As expected, the creditors are objecting to the Rangers bankruptcy plan

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The first hearing was held in the Texas Rangers bankruptcy yesterday.  As I presumed might happen, the creditors to Hicks Sports Group spoke up and objected to the Greenberg-Ryan sale, insisting that baseball “fast-tracked” the team’s sale to a lower bidder and that “there’s a better bid out there.”

There will be a lot happening in the bankruptcy case because, as we established on Monday, bankruptcy is really friggin’ complicated.  The creditor’s objection, however, is the thing to watch, because it’s the thing that could derail the sale as currently constructed.

With the usual caveat of “please let me know if I’m wrong about this, bankruptcy experts,” the upshot of what is going to happen now is that the judge will hold a hearing as to whether, in fact, there is a better deal for the creditors* out there, and if he finds that there is, he will repoen the bidding, allowing in Jim Crane, Dennis Gilbert, you, me and anyone else who wants to buy the Rangers to bid again. The hearing is set for July 9th.

The inquiry about whether a better bid exists isn’t merely a price comparison however. For example, it’s quite possible that the Crane and Gilbert bids are no longer operative and Greenberg is the only game in town. It’s possible that, even if they are operative and had higher sales prices that their terms for the creditors were no better and in fact worse than Greenberg’s.

What I’m saying here is that just because we’ve heard reports that Greenberg wasn’t the high bidder doesn’t mean that the bankruptcy court will put the kibosh on this deal. Indeed, in filing this bankruptcy the Rangers — no doubt in consultation with Greenberg — knew that this analysis would likely happen and felt confident enough about their chances to go through with it.

We’ll know if this was a good gamble some time after July 9th.

*Until now all decisions on the sale have been between the Rangers, the Greenberg Group and Major League Baseball.  In the usual order of things that’s fine — they can decide to do what they want to do, and if the Rangers want to take a lower bid they can.  Once the team goes to bankruptcy court, however, the law mandates that the best interests of the creditors — and not just the best interests of the owner of the bankrupt business — reign supreme. 

A.J. Pollock may be the Dodgers’ next free agent target

A.J. Pollock
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Free agent outfielder A.J. Pollock has landed on the Dodgers’ radar, and The Athletic’s Ken Rosenthal says the two appear to be in discussions regarding a deal for 2019. Terms of any prospective deal have not been released, but interest is presumed to be fairly high as he checks two boxes on their wish list: that of a right-handed hitter and an experienced centerfielder.

Pollock, 31, rounded out a seven-year career with the Diamondbacks in 2018. While he was sidelined for nearly seven weeks after fracturing his left thumb on a dive gone wrong, he finished the season batting a hearty .257/.316/.484 with a career-best 21 home runs, 13 steals (in 15 chances), and 2.5 fWAR across 460 plate appearances. He received a $17.9 million qualifying offer from the club at the end of the year and elected to enter free agency in hopes of a better deal, which some have estimated at five years and $80 million.

So far, it’s not clear whether teams are willing to meet those terms. Pollock profiles as both a solid hitter and defender, but he hasn’t played a season in full health since 2015, which may be a deal-breaker for those in search of long-term talent. Even with that caveat, however, the Dodgers are far from the only club willing to enter negotiations with the outfielder this winter. The Braves have been linked to Pollock since December, and the Mets and Reds have expressed varying levels of interest as well.