The Dodgers have been turned down for additional credit multiple times

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Frank McCourt famously leveraged the Dodgers after purchasing them. Indeed, he saddled an asset he bought for $430 million with something like $433 million in debt. We knew that. His defense has always been, however, that the Dodgers are a cash cow and that there are tons of untapped revenue sources available. And that all may be true. But that’s not impressing lenders very much, reports Bill Shaikin of the L.A. Times:

McCourt was turned down at least three times — by Citibank, by a Chinese
investment group and by a Southern California infomercial king — in
trying to secure additional financing last year, according to documents
filed in the divorce case between him and his estranged wife, Jamie.

In a deposition, Dodgers Chief Financial Officer Peter Wilhelm said Citibank declined even to engage in serious negotiations.

“They did not feel that the Dodger organization had the capacity to take on more debt,” Wilhelm said.

Shaikin reports that the debt load “has limited how the Dodgers can pay their players and could affect the team’s ability to sign talent.”  Doesn’t seem like there’s any “could” about it, given that another of the story’s quoted sources says that every free penny the team pulls in goes towards debt service.

McCourt has said all along that his divorce hasn’t had a negative impact on the Dodgers baseball operations. Maybe he’s right!  It’s been everything about his management style prior to the divorce that was the real culprit.

Cardinals acquire Marcell Ozuna from the Marlins

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The St. Louis Cardinals have acquired Marcell Ozuna from the Miami Marlins. Craig Mish of Sirius XM was the first to report that the deal was done. Ozuna still has to take a physical.

There is no report yet about what the Cards had to give up to get Ozuna, but given that the Cards and Marlins put a deal together for Giancarlo Stanton, the sides certainly have discussed various Cards prospects recently.

Ozuna fills a major need for the Cardinals, who had serious weaknesses in the middle of the order in 2017. Last year their number three hitters hit a combined .246/.338/.425 and their cleanup hitters hit 270/.350/.444. Ozuna, 27, had a fantastic offensive year in 2017, hitting .312/.376/.548 with 37 home runs and 124 RBI in 159 games.

Ozuna made $3.5 million this past season and is due for arbitration this offseason. He is under contractual control through 2019.