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.
Last we heard from Shelby Miller, the Diamondbacks’ right-hander was contemplating Tommy John surgery for a partial UCL tear in his right elbow. Now, he appears to have decided to go through with the procedure.
Miller decided to skip Tommy John alternatives like plasma-rich platelet injections or stem cell treatment, which have been used to varying degrees of success by other major league pitchers with similar injuries. The surgery will set him back an estimated 12-18 months, FanRag Sports’ Tommy Stokke reports, which puts Miller’s estimated return date somewhere in 2018 if all goes well.
The 26-year-old starter was off to a rocky start this season, posting a 2-2 record and 4.09 ERA through 22 innings and striking out just 20 of 99 batters faced. This was his sophomore campaign in Arizona after muddling through the 2016 season with a 3-12 record, 6.15 ERA and 0.5 fWAR over 101 innings with the club.
Rays’ right fielder Steven Souza Jr. left Saturday’s game after getting hit on the left hand by a pitch from Blue Jays’ right-hander Joe Biagini in the seventh inning. The pitch appeared to hit the top of Souza Jr.’s hand, causing the outfielder to crumple at the plate and requiring assistance from assistant athletic trainer Paul Harker as he exited the field. Postgame reports from the Tampa Bay Times’ Marc Topkin revealed that Souza Jr. sustained a left hand contusion and is scheduled to undergo further evaluation on Sunday.
While the diagnosis isn’t as bad as it could be, it’s still a tough break for the right fielder, who missed 40 days of the 2015 season after sustaining a fracture in his left hand on another hit by pitch. The team has yet to announce any concrete timetable for Souza Jr.’s return, though manager Kevin Cash indicated that they’ll be taking things day to day for the time being.
Souza Jr. is batting .326/.398/.543 with four home runs and 17 RBI through 104 PA in 2017. He went 1-for-2 with a base hit and a walk prior to his departure during Saturday’s 4-1 loss.