Court-appointed restructuring officer recommends the Rangers be auctioned off

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I love that this was sold as a “prepackaged” bankruptcy. If I bought something prepacked like this at the grocery store I’d take it to the manager and demand a refund. Danial Kaplan at SBD:

The Texas bankruptcy court appointed chief restructuring officer (CRO)
has decided an auction of the MLB Rangers should occur, multiple sources
tell SportsBusiness Journal . . . The sources said the CRO, William Snyder, has already informed MLB
President & COO Bob DuPuy and said league approval will not be a
criteria for deciding the best bid.

At the outset, note that this is only a recommendation. The court itself can ignore it and, instead, simply give the OK to the Rangers’ bankruptcy plan as-amended. I haven’t even close to the bankruptcy court experience to even pretend to guess at how likely it is that the court would act on the recommendation, rubber-stamp the plan, poop or go blind.

All we know for sure is that this news, combined with this morning’s information about the unsuccessful creditors being invited to next-week’s mediation, sets the stage for a rebidding if the judge agrees to go along with the recommendation.  A rebidding, Kaplan reports, that would not have “whether or not Major League Baseball likes you” as a criteria.

At which point it would be interesting to see what, if anything, Major League Baseball does about it. Because remember: MLB likes to pretend that it’s federally-created antitrust exemption allows it to accept or reject would-be team owners with impunity.  I assume that they’re not going to try and pull rank over a bankruptcy judge on this point — this sale is complicated enough already — but if they don’t, does it not put an end to the fiction that they can pick and choose new owners?

Oh well. Just another fun day in the sale that everyone insisted was a “done deal” back in January or whatever.

Padres to place Franchy Cordero on DL, activate Hunter Renfroe

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Kevin Acee of the San Diego Union-Tribune reports that the Padres will place outfielder Franchy Cordero on the 10-day disabled list and activate outfielder Hunter Renfroe from the DL on Monday.

Cordero, 23, has been slumping, batting .140 with four extra-base hits in 47 plate appearances dating back to May 11. The Padres noticed that the forearm issue has been affecting his swing in recent games. Manager Andy Green said, “It was something where he could swing a certain way to manage it. But swinging that way was not him.”

Renfroe, 26, has been out since mid-April due to inflammation in his right elbow. He hit .200/.281/.440 in 57 PA prior to landing on the disabled list. Renfroe played in 10 rehab games with Triple-A El Paso.