File photo of Los Angeles Dodgers owner Frank McCourt speaking at a news conference about increased security at Dodger Stadium in Los Angeles

Big surprise: Frank McCourt to keep the Dodgers running with a crappy loan


Frank McCourt, who knows from crappy loans, received one for $150 million in order to meet payroll on the 30th and to keep the team running while the bankruptcy proceeds through its paces, reports the Wall Street Journal.  Some basic questions you may have, followed by the best answer I have (again, bankruptcy types, feel free to correct me if I’m wrong):

First question: How in the hell did Frank McCourt get a loan? I thought he was tapped out!

Answer: It’s a special bankruptcy loan for debtors in possession. These things happen frequently. The moment the bankruptcy goes down, the lender of such a beast goes to the front of the line for payment. It would not have been available before a filing, as a lender would then be behind all of the other creditors. The idea: better to favor a post-bankruptcy lender than to have no one get paid.

Second question: What makes this a crappy loan?

Answer: The interest rate for starters, which at 10% is higher than your usual debtor-in-possession financing. Even Borders bookstore, which is basically in a dying industry, got a better deal. Also the fact that McCourt had to pay the lender a $4.5 million fee on top of it all. Also because McCourt had to put a lien on Dodger Stadium and offer personal guarantees on the load too.

Third question: Why such bad terms?

Answer: Apparently because no one else would lend him the money, preferential treatment aside.  According to the Wall Street Journal, a J.P. Morgan-affiliated hedge fund — Highbridge Principal Strategies — was the only entity willing to do business with Mr. McCourt. Maybe next time he should call Moneytree, where lenders compete for your business!

What? You mean he called Moneytree already?  And they pretended they weren’t home?  Awwwkwaaard.

Shawn Tolleson becomes a free agent

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The Rangers outrighted reliever Shawn Tolleson off the 40-man roster on Wednesday. Rather than accept the assignment to Triple-A Round Rock, Tolleson has opted to become a free agent, Rangers executive VP of communications John Blake reports.

Tolleson, 28, emerged as a closer for the Rangers in 2015, but his follow-up campaign this year was dreadful. He finished with a 7.68 ERA and a 29/10 K/BB ratio in 36 1/3 innings. He eventually went on the 60-day disabled list with a back injury.

Despite the nightmarish season, it’s easy to see a team deciding to take a flier on Tolleson for the 2017 season.

Indians strongly considering starting Carlos Santana in left field sans DH

TORONTO, ON - OCTOBER 19:  Carlos Santana #41 of the Cleveland Indians celebrates after hitting a solo home run in the third inning against Marco Estrada #25 of the Toronto Blue Jays during game five of the American League Championship Series at Rogers Centre on October 19, 2016 in Toronto, Canada.  (Photo by Elsa/Getty Images)
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Indians slugger Carlos Santana hasn’t played in the outfield in a major league game since 2012, but the Indians are strongly considering starting him in left field for Game 3 of the World Series at Wrigley Field on Friday,’s Jordan Bastian reports. As the game is hosted in a National League park, there is no DH rule in effect, so the Indians might otherwise have to keep Santana on the bench.

Santana is hitless in six at-bats in the World Series thus far, but he has drawn two walks. He has overall not had a great postseason, carrying an aggregate .564 OPS in 40 plate appearances since the beginning of the playoffs. Still, during the regular season, he had an .865 OPS so he can certainly be a threat on offense at any given moment.