The Rangers sale is a "trainwreck"

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That’s the viewpoint of someone associated with the group of creditors meeting with prospective Rangers’ owners Chuck Greenberg and Nolan Ryan in New York tomorrow in an attempt to iron out their differences regarding the team’s sale. It’s an ominous sign with respect to something that everyone is assuming is a done deal.

As you’ll recall, the creditors are led by a hedge fund called Monarch Alternative Capital, which bought up a bunch of Hicks Sports’ Group’s debt when it nearly defaulted on its obligations last summer.  The creditors have to sign off on the tentative agreement between Hicks and Greenberg/Ryan, and from the sound of it, they don’t have a huge incentive to do so.  According to the article:

The key issues, the sources said, are that while the sale has an
announced price of $570M, there is only $390M of cash changing hands,
with the difference assumed liabilities. And of that the banks would
only get $250M, sources said. Before they get paid, according to the
deal, Hicks would be paid for the real estate around the ballpark, MLB
must be paid for loans it forwarded the team, and Rangers investment
bankers, Merrill Lynch and Raine get paid too.

That’s right: Tom Hicks has helped broker a deal in which he personally gets paid before the people from whom his spendthrift ownership group had to borrow in order to make ends meet last year. And of course, Hicks himself is part of the new ownership group too. The result: an angry group of creditors is worried that they’re going to only get pennies on the dollar — “We will be better off in bankruptcy court,” a source says — and may very well tell Greenberg, Ryan and Hicks to go back to the drawing board. If that happens, you have to figure that Jim Crane and Dennis Gilbert, who were reported to have better bids than Greenberg — would come back into play.

In December I reported that there were people around Major League Baseball who were worried about this deal coming together.  Those worries were brushed off at the time.  Based on what we’re hearing today, I have this feeling that they’re back.

Video: Edwin Encarnación grounds into 5-4-3 triple play

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The Yankees threatened early against the Twins in the top of the first inning of Monday night’s game in Minnesota. DJ LeMahieu and Aaron Judge drew leadoff walks Martín Pérez, bringing up slugger Edwin Encarnación. Encarnación battled Pérez, ultimately rolling over on the ninth pitch, a change-up. Third baseman Luis Arraez gobbled it up and stepped on the third base bag, then fired to Jonathan Schoop at second base for the second out. Schoop got the ball over to Miguel Sanó at first base just in time to complete the 5-4-3 triple play.

It’s the second triple play turned this year, as the White Sox also accomplished a 5-4-3 double play on May 22 against the Astros. The Twins’ last triple play occurred on June 1, 2017 against the Angels, also a 5-4-3 triple-killing.

The Yankees were eventually able to generate some offense in the third inning on a Gio Urshela solo homer and an RBI single from Encarnación. It’s a 2-2 game as this gets published.