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The Dodgers sale is being financed by people’s insurance money. Is this a problem?

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Over at the New York Times’ Deal Book blog, Andrew Ross Sorkin notes that the sale of the Dodgers to the group led by Magic Johnson — but really controlled by Guggenheim Partners’ Mark Walter — is being financed with insurance policy dough:

In addition to their own cash, Mr. Walter plans to use money from Guggenheim subsidiaries that are insurance companies — some state-regulated — to pay for a big chunk of his purchase of the Dodgers. Guggenheim controls Guggenheim Life, a life insurer, and Security Benefit, which manages some $30 billion, among others.

Using insurance money — which is typically supposed to be invested in simple, safe assets — to buy a baseball team, the ultimate toy for the ultrarich, seems like a lawsuit waiting to happen.

Sorkin explains that this is especially problematic given what seemed to be a significant overpay for the team and given that Walter has said that he’s not too concerned about immediate profitability. What of the fiduciary duties to the policy holders, he wonders.

While Sorkin seems pretty alarmed by this, he later makes mention of the fact that long-term holdings are not unheard of for insurance-backed investments.  And this is where I think the alarm should stop. Remember: the Dodgers nearly quintupled in value during the McCourt years, despite historic mismanagement by Frank McCourt.

While I appreciate that there is a bubble element to elevating franchise values in any given short period of time, sports teams have proven to be a safer investment than just about anything over the past, well, forever.  It’s like a license to print money.

Orioles re-sign Michael Bourn to a minor league deal

TORONTO, ON - OCTOBER 04:  Michael Bourn #1 of the Baltimore Orioles hits a single in the fifth inning against the Toronto Blue Jays during the American League Wild Card game at Rogers Centre on October 4, 2016 in Toronto, Canada.  (Photo by Tom Szczerbowski/Getty Images)
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The Orioles have re-signed outfielder Michael Bourn to a minor league contract with an invitation to major league camp, MASN’s Roch Kubatko reports.

Bourn, 34, joined the Orioles last year in a trade from the Diamondbacks on August 31. Though he compiled a meager .669 OPS with the Diamondbacks, Bourn hit a solid .283/.358/.435 in 55 plate appearances with the O’s through the end of the season.

Bourn, a non-roster invitee to camp, will try to play his way onto the Orioles’ 25-man roster. If he does make the roster, Bourn will receive a $2 million salary, Jon Heyman of FanRag Sports points out.

Shelby Miller is in the best mental shape of his life

PITTSBURGH, PA - MAY 24:  Shelby Miller #26 of the Arizona Diamondbacks pitches in the first inning during the game against the Pittsburgh Pirates at PNC Park on May 24, 2016 in Pittsburgh, Pennsylvania.  (Photo by Justin K. Aller/Getty Images)
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Diamondbacks starter Shelby Miller had about as bad a season as one can have. He was the headliner in the trade that sent 2015 No. 1 overall pick Dansby Swanson, All-Star outfielder Ender Inciarte, and highly-regarded pitching prospect Aaron Blair to the Braves. It was a trade that was pilloried at the time and continues to be pilloried to this day.

Miller didn’t do then-GM Dave Stewart any favors with his 2016 performance. He went 3-12 with a 6.15 ERA and a 70/42 K/BB ratio over 101 innings. That included a bout with mechanical failure, as he kept hitting the mound with his follow-through. He went on the disabled list. And after that, he was demoted to Triple-A. After getting fired, Stewart expressed remorse over acquiring Miller — or, more accurately, giving up Swanson to do so.

So, the 26-year-old Miller heads into 2017 without any momentum. To his credit, though, he’s going into the new season with a very positive perspective. Via Ken Rosenthal of FOX Sports:

I’m just in a really happy place, away from the field, on the field. […]

Maybe it’s just the way I go about everything, trying to be positive in every single aspect of life. Baseball’s not perfect. I’m not perfect. I know bumps in the road are going to happen. Last year was obviously not just a bump, but a huge mountain. Right now, that’s completely behind me. I’m not worried about any of that.

I’m really ready for this year, ready to redeem myself so much.

Even pitching coach Mike Butcher sees the change in Miller’s mentality. “He’s not a different guy. But you can see there’s a presence in him. That’s what we need. Just be Shelby Miller. You don’t have to live up to anything. Just be yourself.”

Manager Torey Lovullo, too, praised Miller. “I saw a guy who had spent a lot of time taking care of his business in the weight room — he looks fantastic, in fantastic shape,” he said.

It sounds like Miller is not only in great mental shape, but great physical shape, too. Is it the “best shape of his life”? Only time can tell.