Frank McCourt needs money to keep the Dodgers running. Fox wants to loan it to him, with the team’s TV rights as collateral. Bill Shaikin reports, however, that Bud Selig has rejected a proposal under which FOX would have loaned $200 million to Dodgers in a deal that would have met both of the parties’ objectives.
On one level you want to feel bad for McCourt. He has something of value: the rights to broadcast Dodgers games. He has someone willing to give him money for it: FOX. But Bud says no. He says no even though he’s certainly willing to let Fred Wilpon leverage his TV Network — the most valuable property of which is baseball rights — in order to get out from under his Wilpon mess.
The difference, I think, is that Frank McCourt has lost all credibility when it comes to taking on debt. Why would you let him mortgage anything else? Especially when, if he defaults, it will result in a TV network getting the rights to broadcast baseball games at bargain basement rates.
We’ve talked more about the Wilpons lately, but I think Frank McCourt is in more trouble. At least the Wilpons have some assets they could sell to raise cash. McCourt put everything in hock even when times were good, leaving nothing of value now. And now he’s stuck.
Rian Watt of Baseball Prospectus is hearing that a trade that would send Aroldis Chapman to the Cubs involves prospect Gleyber Torres and more going to the Yankees. He adds that the holdup in the trade talks is centered around a contract extension for Chapman, believed to be around four years in length and $60 million total. The deal may not be finalized if the Cubs don’t get him signed to an extension they like. In Watt’s words, “Package is set. Extension is not.”
We learned earlier on Sunday that the Yankees were working hard to trade Chapman, reportedly in contact with at least four teams. The Cubs were not believed to be the front runners but certainly upped the ante by offering Torres.
Torres, 19, is rated the Cubs’ #1 prospect and #24 overall in baseball by MLB Pipeline. The shortstop has spent the season with Single-A Myrtle Beach, batting .275/.359/.433 with nine home runs, 47 RBI, 62 runs scored, and 19 stolen bases in 409 plate appearances.
Torres is currently roadblocked at shortstop by Addison Russell, and 21-year-old Ian Happ is rated #3 in the Cubs’ system, so the club would be dealing from surplus.
Prior to Sunday afternoon’s game against the Mariners, the Blue Jays designated reliever Drew Storen for assignment and recalled reliever Ryan Tepera from Triple-A Buffalo.
Storen, 28, had a nightmare of a time with the Jays, leaving with a 6.21 ERA and a 32/10 K/BB ratio over 33 1/3 innings. The Jays acquired him in January from the Nationals in exchange for outfielder Ben Revere and a player to be named later.
Storen is owed the remainder of his $8.375 million salary, which makes it likelier that the right-hander will pass through waivers unclaimed. He’ll be eligible for free agency after the season.