I love that this was sold as a “prepackaged” bankruptcy. If I bought something prepacked like this at the grocery store I’d take it to the manager and demand a refund. Danial Kaplan at SBD:
The Texas bankruptcy court appointed chief restructuring officer (CRO)
has decided an auction of the MLB Rangers should occur, multiple sources
tell SportsBusiness Journal . . . The sources said the CRO, William Snyder, has already informed MLB
President & COO Bob DuPuy and said league approval will not be a
criteria for deciding the best bid.
At the outset, note that this is only a recommendation. The court itself can ignore it and, instead, simply give the OK to the Rangers’ bankruptcy plan as-amended. I haven’t even close to the bankruptcy court experience to even pretend to guess at how likely it is that the court would act on the recommendation, rubber-stamp the plan, poop or go blind.
All we know for sure is that this news, combined with this morning’s information about the unsuccessful creditors being invited to next-week’s mediation, sets the stage for a rebidding if the judge agrees to go along with the recommendation. A rebidding, Kaplan reports, that would not have “whether or not Major League Baseball likes you” as a criteria.
At which point it would be interesting to see what, if anything, Major League Baseball does about it. Because remember: MLB likes to pretend that it’s federally-created antitrust exemption allows it to accept or reject would-be team owners with impunity. I assume that they’re not going to try and pull rank over a bankruptcy judge on this point — this sale is complicated enough already — but if they don’t, does it not put an end to the fiction that they can pick and choose new owners?
Oh well. Just another fun day in the sale that everyone insisted was a “done deal” back in January or whatever.
Joe Longo, the agent of Marlins outfielder Christian Yelich, said his client’s relationship with the Marlins is “irretrievably broken,” ESPN’s Jerry Crasnick reports. He believes in the best interest of both Yelich and the Marlins to work out a trade before the start of spring training.
They have a plan. I respect that plan, but that plan shouldn’t include Christian at this point in his career. He’s in the middle of the best years of his career, and having him be part of a 100-loss season is not really where [we] want to see him going.
The relationship between player and team is irretrievably broken. It’s soured. He’s part of the old ownership regime. The new ownership regime needs to get new parts into this plan and move forward, and he needs to get on with his career where he’s got a chance to win. The big issue is him winning and winning now.
He loves the city of Miami. He loves the fans. He’s had nothing but a good experience in South Florida, and he feels sorry where they ended up. But I think having him report [to spring training] and attempting to include him moving forward is going to be uncomfortable for both sides. I don’t see how it’s going to work.
This certainly comes as no surprise considering the offseason the Marlins have had after installing new ownership, going from Jeffrey Loria to Bruce Sherman and Derek Jeter. The club traded All-Star outfielder Giancarlo Stanton, who hit 59 home runs last season, as well as Dee Gordon and Marcell Ozuna. As Crasnick notes, Yelich isn’t the only player to express disappointment with the Marlins’ current direction — J.T. Realmuto and Starlin Castro have as well.
Yelich, 26, signed a seven-year, $49.57 million contract extension with the Marlins in March of 2015. Given his career performance, that’s a bargain of a contract, which is why more than a handful of teams have inquired with the Marlins about him this offseason. Yelich finished the past season with a .282/.369/.439 triple-slash line along with 18 home runs, 81 RBI, 100 runs scored, and 16 stolen bases in 695 plate appearances.