There is an in-depth report at Forbes today about the debt crisis facing Major League Baseball that anyone who cares about the business of the game should read.
The story focuses primarily on the well-known financial problems facing the Mets and Dodgers, with a shout-out to the Tom Hicks Rangers, but it suggests that teams taking on too much debt is a widespread problem. The trick comes via what Forbes says is owners’ circumvention of Major League Baseball’s often-cited, but rarely enforced debt ratio rules. Put your debt in a holding company like Tom Hicks did and, voila, you’re in compliance, even as you are being crushed by debt collectors.
One would think that such a charge would meet with a strong rebuke from Bud Selig, but he leaves that to his number two guy, Rob Manfred. And Manfred’s response is a bit unsettling:
“Nobody outside the game knows what was done or not done with respect to any individual club … I don’t think anyone outside the game is in a position to make a judgment as to how the debt-service rule has been administered.”
Really? No “you’re wrong,” or “baseball ownership is healthy?” Forbes comes to you and says that it’s writing a story about how teams routinely circumvent the debt ceiling rules and are doing so at tremendous risk and peril, and you’re really going with “how would you know?”
Just when Matt Harvey drama seemed to be subsiding, Matt Harvey drama begins anew.
Adam Rubin of ESPN New York reports that the Mets starter missed a mandatory workout today at Citi Field. Sandy Alderson had no information about why Harvey was gone and Harvey was not excused by the team. Alderson gave no comment.
Just a few minutes ago Harvey showed up and upon getting in front of reporters issued a brief statement with little elaboration:
Because this is New York, you know darn well there will be more to this. We’ll update when it comes out.
Dan Jennings‘ tenure as the Marlins manager has not been great and the team is now actively looking for his replacement. But his old job is there waiting for him if he wants it, reports Clark Spencer of the Miami Herald: Jennings has been asked to come back as the team’s general manager.
Or maybe “asked” is not correct. Team President David Samson said “there’s no decision” for Jennings to make and that he’s still “a signed member” of the team’s front office, reporting to baseball operations president Michael Hill.
Reports last month suggested that Jennings would take a wait-and-see approach regarding returning to the Marlins front office, with hopes of possibly landing a GM job in another organization with greater control than he’s had and will have with the multi-headed Marlins management team. The Mariners, for one, were a team Jennings was said to have his eye on. But that job has been filled and it would not seem like such opportunities have presented themselves to him.
So: it would seem a good bet that Jennings is back upstairs with the Marlins soon. Because the Marlins fully expect him to be.