Jim Crane met the media as the owner-in-waiting for the Houston Astros yesterday, and that led to a couple of glowing reviews of his business acumen and his plans for the future of the organization. It also led to a report in Forbes that says $300 million of the $680 million sales price of the team will be debt-financed.
It’s hard to place this in any kind of context because the Forbes report is thin on (actually devoid of) detail. What kind of debt is this, short or long term? Does that include the fairly standard line of credit that Major League Baseball extends all teams or is that separate? Is this secured by team property and future revenues or is it secured by, say, Jim Crane’s other businesses and/or personal property and that of the others in the ownership group? All of that matters. And, even if the report is true and the debts impinge on team assets, it’s in no case as bad as the McCourt financing of the Dodgers which represented far more than 100% of the purchase price.
But for all of the unknowns, the debt situation is worth looking into as the deal approaches closing. Recent history has shown us that team debt matters, and seeing how the Astros sale is being handled will provide us some amount of insight as to whether Major League Baseball has learned anything from recent history.
NEW YORK — With star outfielder Adam Jones nursing a tender hamstring, the Baltimore Orioles selected the contract of Julio Borbon from Double-A Bowie and optioned pitcher Mike Wright to Triple-A Norfolk.
Borbon was inserted in the starting lineup for Baltimore, batting ninth against hard-throwing New York Yankees rookie Chad Green.
“We had some other center field options,” manager Buck Showalter said. “Borbon is our best option at this point.”
Jones left Friday’s game in the second inning with a left hamstring strain. He departed the previous night’s game at Washington in the ninth inning with hamstring cramps and aggravated the injury hustling down the first base line on a soft grounder to third.
“I got a feeling that if he hadn’t had that first swinging bunt, it might not have been a problem,” Showalter indicated. “He’s not going to trot to first base as much as I talked to him about it before the game.”
Although Jones was unable to talk his way into Saturday’s lineup, Showalter speculated that he might be available to pinch-hit.
The 30-year old Borbon was 2 for 9 in five games with the Orioles earlier this season, but was designated for assignment on July 26. To create room for Borbon on the 40-man roster, pitcher Logan Ondrusek was designated for assignment on Friday.
Good news in Boston: An MRI on Red Sox outfielder Andrew Benintendi‘s left knee revealed no structural damage.
Benintendi slipped while trying to avoid a tag at second base, injuring his leg, but it appears he’s avoided a serious injury. A timetable for his return isn’t known at this point, but the Red Sox expect to get him back before the end of the season.
Benintendi is hitting .324/.365/.485 with a homer and ten RBI in 21 games.