1:51 AM: Just a quick update here. As Anthony Andro of the Fort Worth Star-Telegram reported just moments ago, the group led by Nolan Ryan and Chuck Greenberg won the auction. They out-lasted several massive over-bids by Mark Cuban and stepped up with a $385 million cash offer early Thursday morning. Great stuff by Andro and Co.
4:05 PM: Daniel Kaplan of SBJ reports that the review of the initial bids in the Texas Rangers auction is finally over (they’ve been in court all day) and get this: Mark Cuban and Jim Crane have “the highest and best bid” by $25 million.
Per some complicated legal business this morning, the Greenberg-Ryan group will now get some time — maybe some hours, maybe until tomorrow — to come back and top that bid. And they have to do it by $2 million to stay in the game.
That is, if they don’t make up their own rules. Minutes after the bidding was announced, Greenberg and Ryan’s lawyers (a) asked for more time; and (b) said that they’d attempt to block Cuban and Crane’s bid from being accepted via appeal and maybe some other legal action. So that’s nice. There’s also the distinct possibility — again, per Greenberg’s lawyer — that Major League Baseball may take up to nine months to approve Cuban and Crane as owners, which they argue would practically lower the real value of Cuban and Crane’s bid.
There will obviously be tons of twists and turns in the next few hours, let alone the next few weeks, so this doesn’t mean that Cuban and Crane will wind up owning the team. But it does mean that for them not to it will mean that either Greenberg and Ryan will (a) have to come up with a ton more money; or (b) convince Major League Baseball and/or a court of law that the most valuable offer for the Texas Rangers should not actually get the team.
Ken Rosenthal of FOX Sports reports that the Cubs have signed pitcher Brett Anderson to a contract, pending a physical. Anderson, apparently, impressed the Cubs during a bullpen session held in Arizona recently. According to Jeff Passan of Yahoo Sports, the deal is for $3.5 million, but incentives can bring the total value up to $10 million.
Anderson, 28, has only made a total of 53 starts and 12 relief appearances over the past five seasons due to a litany of injuries. This past season, he made just three starts and one relief appearance, yielding 15 runs on 25 hits and four walks with five strikeouts in 11 1/3 innings. The lefty dealt with back, wrist, and blister issues throughout the year.
When he’s healthy, Anderson is a solid arm to have at the back of a starting rotation or in the bullpen. The defending world champion Cubs aren’t risking much in bringing him on board.
Ken Rosenthal of FOX Sports provides an interesting window into how teams handle a player’s contract after he has died in an accident. It was reported on Sunday that Royals pitcher Yordano Ventura died in a car accident in the Dominican Republic. He had three guaranteed years at a combined $19.25 million as well as two $12 million club options with a $1 million buyout each for the 2020-21 seasons.
What happens to that money? Well, that depends on the results of a toxicology report, Rosenthal explains. If it is revealed that Ventura was driving under the influence, payment to his estate can be nullified. The Royals may still choose to pay his estate some money as a gesture of good will, but they would be under no obligation to do so. However, if Ventura’s death was accidental and not caused by his driving under the influence, then his contract remains fully guaranteed and the Royals would have to pay it towards his estate. The Royals would be reimbursed by insurance for an as yet unknown portion of that contract.
The results of the toxicology report won’t be known for another three weeks, according to Royals GM Dayton Moore. Dominican Republic authorities said that there was no alcohol found at the scene.
Ventura’s situation is different than that of Marlins pitcher Jose Fernandez, who died in a boating accident this past September. Fernandez was not under contract beyond 2016. He was also legally drunk and cocaine was found in his system after the accident. Still, it is unclear whether or not Fernandez was driving the boat. As a result, his estate will receive an accidental death payment of $1.05 million as well as $450,000 through the players’ standard benefits package, Rosenthal points out.