Baseball does not want you to know about its debt crisis

12 Comments

There is an in-depth report at Forbes today about the debt crisis facing Major League Baseball that anyone who cares about the business of the game should read.

The story focuses primarily on the well-known financial problems facing the Mets and Dodgers, with a shout-out to the Tom Hicks Rangers, but it suggests that teams taking on too much debt is a widespread problem.  The trick comes via what Forbes says is owners’ circumvention of Major League Baseball’s often-cited, but rarely enforced debt ratio rules. Put your debt in a holding company like Tom Hicks did and, voila, you’re in compliance, even as you are being crushed by debt collectors.

One would think that such a charge would meet with a strong rebuke from Bud Selig, but he leaves that to his number two guy, Rob Manfred. And Manfred’s response is a bit unsettling:

“Nobody outside the game knows what was done or not done with respect to any individual club … I don’t think anyone outside the game is in a position to make a judgment as to how the debt-service rule has been administered.”

Really? No “you’re wrong,” or “baseball ownership is healthy?” Forbes comes to you and says that it’s writing a story about how teams routinely circumvent the debt ceiling rules and are doing so at tremendous risk and peril, and you’re really going with “how would you know?”

Yikes!

Ned Yost to retire as Royals manager

Getty Images
1 Comment

The Kansas City Royals just announced that Ned Yost will retire following the final game of the season. Mike Matheny will take over as the Royals manager for the 2020 season.

Yost, 65, led the Royals to victory in the 2015 World Series and to back-to-back American League pennants in 2014 and 2015. He will retire as the winningest manager in Royals history. In ten years at the helm in Kansas City he is 744-836 with five games remaining. Before he managed the Royals he managed the Milwaukee Brewers for six seasons, compiling a 457-502 record. In all, he is 1,201-1,338. When he’s done on Sunday he will finish 32nd all-time in games managed with 2,544.

The Royals now will look for the man who will, hopefully, see the current rebuild through. Multiple reporters have cited former St. Louis Cardinals manager Mike Matheny as Yost’s likely replacement. He currently serves as a special advisor in the club’s player development department. He managed the Cards from 2012-18, winning the NL pennant in 2013 and finishing with a record of 591-474 in St. Louis.

Here is the Royals official statement on Yost’s retirement: