The Rangers bankruptcy decision: maybe not as bad as it seemed yesterday

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As I admitted yesterday, I had not had not yet had a chance to read the judge’s decision in the Rangers’ bankruptcy case. I read it last night, however, and in light of that it’s probably worth dialing back my initial reaction a bit.

Yes, this was still a setback for the Rangers and the sale of the team.  Neither the parties nor those who followed last week’s hearing expected the decision that the creditors’ rights were impaired. Indeed, the fact that Nolan Ryan and others close to the Rangers felt comfortable talking about potential trade targets in recent days suggests that they expected the judge would OK the prepackaged plan with little fuss.  The court’s ruling yesterday constitutes fuss, however, and the team does need to do some work in order to get through the process and have the team sold.

But it’s not as huge a fuss as it first seemed yesterday.  Yes, the creditors now have a right to vote on the bankruptcy plan which, if they had not been found to have had their rights impaired, they would not have.  I was wrong in suggesting yesterday, however, that the creditors could block the sale to Greenberg. The vote they now have is on the bankruptcy plan, not a veto over the sale.

The only way the sale itself could be hindered is if, for some reason, the Rangers do not restructure the bankruptcy plan in a way that gives the creditors the rights (e.g. the right to sue for damages, etc.) that the judge says they have. Given that the Rangers and creditors will be working with a mediator on this, that seems rather unlikely. It would also be rather stupid of them not to make the necessary changes.

But while my initial reaction was a bit overheated, it would probably be wrong to swing the pendulum too far back the other way as well. This decision, while not as devastating as initial reports first made it seem, does occasion delay and at least a possibility that more bumps could form in the road ahead. After all, if you give lawyers enough time to talk about something, they’re likely to come up with seven problems no one ever considered in the first place. And of course delay and uncertainly was exactly what the team’s bankruptcy filing was designed to avoid in the first place.

Nevertheless, while the news was not good for the Rangers, it was not as bad as my report and the reports of others made it seem.  Such are the perils of blogging, of course, but when it comes to legal stuff like this I, more than anyone, should know better than to go all ready-fire-aim like this. I’ll try not to do that again.

Note: a mighty shoutout to Baseball Time in Arlington on this point is in order.  BBTIA correctly illustrated how the media — and particularly I — got sloppy yesterday in an effort to try and be first and fast and all of that. I’ll gladly take my spanking from them in exchange for their handy digest of all of the day’s coverage of the decision, to which they link. 

Baseball Hall revamps veterans’ committees

Cooperstown
Associated Press
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COOPERSTOWN, N.Y. (AP) Baseball’s Hall of Fame has again revamped its veterans’ committees, attempting to increase consideration for more contemporary players, managers, umpires and executives.

Under the change announced Saturday by the Hall’s board of directors, there will be separate committees for Today’s Game (1988-2016), Modern Baseball (1970-87), Golden Days (1950-69) and Early Baseball (1871-1949). Today’s Game and Modern Baseball will vote twice every five years, Golden Days once every five years and Early Baseball once every 10 years.

“There are twice as many players in the Hall of Fame who debuted before 1950 as compared to afterward, and yet there are nearly double the eligible candidates after 1950 than prior,” Hall chair Jane Forbes Clark said in a statement. “Those who served the game long ago and have been evaluated many times on past ballots will now be reviewed less frequently.”

Today’s Game will vote in 2016, `18, `21, and `23, and Modern Baseball in 2017, `19, `21 and `23. Golden Days will vote in 2020 and `25, and Early Baseball in 2020 and `30. The Hall’s Historical Overview Committee will decide which committee will consider those who span eras, based on the time or place of their most indelible impression.

Since 2010, the Hall had established three veterans committees: Pre-Integration Era (1871-1946), Golden Era (1947-72) and Expansion Era (1973-2016). No one was elected by the Pre-Integration Era committee in December.

In addition, the Hall eliminated the one-year waiting period between a player’s last appearance on the Baseball Writers’ Association of America ballot and his veterans committee debut for consideration. The Hall also said active executives 70 or older may be given consideration, up from 65.

Committees will remain at 16 people, with a vote of at least 75 percent needed for election. The ballot size will be 10 for each committee; it had been 12 for Expansion Era and 10 for the others.

The BBWAA votes on players who have been retired for at least five years and no more than 15. Ken Griffey Jr. and Mike Piazza are to be inducted Sunday.

The Hall also changed some of the rules for the Ford C. Frick Award, presented annually to a broadcaster for “major contributions to baseball.” The committee making the annual decision will consider a three-year cycle of Current Major League Markets (team-specific announcers) for the 2017 award, National Voices for 2018 and Broadcasting Beginnings (early team voices and pioneers) for 2019.

Since 2013, the Frick’s three-year cycle had been High Tide Era (mid-1980s to present), Living Room Era (mid-1950s to mid-1980) and Broadcasting Dawn Era (before mid-1950s).

The criteria will be “commitment to excellence, quality of broadcasting abilities, reverence within the game, popularity with fans, and recognition by peers” instead of “longevity; continuity with a club; honors, including national assignments such as the World Series and All-Star Games; and popularity with fans.”

The Frick ballot size will be reduced from 10 to eight, and the three ballot spots previously determined by fan voting will be decided by historians.

Ozzie Smith, inducted to the Hall in 2002, was voted to the Hall’s board of directors.

Red Sox analyst Remy struck by monitor as wind causes havoc

ramirez
AP Photo
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BOSTON — Red Sox TV analyst Jerry Remy was hit in the head by a falling TV monitor as swirling winds caused havoc during the first inning at Fenway Park.

Remy was sent home from Boston’s game Saturday night against the Minnesota Twins but is expected back Sunday. Former player Steve Lyons, also an analyst during some games, came in for Remy.

The strong winds made for an interesting first.

Minnesota’s Robbie Grossman hit a fly that appeared headed for center, but a gust blew it to right, sending right fielder Michael Martinez twisting as the ball fell for a triple.

There were a handful of stoppages as dirt and litter swirled around the field. Batters stepped out to wipe their eyes and Red Sox first baseman Hanley Ramirez headed to the dugout to have a trainer help him clear his left eye.