner in the ALDS and clinch homefield advantage throughout the postseason. But if they lose, the Blue Jays (93-68) could move into that top seed because they won their season series against Kansas City 4-3. Mark Buehrle is pitching for Toronto in what is supposed to be his final major league game.

National League Wild Card


Pittsburgh losing and Chicago winning on Saturday kept Wild Card Game hosting duties alive for Wrigley Field. If the Pirates fall again to the Reds and the Cubs win at Miller Park, the game Wild Card Game Wednesday will be in Chicago because the Cubs have the season-series edge (11-8) over the Bucs. Pittsburgh can wrap up clinching duties with a victory behind J.A. Happ.

Stay tuned. We’ll be covering all angles as the 2015 regular season comes to a close.