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. 

Freddie Freeman extends hitting streak to 30 games

ATLANTA, GA - SEPTEMBER 17: Freddie Freeman #5 of the Atlanta Braves waits to bat in the fifth inning against the Atlanta Braves at Turner Field on September 17, 2016 in Atlanta, Georgia. (Photo by Daniel Shirey/Getty Images)
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Braves first baseman Freddie Freeman extended his hitting streak to 30 games with a single to center field in the bottom of the sixth inning of Wednesday night’s win against the Phillies. Prior to that at-bat, he had grounded out, been hit by a pitch, and walked.

Freeman entered Wednesday night batting .382/.477/.673 with 11 doubles, seven home runs, 27 RBI, and 24 runs scored over his past 29 games. Though his numbers are lacking compared to National League MVP Award favorite Kris Bryant, Freeman will get some top-five votes. On the season, he entered Wednesday hitting .307/.404/.576 with 33 home runs, 88 RBI, and 99 runs scored in 673 plate appearances.

Freeman’s 30-game hitting streak is the longest such streak in the majors this season, according to ESPN Stats & Info. He has also reached base safely in 46 consecutive games.

If Mets clinch Wild Card spot, Noah Syndergaard to be limited to 25 pitches on Sunday

WASHINGTON, DC - SEPTEMBER 13:  Noah Syndergaard #34 of the New York Mets pitches in the third inning against the Washington Nationals at Nationals Park on September 13, 2016 in Washington, DC.  (Photo by Greg Fiume/Getty Images)
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Mets manager Terry Collins has been scheming out his rotation for the final few days of the season. As ESPN’s Adam Rubin reports, Bartolo Colon may start on short rest against the Phillies on Friday since he threw just 47 pitches in Monday’s loss to the Marlins.

Collins also said that if the Mets clinch a Wild Card spot prior to Sunday’s game against the Phillies, Noah Syndergaard will be limited to only 25 pitches in his start. He would then start the Wild Card game for the Mets. If Syndergaard is needed to pitch a full game against the Phillies, it sounds like Colon would start the Wild Card game, though Collins did not specify.

The Mets are limping to the finish line, having lost five starters in Steven Matz, Jacob deGrom Matt Harvey, Zack Wheeler, and Jon Niese. They’ve also withstood injuries to David Wright, Wilmer Flores, Neil Walker, and Lucas Duda.