Friday, July 22, 2011 |
McCourt Must Use MLB DIP Financing, But MLB Can't Take Over Dodgers
McCourt and his attorneys had argued that, as the debtors, the Dodgers were entitled to use their business judgment to pick the loan they preferred. That is a standard under bankruptcy law, but Gross ruled that McCourt forfeited that priority by failing to disclose he would have personally owed his lender $5.25 million by not seeking court approval of the loan.The full letter from the commissioner to McCourt denying the Fox TV deal is a hammer blow, Bud Selig swinging for the fences, and frequently connecting. It contains some doozies:
- Pages 3,4: "... the $385 million that would be accelerated as part of the Proposed Transaction far exceeds any up-front payment previously received by any other club. No other owner has sacrificed so much of his team's future for an immediate payoff. ... '[H]amstringing the business' is exactly what you are proposing...."
- Repeatedly, there was no Fox TV deal to approve, because Jamie refused to allow it.
- "I cannot approve a transaction that would allow you to extract millions upon millions more from this storied franchise."
- Frank's business projections don't include revenue sharing, the late decline in ticket sales, and diversions of funds for personal purposes.
- Frank is being audited for tax years 2006 through 2008 (footnote, page 10).
Update: Here's the judge's ruling from today's hearing. Round 2 will be about Bud v. Frank, which will be, in my estimation, the main event.
Update 2: As expected, McCourt's camp is publicly upbeat since they weren't thrown to the curb or laughed out of court, and most importantly, MLB can't reinstall a monitor in Frank's scheming.
Update 3: Josh Fisher at ESPN:
Under the terms of the existing television deal, the Dodgers cannot begin negotiating with anyone other than Fox until late 2012. That has led baseball to express concerns about the desirability of extensions of the Fox deal thus far proposed by McCourt. However, because of the club's bankruptcy, it may have the option to walk away from the Fox contract and sell the Dodgers' television rights competitively.MLB will likely oppose such treatment of an important strategic partner. While today's ruling signals Gross' willingness to curtail baseball's policies to the extent necessary to achieve bankruptcy's purposes, he may not be as willing to entertain a move with potential negative impact across the game. Make no mistake, the fight over the Dodgers' ability to sell their TV rights will be as bitter and acrimonious as any thus far. The outcome will determine how much longer the Dodgers remain under McCourt ownership.
Thursday, July 21, 2011 |
Some Missed Transactions
- Today: Trevor Bell was optioned back to AAA, with Fernando Rodney rejoining the big club. He will be available Friday in Baltimore.
- Yesterday: The Angels sent RHP Michael Kohn back to Salt Lake after giving up three homers in Tuesday's game. They recalled RHP Horacio Ramirez, which seems a bit odd given he hasn't pitched in the majors in two years.
Labels: angels, transactions
Weaver's Awesome, And What Else Is New? Angels 1, Rangers 0
Today's story — the Angels won on an unearned run, reminding me of the weird game on June 28, 2008 where he lost despite giving up no hits (the Dodgers would get none, either) — except that this time, they won. C.J. Wilson was, save for an error that allowed the winning run to cross the plate (Endy Chavez' throwing error that allowed Mike Trout to reach, and Howie Kendrick to score). Weaver's most nail-biting moment came in the sixth, when the Rangers managed to load the bases, but he finally got Mitch Moreland to strike out, ending the threat.
Is the season over? Not any more. Are the Angels still contenders? Possibly, but I'm still not quite sold. Let's see the division lead trade places down the stretch.
Labels: angels, rangers, recaps
Tuesday, July 19, 2011 |
A Word On The Coming Series
Labels: angels, predictions, rangers
Transactions, Transactions
- The Dodgers have released Marcus Thames, who cleared waivers.
- The Angels sent Hank Conger to AAA Salt Lake to make room for Tyler Chatwood (!).
Labels: angels, dodgers, transactions
Thursday, July 14, 2011 |
MLB: McCourt Would "Personally Benefit" From Current Bankruptcy Loans
Wednesday, July 13, 2011 |
MLB, AEG Working On A Downtown LA Dodger Stadium (UPDATE: Nope)
Update: Bill Shaikin tweets that AEG denies any such talks have been held.
Shocker: Rangers Outright Scott Feldman
Labels: injuries, rangers, transactions
Tuesday, July 12, 2011 |
Brewers Acquire K-Rod
Matthew Pouliot at Hardball Talk notes that because Rodriguez has a $17.5M 2012 option that vests if he gets 55 games finished this year, it is likely he will be an eighth inning man for the Brewers.
Labels: brewers, ex-angels, mets, trades, transactions
Dodgers Have Already Spent The $35M Fox Owes Them
Heath Bell Has An Awesome Idea To Improve The All-Star Game
“We were thinking the American League and National League can have different charities, and we can play for that,” Bell said. “If you’re the MVP, you get X amount of money for your own personal charity. And everyone that shows up, the money goes to that charity. It would give awareness to the charities, people would talk about it, and you’d want to play for that reason. If I was commissioner for a day, that’s what I’d do.”
Labels: all-star game
Dodgers Acquire Juan Rivera, DFA Marcus Thames
Labels: blue jays, dodgers, trades, transactions
Friday, July 08, 2011 |
Pickoff Moves
Weaver Tosses Another CG Gem: Angels 5, Mariners 1
I didn't watch this in its entirety, but Jered Weaver only really got into trouble in the third and seventh innings, giving up the opposition's only run in the third on a Brendan Ryan single. Other than that, the Angels got as much as they would need in an answering rally in the bottom of the third, posting a three spot on three hits, including a Howie Kendrick double.Unfortunately, Peter Bourjos pulled up lame at second base during an eighth inning rally, and as a consequence the Angels made a surprise move and called up Mike Trout all the way from AA Arkansas. Here I was thinking I'd have to go there to see him (and log a visit with my in-laws at the same time — not a bad thing), but he's coming to me, tonight!
Dodgers Break Five-Game Skid With Six-Run Shutout: Dodgers 6, Mets 0
The Dodgers were in danger of posting their longest losing streak of the year (and as it was, they already matched their longest with five straight), but somehow managed to get behind a strong eight-inning performance by Clayton Kershaw and beat up on the Mets' Dillon Gee, who gave up five earned runs for the first time this year.Roster Notes
- Rod Barajas, whom I missed going on the DL with a ? injury, is expected back after the All-Star break.
- The Dodgers announced Wednesday Jon Garland will have season-ending shoulder surgery, which conceivably could be career-ending as well.
Fan Falls To Death In Arlington
A terribly sad happening in Arlington as a fan fell to his death trying to catch a foul ball thrown into the stands by Josh Hamilton. Video from the game is surprisingly un-disturbing; we don't see him hit the pavement. My condolences to his family.Labels: angels, deaths, dodgers, injuries, mariners, mets, rangers, recaps, transactions
Thursday, July 07, 2011 |
All Your Baseball Are Belong To Bud: Bankruptcy Court Sides With MLB
"This is clearly, in my mind, not an appropriate occasion to turn this hearing into a trial on the commissioner," U.S. Bankruptcy Judge Kevin Gross said.
Labels: dodgers, mccourts, woo hoo
Wednesday, July 06, 2011 |
MLB Fires Back At Discovery Requests
In related Dodgers news, Sports Illustrated's Jon Heyman reports that the Dodgers won't start selling players off for another two and a half weeks if it becomes necessary.
Update: Shaikin now says McCourt tried to take out an additional $20M from the team even after payroll crisis in April. Incredible.
Bankruptcy court file now includes letter from #Dodgers fan Greg MacDonald to judge: "Please allow us to reclaim our team."Update 2: Shaikin's long-form piece at the Times Dodger blog.
Tuesday, July 05, 2011 |
Dodgers Announce $5 Reserve Level Tickets For Matt Kemp And Andre Ethier Bobblehead Giveaway Night
DODGERS ANNOUNCE 48-HOUR $5 RESERVE LEVEL TICKET SALE FOR ANDRE ETHIER BOBBLEHEAD NIGHT THIS THURSDAYIn recognition of All-Stars Matt Kemp and Clayton Kershaw, $22 Loge Level, $22 All-You-Can-Eat Right Field Pavilion and $27 Field Level seats will be also offered
LOS ANGELES – The Dodgers announced today a 48-hour $5 sale on Reserve Level tickets to this Thursday’s game (7:10 p.m. vs. NYM) featuring Andre Ethier Throwback Bobbleheads presented by San Manuel Indian Bingo & Casino. This sale is being held as Ethier competes for a chance to reach the All-Star Game in his hometown of Phoenix in the “Final Vote.”
Teammates Kemp, who will start in center field for the National League, and Kershaw have already been selected to the NL All-Star Team and in celebration, the Dodgers are offering $22 Loge Level, $22 All-You-Can-Eat Right Field Pavilion and $27 Field Level seats for Thursday’s bobblehead night.
Ethier has been among the National League’s top hitters all season long as he currently ranks seventh in the NL with a .317 batting average and has seven homers and 41 RBI. He posted a Major League season-long 30-game hitting streak earlier this season, the second-longest streak in Dodger history. Fans can vote at dodgers.com and MLB.com or for a simple text vote on behalf of Ethier, text N1 to 89269.
Dodger fans can partake in the 48-hour sale by visiting dodgers.com/ethier.
Pickoff Moves
A Fourth Of July Worth Remembering: Angels 5, Tigers 1
The Angels bid adieu happily if perhaps a bit wistfully to interleague play. They took four of six from crosstown rivals the Dodgers, though despite my misgivings and the apparent at-large misgivings of Dodger fans overall, Chavez Ravine matches still outdrew those at Angels Stadium, 127,852 to 126,021. The difference is quite small, but still says something about the durability of that contract with the fans.So, back to the American League for the balance of the season, and to the out-of-division opponent of the moment, the Detroit Tigers. The headline on this game was principally about bookended Torii Hunter and Vernon Wells solo homers (in the first and eighth innings respectively), which leads me to recalling a piece I can't now put a finger to in which Wells vowed that his post-injury numbers would be far better than his early struggles. And just so: he's hitting .264/.280/.549 since his return; while you like the slugging average, the on-base-percentage is disturbingly low, even for someone who can knock the ball over the fence. By contrast, Garret Anderson, whom I and others have slagged for his inability to take a walk, never posted an OBP under .308 as an Angel, averaging .324 for his Halo career. Still, it represents a sizable improvement for Wells to be contributing, and for now, he has postponed the day when Tony Reagins will have to walk the plank, and Arte will cut him loose as an expensive failed experiment.
(Incidentally, an alert reader noticed that the Blue Jays pulled the plug on one of the returns for Wells, designating Juan Rivera for assignment on Saturday. The move worked out pretty well for Toronto, as callup Travis Snider shattered John Lackey and the Red Sox, going 3-for-5 with two RBIs. My Sawx-loving Facebook friends are now well past disgust and into talk of DFAing Lackey, who has a grand total of four quality starts all year, out of 13 attempts. The talking heads on MLB Network's Quick Pitch program last night were saying his 7.47 ERA is in historic company in terms of pitchers being given the most rope and still coming up short. As upset as I was at the time that he was allowed to leave, the injury risk had to also be there, and I must say I'm glad someone else has to deal with that. Now, about Vernon Wells ... Rivera still has a higher OPS+. Embarrassing.)
Have I mentioned the Angels are tied for first place in the division? No?
Frank Goes After Bud: Discoveryrama!
Not too surprising, given Frank's decreasing lack of options. And who knows but that other teams are run this badly (I have always imagined it at least a possibility) but that Frank's case, being more heavily leveraged, merely came a-cropper first. I plan on pouring a nice glass of pinot grigio and enjoying the show from a distance.Roster Moves
- Casey Blake went down (neck strain) and Rafael Furcal was called up on Saturday from his latest rehab stint.
- This briefly kept Dee Gordon on the 25-man roster, but then he, too, was shipped to AAA Albuquerque to make room for Eugenio Velez.
Labels: angels, blue jays, dodgers, ex-angels, injuries, recaps, tigers, transactions
Sunday, July 03, 2011 |
Unlike McCourt, Weaver Owns The Dodgers: Angels 7, Dodgers 1
Dee Gordon got charged with two errors, both throwing, and both ended up allowing a run to score. Clayton Kershaw just couldn't catch a break on his defense, and Weaver pretty much had everything going his way. As Mat Gleason wrote after the game, Weaver did what Frank McCourt cannot: own the Dodgers.
Labels: angels, dodgers, recaps
Friday, July 01, 2011 |
Ramon Ortiz Gets A Northside Callup
Labels: cubs, ex-angels, transactions
It's All Frankruptcy, All The Time
It seems to me that two openings are possible at the end of all this: either we are stuck with Frank or we are not. In the latter case, the all but uniform desire of Dodgers fans, we are left with an unknown owner or owners, though hopefully better capitalized and more intelligent and resourceful. But in the former case, we get slow dissipation by overleverage. Too, such an outcome must necessarily come at the cost of the near-total evisceration of the Commissioner's office; what penalty could he then bring against a truly rogue owner?
I cheer, as always, for the second option, for new owners no matter their quirks, hoping against hope that the team isn't delivered into a different sort of hell.
On to the day's bullet points (I was sick yesterday):
- The Dodgers may not have bounced Manny's paycheck with the new debtor-in-possession financing, but they did bounce the paychecks of other employees. New, presumably non-rubber checks have since been issued; the blame is cast on the Chapter 11 filing, which caused the payroll funds to be locked up, but this seems a little petty. That goes double because some of the people whose payroll checks bounced were security personnel. Bryan Stow calling?
- My new favorite t-shirt and portmanteau: Frankrupt.
- Frank apparently wants to put Selig under oath, which has some interesting ramifications. While I do wonder whether Selig isn't being arbitrary about ousting Frank — remember, we know nothing about how the other 29 teams operate — if it means MLB has to ultimately be put on a sounder footing, then I'm all for it.
In a letter dated June 3 and obtained by The Times, McCourt attorney Robert Sacks wrote to an MLB attorney: "We have reason to believe that the 'monitor' and members of his staff have an interest in seeing MLB attempt to take control of the Dodgers from Mr. McCourt."
Sacks asked for immediate written confirmation that "(i) no one from MLB has spoken to the 'monitor' or any member of his staff about the possibility of any continuing role with the Dodgers; (ii) no one from MLB has spoken to the 'monitor' or any member of his staff about acquiring any interest in the Dodgers or any other MLB club; and (iii) neither the 'monitor' nor any member of his staff is receiving or will receive any compensation or benefits that is dependent in any way upon the outcome of the Commissioner's 'investigation' or their activities with respect to the Dodgers."
- Ten hearing dates were set in the Dodgers bankruptcy case; the next is July 20, with the league expected to request the revocation of McCourt's franchise before then.
- Steve Dilbeck asks, "Why is Steve Garvey still employed by the Dodgers?", and I would answer, "Because he needs the money."
- Some lessons from the McCourts at the Wall Street Journal. (I assume all of you are already smart enough not to pay a guy surnamed Shpunt $100,000+ for V-energy.)
- MSTI has a nice accumulation of McCourt sins, but this only goes so far. I plan on assisting him in this list if I can find the time to dig some.