Angels to buy their stadium, parking lot from the city of Anaheim

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For a couple of years now the Angels and the City of Anaheim have been in talks about Angel Stadium and where the team will play when its lease (and its various extensions and options and whatever) finally expire.

Most of these negotiations have seemed to be amicable. An election changed the dynamic of the talks once, shifting things from a generally pro-team administration to a “hey, if you wanna move, you can move” administration. And on a couple of occasions the Angels have bluffed about moving to, say, Long Beach or the Inland Empire or something. But even if there has never been a sense that the local government was going to build the Angels a new ballpark or foot the bill for massive renovations to the existing one, there has likewise never been a sense that the Angels were seriously entertaining leaving Anaheim.

And now they aren’t. Bill Shaikin from the Los Angeles Times reports:

The Angels and the city agreed Wednesday on a deal under which a company affiliated with Angels owner Arte Moreno would buy Angel Stadium and the surrounding property for $325 million. The city would not contribute to the cost of either renovating the stadium or building a new one, and the Angels would decide whether to upgrade or replace the current stadium.

Under the deal, the Angels are committed to playing in Anaheim through 2050, with options that could keep them there through 2065.

As we’ve noted here many, many times in the past, Major League Baseball teams are increasingly in the real estate business. The Angels — or, at the very least, their owner — is now part of that club, with an eye toward a new or renovated ballpark and, more importantly, a large chunk of California real estate surrounding it in order to realize additional revenue streams.

Revenue streams, it should be added, that players aren’t going to get a cut of in all likelihood. Sure, Arte Moreno has made millions and millions on the Angels, he is now using some of those millions to buy his ballpark and the land around it, and he will make millions off of that land from people who are coming there to either see a baseball game or live near a baseball stadium, but those future millions will be classified as non-baseball revenue.

It’s a pretty sweet operation if you happen to own a baseball team.

 

Texas Rangers ink free-agent ace Jacob deGrom to 5-year deal

Jacob deGrom
USA Today
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ARLINGTON, Texas — Jacob deGrom is headed to the free-spending Texas Rangers, who believe the health risk is worth the potential reward in trying to end a six-year run of losing.

The two-time Cy Young Award winner agreed to a $185 million, five-year contract Friday, leaving the New York Mets after nine seasons – the past two shortened substantially by injuries.

“We acknowledge the risk, but we also acknowledge that in order to get great players, there is a risk and a cost associated with that,” Rangers general manager Chris Young said. “And one we feel like is worth taking with a player of Jacob’s caliber.”

Texas announced the signing after the 34-year-old deGrom passed his physical. A person with direct knowledge of the deal disclosed the financial terms to The Associated Press. The person spoke on condition of anonymity because the club did not announce those details.

The Rangers were also big spenders in free agency last offseason, signing shortstop Corey Seager ($325 million, 10 years) and second baseman Marcus Semien ($175 million, seven years).

The team said deGrom will be introduced in a news conference at Globe Life Field next week following the winter meetings in San Diego.

“It fits in so many ways in terms of what we need,” Young said. “He’s a tremendous person. I have a number of close friends and teammates who played with Jacob and love him. I think he’s going to be just a perfect fit for our clubhouse and our fans.”

Texas had modest expectations after adding Seager, Semien and starter Jon Gray ($56 million, four years) last offseason but still fell short of them.

The Rangers went 68-94, firing manager Chris Woodward during the season, and then hired Bruce Bochy, a three-time World Series champion with San Francisco. Texas’ six straight losing seasons are its worst skid since the franchise moved from Washington in 1972.

Rangers owner Ray Davis said the club wouldn’t hesitate to keep adding payroll. Including the $19.65 million qualifying offer accepted by Martin Perez, the team’s best pitcher last season, the Rangers have spent nearly $761 million in free agency over the past year.

“I hate losing, but I think there’s one person in our organization who hates losing worse than me, and I think it’s Ray Davis,” Young said. “He’s tired of losing. I’m tired of losing. Our organization is tired of losing.”

After making his first start in early August last season, deGrom went 5-4 with a 3.08 ERA in 11 outings. He helped the Mets reach the playoffs, then passed up a $30.5 million salary for 2023 and opted out of his contract to become a free agent for the first time.

That ended his deal with the Mets at $107 million over four years, and deGrom rejected their $19.65 million qualifying offer in November. New York will receive draft-pick compensation for losing him.

The fan favorite becomes the latest in a long line of ace pitchers to leave the Mets for one reason or another, including Nolan Ryan, Tom Seaver, Dwight Gooden and David Cone.

The Rangers visit Citi Field from Aug. 28-30.

When healthy, deGrom is perhaps baseball’s most dominant pitcher. His 2.52 career ERA ranks third in the expansion era (since 1961) behind Los Angeles Dodgers lefty Clayton Kershaw (2.48) and Hall of Famer Sandy Koufax (2.19) among those with at least 200 starts.

The right-hander is 4-1 with a 2.90 ERA in five career postseason starts, including a win over San Diego in the wild-card round this year that extended the Mets’ season. New York was eliminated the next night.

A four-time All-Star and the 2014 NL Rookie of the Year, deGrom was a ninth-round draft pick by the Mets in 2010 out of Stetson, where he played shortstop before moving to the mound. He was slowed by Tommy John surgery early in his career and didn’t reach the majors until age 26.

Once he arrived, though, he blossomed. He helped the Mets reach the 2015 World Series and earn a 2016 playoff berth before winning consecutive NL Cy Young Awards in 2018 and 2019.

But injuries to his elbow, forearm and shoulder blade have limited him to 26 starts over the past two seasons. He compiled a career-low 1.08 ERA over 92 innings in 2021, but did not pitch after July 7 that year because of arm trouble.

DeGrom is 82-57 with 1,607 strikeouts in 1,326 innings over nine big league seasons. He gets $30 million next year, $40 million in 2024 and 2025, $38 million in 2026 and $37 million in 2027. The deal includes a conditional option for 2028 with no guaranteed money.

The addition of deGrom gives the Rangers three proven starters along with Gray and Perez, who went 12-8 with a career-best 2.89 ERA in his return to the team that signed him as a teenager out of Venezuela. Young didn’t rule out the addition of another starter.

With several holes on their starting staff, the Mets have shown interest in free agents Justin Verlander and Carlos Rodon to pair with 38-year-old Max Scherzer atop the rotation.

Now, with deGrom gone, signing one of those two could become a much bigger priority.