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UPDATE: Astros deny Forbes report about team’s profit

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UPDATE: According to the Houston Chronicle, the Astros have issued the following statement denying the report from Forbes about the team’s record profit:

As MLB will confirm, the information reported in the Forbes article relating to the Astros’ revenues, the Astros’ media rights fee from CSN Houston, and CSN Houston’s per subscriber rate are all significantly inaccurate. As a result, the conclusion about the Astros’ operational profit is significantly inaccurate.

The Astros will continue to operate the team in a fiscally responsible manner that will make the City of Houston proud. We are very excited about our accomplishments and we remain steadfast in our commitment to this rebuilding process. We have established a basis of young talent on our MLB roster that will continue to improve. And our minor league system is now one of the best in MLB. As our young prospects develop, we will move them up to the Major League roster and increase our payroll to a level that will allow the Astros to compete for World Championships. The success of CSN Houston is a vital piece of that process and we continue to work toward establishing full distribution.

3:30 p.m. ET: Get a big TV contract while you’re slashing payroll in a monster rebuild that is past the “ugh, we can’t look” stage and into the “hey, moral victories are great!” stage and you’re gonna be profitable. But this is kinda nuts. From Forbes:

The Astros are on pace to rake in an estimated $99 million in operating income this season. That is nearly as much as the estimated operating income of the previous six World Series championship teams — combined.

I imagine some people will have a problem with this, arguing that Houston should up its payroll more, but really, I’m not sure why they should. They’re not a couple of highly-priced players away from contention. Why throw $20-30 million in the toilet unless it will do something meaningful on the field? They’re going to finish 30-40 games out of first place. Should they try to finish 20 games out? Will that really make fans any happier? Indeed, given the kinds of players that money would likely bring in — veterans who have used up their last chances to play for a winner — it would probably be more depressing than what the Astros have now. At least young unknowns can serve as a canvass on which fans can paint their hopes and dreams, even if that kind of painting tends to be somewhat unrealistic.

The Astros wouldn’t have such a low payroll now if their previous ownership hadn’t put off the hard work of rebuilding for so long. But this is where they are. If they are still cutting payroll and raking in profits when some additional expenditures could reasonably mean the difference between being in or out of the playoffs, fine, let’s go after them then.

Jorge Posada highlights 16 one-and-done players on Hall of Fame ballot

NEW YORK, NY - JANUARY 24:  Jorge Posada addresses the media during a press conference to announces his retirement from the New York Yankees at Yankee Stadium on January 24, 2012 in the Bronx borough of  New York City.  (Photo by Mike Stobe/Getty Images)
Mike Stobe/Getty Images
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Former Yankees catcher Jorge Posada received only 17 total votes (3.8 percent) on the 2017 Hall of Fame ballot. Unfortunately, he is one of 16 players who fell short of the five percent vote threshold and is no longer eligible on the ballot. The other players are Magglio Ordonez (three votes, 0.7 percent), Edgar Renteria (two, 0.5 percent), Jason Varitek (two, 0.5 percent), Tim Wakefield (one, 0.2 percent), Casey Blake (zero), Pat Burrell (zero), Orlando Cabrera (zero), Mike Cameron (zero), J.D. Drew (zero), Carlos Guillen (zero), Derrek Lee (zero), Melvin Mora (zero), Arthur Rhodes (zero), Freddy Sanchez (zero), and Matt Stairs (zero).

Posada, 45, helped the Yankees win four World Series championships from 1998-2000 as well as 2009. He made the American League All-Star team five times, won five Silver Sluggers, and had a top-three AL MVP Award finish. Posada also hit 20 or more homers in eight seasons, finished with a career adjusted OPS (a.k.a. OPS+) of 121, and accrued 42.7 Wins Above Replacement in his 17-year career according to Baseball Reference.

While Posada’s OPS+ and WAR are lacking compared to other Hall of Famers — he was 18th of 34 eligible players in JAWS, Jay Jaffe’s WAR-based Hall of Fame metric — catchers simply have not put up the same kind of numbers that players at other positions have. That’s likely because catching is such a physically demanding position and often results in injuries and shortened careers. It is, perhaps, not an adjustment voters have thought to make when considering Posada’s eligibility.

Furthermore, Posada’s quick ouster is somewhat due to the crowded ballot. Most voters had a hard time figuring out which 10 players to vote for. Had Posada been on the ballot in a different era, writers likely would have found it easier to justify voting for him.

Posada joins Kenny Lofton in the “unjustly one-and-done” group.

Tim Raines, Jeff Bagwell, Ivan Rodriguez Elected to the Hall of Fame

1990:  Outfielder Tim Raines of the Montreal Expos in action. Mandatory Credit: Otto Greule  /Allsport
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The 2017 induction class of the Baseball Hall of Fame was announced Wednesday evening and we have three inductees: Tim Raines, Jeff Bagwell and Ivan Rodriguez. Raines and Bagwell had to wait a good long while to get the call. Rodriguez is in on his first year of eligibility. But nowhere on the plaque will it say how long it took. All that matters now is that three of the greatest players of their respective generations finally have a place in Cooperstown.

Players must be named on 75% of the Baseball Writers Association of America’s ballots to get in. Raines was named on 86% of the ballots. Bagwell was named on 86.2%. Rodriguez was named on 76%. Non-inductees with significant vote totals include Trevor Hoffman at 74% and Vladimir Guerrero at  71.7%. The full results can be seen here.

Others not making the cut but still alive for next year, with vote totals in parenthesis: Edgar Martinez (58.6); Roger Clemens (54.1); Barry Bonds (53.8); Mike Mussina (51.8); Curt Schilling (45.0); Manny Ramirez (23.8); Larry Walker (21.9); Fred McGriff (21.7); Jeff Kent (16.7); Gary Sheffield (13.3%); Billy Wagner (10.2); and Sammy Sosa (8.6). Making his final appearance on the ballot was Lee Smith, who received 34.2% of the vote in his last year of eligibility. He will now be the business of the Veterans Committee.

Players who fell off the ballot due to not having the requisite 5% to stay on: Jorge Posada; Magglio Ordoñez; Edgar Renteria; Jason Varitek; Tim Wakefield; Casey Blake; Pat Burrell; Orlando Cabrera; Mike Cameron; J.D. Drew; Carlos Guillen; Derrek Lee; Melvin Mora; Arthur Rhodes; Freddy Sanchez; and Matt Stairs

We’ll have continued updates on today’s Hall of Fame vote throughout the evening and in the coming days. In the meantime, congratulations to this year’s inductees, Tim Raines, Jeff Bagwell and Ivan Rodriguez!