Are the new Astros owners the latest in a long line of debt-riddled ownership groups?

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Jim Crane met the media as the owner-in-waiting for the Houston Astros yesterday, and that led to a couple of glowing reviews of his business acumen and his plans for the future of the organization. It also led to a report in Forbes that says $300 million of the $680 million sales price of the team will be debt-financed.

It’s hard to place this in any kind of context because the Forbes report is thin on (actually devoid of) detail.  What kind of debt is this, short or long term? Does that include the fairly standard line of credit that Major League Baseball extends all teams or is that separate? Is this secured by team property and future revenues or is it secured by, say, Jim Crane’s other businesses and/or personal property and that of the others in the ownership group? All of that matters. And, even if the report is true and the debts impinge on team assets, it’s in no case as bad as the McCourt financing of the Dodgers which represented far more than 100% of the purchase price.

But for all of the unknowns, the debt situation is worth looking into as the deal approaches closing.  Recent history has shown us that team debt matters, and seeing how the Astros sale is being handled will provide us some amount of insight as to whether Major League Baseball has learned anything from recent history.

Phillies’ Bryce Harper to miss start of season after elbow surgery

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PHILADELPHIA – Phillies slugger Bryce Harper will miss the start of the 2023 season after he had reconstructive right elbow surgery.

The operation was performed by Dr. Neal ElAttrache in Los Angeles.

Harper is expected to return to Philadelphia’s lineup as the designated hitter by the All-Star break. He could be back in right field by the end of the season, according to the team.

The 30-year-old Harper suffered a small ulnar collateral ligament tear in his elbow in April. He last played right field at Miami on April 16. He had a platelet-rich plasma injection in May and shifted to designated hitter.

Harper met Nov. 14 with ElAttrache, who determined the tear did not heal on its own, necessitating surgery.

Even with the elbow injury, Harper led the Phillies to their first World Series since 2009, where they lost in six games to Houston. He hit .349 with six homers and 13 RBIs in 17 postseason games.

In late June, Harper suffered a broken thumb when he was hit by a pitch and was sidelined for two months. The two-time NL MVP still hit .286 with 18 homers and 65 RBIs for the season.

Harper left Washington and signed a 13-year, $330 million contract with the Phillies in 2019. A seven-time All-Star, Harper has 285 career home runs.

With Harper out, the Phillies could use Nick Castellanos and Kyle Schwarber at designated hitter. J.T. Realmuto also could serve as the DH when he needs a break from his catching duties.