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?”
The Atlanta Braves and Los Angeles Angels have completed a minor trade: Atlanta is sending righty reliever David Hernandez to the Angels in exchange for a player to be named later or cash considerations.
Hernandez hasn’t pitched in the big leagues this year. He’s pitched in seven games at Triple-A, allowing one earned run in eight innings of work. In seven years of big league work he’s got an ERA of 4.10 in 379 games. Last year he put up a 3.84 ERA in 70 games for the Phillies.
I’m assuming the PTBNL is not Mike Trout.
The Nationals began the year with Blake Treinen as their closer. That didn’t last long, and now Koda Glover seems to be Dusty Baker’s man in the ninth inning. He earned a save for the second consecutive game yesterday. Glover has been pretty darn good in the early going, posting a 2.35 ERA and striking out six batters and walking only one in seven and two-thirds. That obviously a small sample size, and anything can happen. If it does, Baker has Shawn Kelley as an option.
Not many household names there, which is probably why the Nationals are reported to be interested in the White Sox’ David Robertson and Alex Colome of the Rays. That report comes from Jim Bowden of ESPN, who also notes that the A’s have a number of guys with closing experience on staff and are likely to be sellers too. The David Robertson thing may have more legs, though, given that Mike Rizzo and Rick Hahn pulled off a pretty major trade in the offseason. If you know a guy well, you call that guy first, right?
As far as problems go this isn’t a huge one. The Nats sit at 13-5 and, as expected by most prognosticators, are in first place in the National League East. The Cubs had some questions in the pen this time last year too. They had the luxury of trying to figure it out before making a massive trade for a closer. The Nats do too, and likely will. But expect them to be a part of any trade rumor conversation for the next couple of months.