UTK Special 6/15/20
Incidents and Accidents, Hints and Allegations
In light of the war of press releases and leaks between MLB owners and the MLB Players Association, with Rob Manfred looking like he’s lost control of pretty much everything he’s supposed to control, is there a chance this is good for baseball?
Surprisingly yes and from multiple directions. A couple days ago, I was speaking with a longtime MLB insider - sorry, can’t be more specific - who said it reminded him of 1992. At the time, I couldn’t place the year referenced and just kind of jotted a note. I couldn’t figure out the reference and sent a quick email asking “why 92?”
His quick response was “google Fay Vincent.”
Vincent had come into baseball as an elevated second and proved himself a poor first chair. That’s essentially the same as Rob Manfred, though Manfred was with baseball far longer and was specifically chosen and groomed for the job with widespread approval. So what made my contact think that ‘92 was a good comparison?
“History repeats itself.”
Sometimes a source says something cryptic and they’re just having fun. Sometimes, they’re really pointing you in a direction. There’s a couple directions this led.
First, we need to frame the discussion of the owners. As Manfred gets ready to create a shortened season and a very shortened “summer training” as it’s being referenced, showing a complete lack of marketing skills, the owners have made it clear that with $2b in national TV revenue, they’re not losing money. What they’re not willing to do is lose that cash machine, the private enterprise with no open books that they can do with what they will. For some owners, it’s a toy and for others, its a lifeline that right now is dry due to the lack of cash flow. Normally, they could take their cut of everything happening, right down to the hot dog. Instead, their one method of getting cash now is the final, but biggest - a sale.
Which brings us to point two - at least four teams are in active sale mode. The Mets have been this way for a while, with the 76ers/Devils group in the lead there with a few others still nibbling around. The other teams are more quiet. The one we know is the White Sox; they have an owner who’s acknowledged his family will need to sell, but would like to hold on while Jerry Reinsdorf is still kicking. They’ve had discussions over the years with new limited partners in hopes of finding a situation like the Baltimore Ravens, with a slow transition.
The other teams are less clear and no team is going to comment on something like this on record. Clubs that have been sold recently, have strong and rich ownership, or that have already made a family transfer seem unlikely, which leaves us either with a disgruntled group who sees a chance of their investment turning down or slowing growth, or of those who face a difficult transition in the near term. That feels like Pittsburgh, Arizona, and perhaps Colorado, but I will admit I’m speculating about the specifics. I’m pretty solid on that at least four teams are open to a sale and have a book ready.
All MLB sales, both public and private*, have gone through Allen & Co for as long as I can remember, and more specifically through Steve Greenberg. Long a power broker in sports finance, Greenberg’s baseball connection couldn’t be stronger - he’s the son of Hammerin’ Hank himself.
Which brings us back to ‘92 again, when Steve Greenberg was the deputy commissioner of baseball under Fay Vincent. Vincent had brought him in when he took the commissionership and they left together, nudged out by Bud Selig.
There’s no Bud Selig in the game today, which is a sentence that reads a lot of ways. There’s no one close, which I’ll note is a compliment to Selig. As much as we complained about any time Selig took the lectern, it’s impossible to imagine any current owner doing that job. Seriously - watch the video above and tell me which owner baseball could put up there for that discussion. Moreno? Jeter?
Which leads me back to Steve Greenberg. Baseball needs a dealmaker and if enough owners are in a ‘92 mood, would they force out Manfred and put in the guy that’s stayed close to the game his entire life, making deal after deal even after he was pushed aside?
I don’t know, but I know that over the next six months and specifically if this season ends up a disaster for baseball and for owners in specific, Manfred is gone. Unmourned by both sides, Manfred’s replacement will have a chance to be the white knight, the dealmaker, and there might be no one better than Greenberg who would be willing to take the position, especially if he’s allowed to staff the office and bring in his own replacement.
I’m not sure if ‘92 was a great year for baseball but given how 2020 has gone so far, I think fans, players, and owners, would be up for a rerun.
* I might be using this term incorrectly. Public sales are the major ones where a team is sold, a la the Wilpons selling the Mets to someone. Private is the almost publicly unreported limited partnership stakes that trade far more often, but hardly regularly. Finding a listing of those limited partners is near impossible, let alone a current one.