Baseball does not want you to know about its debt crisis

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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?”

Yikes!

Rob Manfred says Tampa Bay must pick up pace on new stadium

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ST. PETERSBURG, Fla. (AP) Baseball Commissioner Rob Manfred wants Tampa Bay to work a little quicker on getting the Rays a new ballpark.

Rays Principal Owner Stuart Sternberg has been working for nearly a decade to get a new stadium for the club and signed a three-year agreement with the City of St. Petersburg early in 2016 to search for a site in the Tampa Bay area. Manfred wants that search to pick up some steam.

“I think it’s fair to say we want the process to take on a better pace moving forward,” Manfred said Wednesday night at Tropicana Field, home of the Rays since their first season in 1998.

The Rays were averaging 15,815 fans per game before Wednesday night’s contest against the Toronto Blue Jays. That is just over half the major league average of 30,470. Tropicana Field and its location have been almost universally blamed as the reason for the poor attendance.

“I’ve been pretty clear that they need a new facility here, a major league quality facility in an A-plus location,” Manfred said. “It is time to move that decision to the front burner here in Tampa.”

The matter of how a stadium would be financed has been tabled until a site is determined, but Sternberg continued to express confidence in the Tampa Bay market.

“I’ve had the opportunity to bail on it many times over the years,” he said. “I won’t say this is a slam dunk, it’s certainly not. But I think we can do something that’ll at least double our attendance. That’s a lot to ask for.”

Manfred said Major League Baseball “doesn’t have a firm timetable” for what steps to take if the Rays fail to get an agreement to build a new stadium in the Tampa Bay area, but but added that “it is a topic of discussion in the industry, the lack of progress.”

More AP baseball: https://apnews.com/tag/MLBbaseball

Robinson Cano leaves game with hamstring tightness

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Bad news for the Mariners this evening: Robinson Cano left Seattle’s game against the Atlanta Braves with tightness in his left hamstring.

Cano walked off the field after legging out a double — his second of the game — in the third inning. He pulled up as he approached second base and walked off the field, accompanied by a trainer. There was no immediate word on the severity of the injury. The Mariners have a day off Thursday before opening a series at the Yankees on Friday night, so they have some time to evaluate him.

Cano is hitting .277/.377/.460 with 19 homers and 78 RBI on the year.