Friday, July 23, 2010

A GLOVE OF THEIR OWN


By Diane M. Grassi







“The future ain’t what it used to be.”
– Yogi Berra

The recession of 2008, long documented as the worst economic crisis since the Great Depression, has impacted not only Wall Street and the American pocketbook, but the American psyche.

As such, there has been a symptomatic withdrawal not only by the American consumer, but by the American family and thus, by extension, the American neighborhood. And such has left many communities unengaged and in a state of bewilderment, with others steeped within the depths of despair.

It is in such times of crisis that the national fabric becomes torn and many feel displaced and disconnected. Yet, there remain some select individuals who take it upon themselves to offer hope, in helping to present a new paradigm for a collective morale boost, by uniting families with neighborhoods, and in helping to reconnect those neighborhoods with their respective communities; revisiting those values once identified as the essence of the American spirit.

And in that effort, a unique “movement” is evolving by way of a New Jersey father, most proud of his two children, and outwardly dedicated to reaching out to all children, in order that they too may continue to pass on the once held dear concept of “giving back”, as they become adults and raise children of their own. And Salomon and his wife do no less with their own two youngsters.

Bob Salomon is a name you will be hearing about. He is using the concept of children participating in sports as the vehicle to communicate his all encompassing goal of giving back. His first effort has evolved through the game of baseball. More specifically, the illustrated children’s book, A Glove of Their Own, published in November 2008, has caught fire and is the centerpiece of Salomon’s main vision.

The story is about a group of youngsters playing a pick-up game of baseball on a local neighborhood lot. Unfortunately, not all have bats and gloves to properly play the game. But a retired gentleman comes across them playing, only to return another day with a duffle bag filled with used gloves, bats and balls from games gone by, used by his own children. He then donates them all to the group of children. It but sets a good example for the children and serves to inspire them to keep on playing the game they love.

As a direct result of brainstorming with two friends, the eventual co-authors of A Glove of Their Own,
Debbie Moldovan, Keri Conkling and Lisa Funari-Willever, Salomon was presented a written story, and later beautifully illustrated by Lauren Lambiase and published by Franklin Mason Press.

But it was Salomon’s tenacity that convinced Funari-Willever, also Franklin Mason’s publisher, to see his project through, assuring her that she would not regret her involvement. Funari-Willever, herself, has dedicated much of her life to giving back and was the main force behind Salomon’s now realized proposition.

The end result of this collaborative effort was not just that of publishing a nice children’s story, but an extended benefit from it arose. It would serve as an example for children to be forthright, unselfish, giving and grateful. But equally important to Salomon, is that children are reminded to have fun while playing the game of baseball, and all sports, and to point out that just being a kid is okay, too.

Yet, it was only through A Glove of Their Own that Salomon realized his deep-felt obligation to become a facilitator of charitable efforts, not only by continuing to publish children’s sports stories, but by reaching out to a variety of organizations and media entities as well.

The intent is to pique the interest of professional athletes, professional sports franchises, sports-affiliated businesses, community invested corporations, and non-profit agencies, amongst others. And Salomon hopes to meld various partnerships to approach communities. These communities would then become their own facilitators with the intended goal of encouraging children’s participation in extra-curricular organized sports, funded by a combination of various entities and manifesting fundraisers nationwide.

However, the underlying theme, which Salomon insists must remain, is that professional athletes, both active and now retired, start making more of an investment in their local communities in which they play or in which they reside.

And it would behoove these professional athletes, and those now retired from professional play, to become involved on their own accord, rather than, for example, through a required clause in their playing contracts to perform volunteer work, which many Major League Baseball (MLB), National Football League (NFL), National Basketball Association (NBA) and National Hockey League (NHL) professional teams now require as part of player negotiated deals.

Charity is but a gift and giving back should ultimately come from the heart. And Salomon truly believes that children will see through those athletes who are merely going through the motions, thereby not setting a good example for them. He wants to work with those who are dedicated in their intent to reach out to the children in the community, and simply because it is the right thing to do, rather than to garner accolades for themselves.

At such a time when discretionary income is dangerously low nationwide, it is imperative that municipalities, local communities, schools and neighborhoods alike, come together in innovative ways to mobilize future generations to continue to thrive; to return the favors bestowed upon them by enjoining the public with the private sector to a positive end.

Salomon has duly impressed many already in the private sector such as Rich Lampmann, Director of Promotions and Public Relations of Modell’s Sporting Goods. “The memories of the pick-up games in the yard or at the field, stick with us for a lifetime. Bob and his team have taken this a step further and are not only promoting the game…but also using the games as a means of spreading sportsmanship and teamwork for the greater good.”

And Rick Redman, Vice President of Corporate Communications for the Louisville Slugger Museum and Factory notes, “It’s a wonderful story that everyone can learn from; kids and adults. Plus, it’s tied to many great causes and provides the chance to donate funds to your favorite baseball charity. How could we say no to Bob Salomon? He has a drive and passion that’s unmatched.”

There also are many retired athletes who have leant their support to A Glove of Their Own such as former MLB players Craig Biggio, Bernie Williams, Sean Casey, Jason Grilli, Tommy John, Roy White, Phil Niekro, Bud Harrelson, current Los Angeles Dodgers manager, Joe Torre, former Yankee great Yogi Berra and the Yogi Berra Museum and Learning Center, and many others.

And Bob Salomon hopes to collaborate with active MLB players such as Joe Mauer, starting catcher for the Minnesota Twins, and Nick Swisher, the right fielder for the New York Yankees. Both players are dedicated philanthropists in their own right, making giving back through charity a priority in their lives off the field. And there are a bevy of many well intentioned athletes in the NFL, NBA and NHL who Salomon continually reaches out to in hopes of being afforded the opportunity to meet with them on future charitable endeavors.

Salomon is also involved in a collaborative effort with former MLB pitcher, Tommy John, as a producer of a film documentary. It will feature John’s life and center on the now worldwide famous Tommy John Surgery now considered the state-of-the-art corrective surgical procedure for injured elbows, based upon John’s own surgery decades ago. It not only saved John’s career but has extended the careers of countless other players, not only in MLB, but throughout professional and amateur sports.

Those wishing to learn more about A Glove of Their Own can visit its website,
agloveoftheirown.com where
one can learn more about all of its affiliated organizations, including corporations, broadcast media outlets, non-profit agencies and other athletes and celebrities touched by the spirit of giving.

And Salomon also wants to ensure that individuals can play a participatory role in whatever way they choose, in order to give back. It does not necessarily have to be on a grand scale or with relationship to an agency or corporate interest, either. Any small acts of kindness and involvement in neighborhoods and communities is the intent of Salomon’s purpose. Or folks may choose to go the route of purchasing copies of A Glove of Their Own and rallying others to participate in that way as well.

As such, books may be purchased through either
agloveoftheirown.com or through franklinmasonpress.com. Franklin Mason Press donates $.10 from the sale of each book to the following organizations: Good Sports, Sports Gift, and Pitch in for Baseball. In addition, $3.00 per sold book will be given to any school or non-profit organization that joins Salomon’s effort.

His immediate next project is to publish a children’s book involving football as the theme, this time. But again, his effort is far more than a hyped up version of pay it forward, and rather a rallying cry to nurture our children. In doing so, we will all be better human beings for it will serve to enrich the quality of all of our lives, both locally and nationally, for decades to come. And that should be a priority for all of us.

“Success is not the place one arrives, but rather the spirit with which one undertakes and continues the journey.” – Alex Noble



Copyright ©2010 Diane M. Grassi


All right reserved.


Contact: dgrassi@cox.net

MLB'S Gaming Sale of Texas Rangers Continues


By Diane M. Grassi

“If an alternative process is established, we’re going to be guided by the court’s procedures, subject to of course, our ultimate right to approve any owner submitted to us.”
– MLB Commissioner, Bud Selig – July 12, 2010

As this reporter documented here in May 2010, the still impending sale of Major League Baseball’s (MLB) Texas Rangers has suffered no shortage of legal and financial machinations and maneuvers, including political manipulation, for many, many months. Yet, it has been nearly a year and a half since Texas Rangers owner, Tom Hicks, defaulted on a $525 million loan in March 2009, eventually ending up in bankruptcy.

Unfortunately to date, the sale of the Rangers still awaits finalization and most importantly, the investment group to be awarded the final sale of the club has yet to be determined by the U.S. Bankruptcy Court and ultimately to be approved by MLB and its respective owners.

But Mr. Selig’s above referenced recent quote indicates that despite the length of time and resources expended by the U.S. Bankruptcy Court, and the hundreds of millions of dollars at stake for the Rangers’ numerous creditors, Bud Selig will fight all obstacles in securing the group he sees fit to own and run the Texas Rangers; namely the Greenberg-Ryan Group. It is comprised of Pittsburgh sports attorney, Chuck Greenberg and present Texas Rangers president and minor league team owner, Nolan Ryan and their entity, Rangers Baseball Express, LLC.

It unfortunately takes far more than a good score keeper to not only understand but to keep track of all of the twists and turns in this case, Texas Rangers Baseball Partners, 1043400, U.S. Bankruptcy Court, Northern District of Texas, (Fort Worth), even since May 2010.

The upshot is that there will be an auction in U.S. Bankruptcy Court on August 4, 2010. However, prior to that date on July 22, 2010, the Rangers shall emerge from Chapter 11 Bankruptcy Protection, initiated on May 24, 2010. At that hearing, U.S. Bankruptcy Court Judge D. Michael Lynn will hold the Ranger’s reorganization confirmation hearing.

Additionally, Judge Lynn will hear complaints on July 20, 2010, regarding new auction rules for the August 4th date. It concerns creditors’ issues primarily due to MLB’s acceptance of the lowest of the three bids previously offered for the Rangers, and its clear preference to award the club to Greenberg-Ryan.

The two previous higher bids were from former sports agent, Dennis Gilbert in collaboration with Dallas businessman, Jeff Beck and the other came from Houston businessman, Jim Crane.

Crane, whose bid was the highest, backed through lender, J.P. Morgan Chase & Co., previously filed a motion with the U.S. Bankruptcy Court stating that MLB deliberately blocked his negotiations with the Texas Rangers. In fact, Selig wrote an April 30, 2010 letter to J. P. Morgan Chase & Co. in response to that motion, reiterating his “best interests of baseball” motives, in his attempt to diffuse the matter; albeit unsuccessfully.

And since creditors are owed approximately $576 million on first and second-lien debt, that includes interest, by Tom Hicks’ HSG Sports Group, LLC, they want every opportunity to be given the best chance to recoup their losses.

However, an 11th hour wrinkle has also emerged, which perhaps may be the best resolution of all; according to various financial experts, legal representatives, sports industry analysts and many involved with some business facet of MLB.

And that magic bullet would be none other than Dallas Mavericks owner, Mark Cuban. Cuban made a bid for the Chicago Cubs three years ago, when it was up for sale by the Tribune Co. At that time speculation surfaced that Cuban’s brash outspokenness and aggressive management style would clash with that of MLB’s.

It seems pretty ironic now, given that a former MLB owner, one George M. Steinbrenner, who was eulogized this past week, was but praised for having some of those very same qualities, which Cuban seems to also behold.

Mark Cuban’s recent interest in the past couple of weeks in the Texas Rangers is especially intriguing in that he may have interest in placing his own bid before the August 3, 2010 deadline for acceptance of bids for the August 4th auction.

Or, Cuban may ask to become just one of the investors of a group, by supplementing the capital of one of the other investment group’s bid, since the new auction guidelines require that to qualify a bid must now clear the Greenberg-Ryan bid by $20 million.

Cuban recently stated, “With some of the court rulings, it’s changed the economics of everything…I wanted to make sure that I was at the table, just in case.…I’m hoping I’m more of a backstop than anything else.”

It would be hard to believe that Mark Cuban would want to be anyone’s backstop, no more so than would George Steinbrenner.

But one thing is more certain in this whole messy scenario as concerns the sale of the Texas Rangers and that is that there will be no lack of drama and last minute antics by all parties involved; especially given Cuban’s entry into the fray and just under the wire.

And if U.S. Bankruptcy Judge Lynn still has anything to say about it he said plenty when asked on July 12, 2010 about Bud Selig’s public remarks about his preference for the Greenberg-Ryan bid, “I don’t believe MLB can frustrate this process any longer.” Hopefully Judge Lynn is right, this time.

Once again, stay tuned…


Copyright ©2010 Diane M. Grassi
Contact:
dgrassi@cox.net

MLB'S Gaming Sale of Texas Rangers


By Diane M. Grassi

Back in 1989, it was but a no-brainer for George W. Bush to inject himself into the proposed purchase of the then flailing Major League Baseball (MLB) Texas Rangers. His goals in mind were to propel himself into the governor’s mansion in Austin, TX and eventually to the presidency of the United States, while even making a little bit of cash along the way. And he succeeded on all fronts.

And just a dozen years after the sale of the Rangers by Bush and his investors in 1998, the Texas Rangers organization is again immersed in financial wheeling and dealing, with an upside down ledger. For its expected imminent sale by owner, Thomas O. Hicks, has been met by a major snag from both his creditors and Major League Baseball (MLB), which has injected itself into the middle, with its purported takeover of the Rangers in the very near future.

Should MLB proceed to seize the club, it could be facing an involuntary bankruptcy by creditors, and tied up in court indefinitely while owners of MLB’s 29 other clubs incur the cost of operations of the Rangers. But that prospect does not seem to deter MLB commissioner, Bud Allen Selig, as he believes that MLB’s taking control of the Rangers will offset any bankruptcy proceedings; but another gamble.

But in order to fully appreciate the present predicament of a franchise that has mightily underachieved since arriving in Texas in 1972, from Washington as the Senators, and reaching the post-season only 3 times since, it is worth retracing some highlights of how the Rangers wound up in such a mess.

George W. Bush, with the help of then-commissioner of MLB, Peter Ueberroth, gathered a group of wealthy Texas investors who had political and business connections to his father, then-president of the U.S., George H.W. Bush. In 1989, George W. Bush initially invested his $106,302.00 for a 1.8% stake in the club and later took out a $500,000.00 loan to up his ante to a total of $606,302.00, increasing his interest to 11.8% in the Rangers. While the club eventually sold in 1998 for $250 million, Bush and his investors’ purchase price was a cool $25 million.

In short order, plans for a new stadium were under way, financed completely by Arlington taxpayers, including a surcharge on game tickets and state tax exemptions, totaling over $200 million. And all profits went directly back to the owners.


Of note, however, this model of commandeering stadium construction on the backs of taxpayers has been replicated over and over again both before and since, throughout cities across the U.S., with no greater beneficiary of such corporate profiteering than the New York Yankees.

By the time the Rangers Ballpark in Arlington was opened in 1994, George W. Bush was nearly governor of Texas, as he put his assets into a blind trust, with his interest in the Rangers being the exception.

The upshot being that for his original $606,302.00 investment, George W. Bush got a 25-fold return on his original investment, clearing a $15 million profit. And such got him the capital and gravitas he curried for his run to the White House.

Enter billionaire, Tom Hicks, co-founder and CEO of Hicks, Muse, Tate & First, Inc. from 1989 to 2004, a nationally prominent private equity firm specializing in leveraged acquisitions, including multi-media broadcast entities, banks and real estate. And it was the Hicks Sports Group, LLC of HMTF that purchased the Texas Rangers Baseball Club in 1998 for that $250 million.

Hicks also purchased the National Hockey League’s (NHL) Dallas Stars Hockey Club in 1996, which went on to win a Stanley Cup Championship in 1999. Since then Hicks has been noted for his controversial purchase of a 50% interest in the Liverpool Football Club, an English Premiership League team known as “Britain’s Most Successful Football Club”, purchased in 2007 and much to the dismay of British fans.

Similarly to the Rangers, Hick’s is selling his interest in these other franchises as well. He wants double the price he paid for the Liverpool club and is currently working with NHL commissioner, Gary Bettman, on the sale of the Stars.

But the sale of the Rangers has proven to be far dicier. Bud Selig and MLB have far more to worry about, however, than Tom Hicks at this point, as MLB is now the intermediary in the ongoing negotiations with prospective buyers of as well as the Texas Rangers’ creditors. But a $525 million loan default, threats of court decisions from potential litigation, bankruptcy and the future fiscal health of the team that includes keeping it afloat, will rest with MLB.

What’s next? MLB taking over the Los Angeles Dodgers, while its owners, Frank and Jamie McCourt duke out their divorce decree?

Yet, MLB makes no apology for its policy of sequestering its own books from both the Major League Baseball Players Association (MLBPA) and the public-at-large. For MLB to hold itself in higher regard than Tom Hicks, an evident capitalist who pushed the envelope only as far as his creditors would allow, and at the time with the blessings of MLB, is but the height of arrogance.

However, MLB has invoked its “not in the best interests of baseball” rule, by virtue of the commissioner’s charter, as reason to interfere with the proposed sale of the Texas Rangers. And in that effort, it is willing to accept the least lucrative bid made for the club’s purchase. MLB is determined to guarantee that the Greenberg-Ryan Investment Group which includes Rangers’ president, Nolan Ryan, will ultimately become the eventual owner, in spite of two legitimate and higher bids that were made.

But the “not in the best interests of baseball” rule is a reach at best, given the challenges that MLB will embark upon such as with Monarch Alternative Capital, which has a 57% interest in the Rangers’ debt along with 40 other creditors’ liens against the Rangers, that includes the CIT Group, Inc. They want to make good on the sale of the team in order to recoup their losses and have no fear of tying up the sale in court no matter how long it takes.

And it is there that the rub begins for Bud Selig, who himself appropriated more than $25 million in MLB loans to the Rangers in 2009, $16 million of which went to salaries alone, to keep the Rangers going until June 2010. And since 2009, MLB has embedded itself in Rangers’ management decisions. For example, 1st-round 2009 draft pick, starting pitcher Matt Purke, declined the Rangers’ market value offer and opted to attend Texas Christian University instead, as it was reported that MLB would not permit the Rangers to tender an offer to him for more than the minimum ‘slot system’ specifies, in order to sign him.

If there is no resolution by creditors or a closing date set for the sale of the team soon, this June too could put salaries and bonuses for MLB draftees as well as projected trades for the July 31st trade deadline in jeopardy, as well as put the future of the Texas Rangers franchise in peril for years to come.

MLB and Bud Selig calling all of the shots by fiat presents a clear conflict of interest in terms of the free marketplace. And clearly this is but a bailout by MLB with ramifications similar to those of the U.S. federal government in bailing out financial institutions, car manufacturers and insurance companies. Not only does the government incur a financial stake in these companies but is but purchasing the right to dictate corporate policy. And MLB is no different in that regard in this case.

Yet, on its face, the intricacies are more far reaching than MLB’s takeover of the then Montreal Expos in 2004, now the Washington Nationals. In this matter, after the layers are peeled back, we can see that the “not in the best interests of baseball” rule does not necessarily include taking on Wall Street brokerages, the multi-national banking industry and the U.S. Bankruptcy Court, all the while showing favoritism towards a specific group that wishes to purchase the team.

Volumes have thus far been written over the past year concerning an over-leveraged Tom Hicks. Yet, the same can be said of the entire U.S. economy and its players from Wall Street to Capitol Hill. While that is no excuse for alleged corporate malfeasance, with respect to MLB, cooler heads should prevail. And sometimes that should actually mean that the integrity of the game stands for something other than its bottom line.

In light of the Rangers’ 87-75 2009 win-loss record, far better than in years past, it would be a shame for the hopes and talents of some of its young players to be squandered by reckless decisions on behalf of Bud Selig and MLB. And hopefully, the remaining MLB owners will weigh in and fall on the side of common sense. Stay tuned.

Copyright ©2010 Diane M. Grassi
Contact:
dgrassi@cox.net