The battle for the Texas Rangers lost a lot of its intrigue for me when the team traded for Cliff Lee. The reason for this is simple: while the drama was interesting on some level as a business story, its significance — to me at least — had mostly to do with how much the strife would impact the Rangers’ ability to make the necessary moves to stay in contention. They made the moves, however, and the courtroom drama turned into more of a sideshow.
But that changed last night when a boring legal battle turned into a dramatic auction, with Mark Cuban and Jim Crane appearing as though they were going to leave the courthouse as the new owners. Indeed, for a while there, they would raise their bid by tens of millions of dollars in the space of mere minutes, while it took Greenberg and Ryan hours to come up with a higher bid of their own. At one point the restructuring officer informed the court that Cuban would beat any bid Greenberg made, and Cuban’s lawyer boldly proclaimed “my client is prepared to own this team.” There were obscenity-filled shouting matches and, at around midnight, Greenberg’s group appeared as though it was going to march out of the courtroom in protest.
But then things changed. Greenberg upped the cash portion of his bid to $365 million (and noted as he did it that, at that very moment, Michael Young hit a grand slam in the Rangers-Mariners game). Cuban and Crane then upped theirs to $390 million. However, because a sale to Cuban was presumed to take much longer to close and because time is money, Cuban essentially had to outbid Greenberg by $25 million. Greenberg came back five minutes later at $385 million.
Cuban took ten minutes to consider going up past $400 million. Then he folded. Chuck Greenberg and Nolan Ryan had won. They will be the next owners of the Texas Rangers.
But make no mistake: this was a costly victory. For months, Greenberg and Ryan were offering a cash portion of the deal that would have paid team creditors $230 million. The creditors said that they would have accepted $300 million to drop their objections to the sale. In thinking that they could do an end-run around the creditors’ demands, Greenberg and Ryan took the Chapter 11 route. That move ended up costing them nearly $100 million in cash before even considering the legal fees and interest on operating loans. Overall, the legal battle caused the sale price of the team to go up from $520 million to $588 million.
Which brings us back to the on-the-field impacts of all of this. How much does that $100 million in cash and overall increase of $68 million in sale price affect baseball operations? I’m guessing if you asked them Greenberg and Ryan would say not a all — and this morning Greenberg is talking big about signing Cliff Lee to a long-term deal — but that hardly seems logical. The fact is that the Rangers will have new owners but those new owners will be much more leveraged than they had planned to be when they drew it all up.
But that’s a worry for another day. For now it’s enough for Rangers fans to know that their team will soon be out of bankruptcy court purgatory.
This shouldn’t cause any controversy, lead to a lot of people saying dumb things or provide fodder for jokes at all. Nope, none whatsoever:
In what promises to be a bombshell move, if executed, all-time great slugger Barry Bonds is under consideration to become Marlins hitting coach.
Team higherups have quietly been discussing this possibility for weeks.
That’s Jon Heyman, who reminds us that Bonds has worked with the Giants in the spring in recent years. And who, no matter what else you can say about him, was one of the greatest hitters the game has ever seen. Also worth remembering that despite his controversial past, that greatness came not just from physical gifts, naturally or artificially bestowed. It came from his approach, preparation and strategy at the plate. No one can teach a hitter to hit like Barry Bonds, but you’d think that hitters could be taught to try to approach an at bat the way Barry Bonds would. And who better to do it than Barry Bonds?
That is, if Bonds is willing to drop his seemingly ideal retired life in San Francisco, move to Miami and work for Jeff Loria for nine months a year. Which, eh, who knows? But the possibility of it is pretty fascinating to think about.
Veteran catcher Brayan Pena has agreed to a two-year, $5 million contract with the Cardinals, who’re investing much more than usual in their backup for Yadier Molina.
After bouncing around for a decade without getting even 250 plate appearances in a season Pena signed with the Reds and topped 350 plate appearances in both 2014 and 2015. His production didn’t improve any, as Pena hit .263 with five homers and a .652 OPS in 223 games as a regular.
Pena’s best skill is rarely striking out, which enables him to hit for a decent batting average, but he has very little power and swings at everything. He struggled to control the running game this season at age 33, but has a decent throw-out rate for his career.
Making a multi-year commitment to Pena suggests the Cardinals are no longer counting on Molina being the same type of workhorse behind the plate, which certainly makes sense given his age and injury history. Pena will replace Tony Cruz, who’s been Molina’s understudy since 2011 while hitting just .220 with five homers and a .572 OPS in 259 games.
It’s a pretty slow offseason so far. We’ve had a couple of minor signings. I guess Jordan Zimmermann is sort of a big deal. But it’s a lot more quiet so far this year than it was this time last year. I suppose there’s no real rhyme nor reason for it. Baseball offseason is long, there is no salary cap and thus there’s no rush to do things too quickly.
So, while we wait, here’s Andrew McCutchen doing his best to kill time until spring training starts:
Veteran outfielder Chris Young thrived in a platoon role for the Yankees this past season and now he’s headed to the rival Red Sox to fill a similar role, signing a multi-year deal with Boston according to Ken Rosenthal of FOXSports.com.
Young was once an everyday center fielder for the Diamondbacks, making the All-Star team in 2010 at age 26, but for the past 3-4 years he’s gotten 300-350 plate appearances in a part-time role facing mostly left-handed pitching. He hit .252 with 14 homers and a .773 OPS for the Yankees, but prior to that failed to top a .700 OPS in 2013 or 2014.
Given the Red Sox’s outfield depth–Mookie Betts, Rusney Castillo, Jackie Bradley Jr., and Brock Holt even with Hanley Ramirez back in the infield–Young is unlikely to work his way into everyday playing time at age 32, but he should get another 300 or so plate appearances while also providing a veteran fallback option. And it’s possible his arrival clears the way for a trade.