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.
Giants and Brandon Belt have an arbitration hearing scheduled for Wednesday
Brandon Belt filed for $7.5 million and was offered $5.3 million by the Giants when arbitration figures were exchanged last month. That’s a pretty sizable gap. While there’s still a chance that an agreement will be worked out at the last minute, Henry Schulman of the San Francisco Chronicle reports that an arbitration hearing is scheduled for Wednesday.
The Giants haven’t gone to an arbitration hearing since 2004, when they lost to catcher A.J. Pierzynski. Schulman hears from one person involved that because of the gap between Belt and the Giants, there’s a real chance this will break that string and require a hearing.
Belt batted .280/.356/.478 with 18 home runs and 68 RBI over 137 games in 2015, but he dealt with concussion symptoms for the second straight season. An arbitration hearing could bring some unpleasant conversation to the surface.
Schumaker, who turned 36 last week, has spent the last two seasons with the Reds. He batted .242/.306/.336 with one home run and 21 RBI over 131 games last season while making starts between all three outfield spots and second base. Cincinnati cut ties with him in November after declining a $2.5 million club option for 2016.
While Schumaker had to settle for a non-guaranteed deal here, it would be no surprise to see him land a bench job with the Padres come Opening Day.
After Ruben Tejada suffered a fractured right fibula on a takeout slide from Chase Utley during the playoffs, there was momentum for a new rule about slides at second base. We haven’t heard much about it since the Owners’ Meetings in November, but ESPN’s Buster Olney reports that talks between MLB and the players’ union are making progress and a change is expected for the 2016 season.
The exact wording of the new rule is still unclear, but Olney hears that there’s a focus toward “ensuring that sliding runners either touch the base or make an effort to touch the base.” Below are some more details:
Sources said that in the union’s internal discussions, players made it clear they had been taught since they first began playing baseball to go into second base with the intent of breaking up double-play attempts. Although the union wants to improve safety for middle infielders, it does not want to eliminate players’ aggressiveness on slides or the ability to break up a double play.
However, there is a desire on both sides to eliminate slides on which a baserunner goes beyond the effort to reach second to make contact with middle infielders.
There’s already a rule in place for a situation like we saw with Utley, but it’s rarely, if ever, enforced. It’s unfortunate that Tejada’s fractured fibula had to be the catalyst for change or clarification with the rules, but hopefully this will result in fewer injuries in the future. Similar to the “Buster Posey Rule” for plays at home plate, get ready for life with the “Chase Utley Rule.”
Here’s the video of the Tejada/Utley play:
And here’s the video of another high-profile play from 2015 which resulted in a torn lateral meniscus and a fractured tibia for Pirates infielder Jung Ho Kang:
UPDATE: Jason Beck of MLB.com confirms that it’s a two-year, $18.5 million deal.
8:00 p.m. ET: Chris Cotillo of MLB Daily Dish reports that the Tigers have avoided arbitration with outfielder J.D. Martinez by agreeing to a two-year contract. No word yet on the terms involved, but Robert Murray of Baseball Essential reported earlier today that he was hearing rumblings about a two-year, $18.5 million deal.
Martinez filed for $8 million and was offered $6 million by the Tigers when arbitration figures were exchanged last month. There has been some talk about a long-term extension, but we heard last week that the two sides were discussing both one- and two-year deals. This new deal will buy out Martinez’s final two years of arbitration, so as of now, he’s still on track to go into free agency after 2017.
After a breakout 2014, Martinez batted .282 with 38 home runs and an .879 OPS over 158 games last season.