Arnott and Hamhuis Gone- Predators Begin Roster Remake

The Nashville Predators began an off season remake of their roster by trading Jason Arnott to the New Jersey Devils and Dan Hamhuis to the Philadelphia Flyers.

In return, the Predators received forward Matt Halischuk and a second round pick in the 2011 draft for Arnott.

Ryan Parent returned to the club that drafted him in 2005  in the swap for Hamhuis.

While it was expected that Hamhuis would be departing the Predators as he entered unrestricted free agency, the trade of Arnott, the Predators captain over the past two seasons, came as a surprise.

Arnott was entering the final year of a four year contract with the Predators and would have counted $4.5 million against the cap this season. Arnott was signed three years ago as a free agent from the Dallas Stars and had a no trade clause in his contract. According to General Manager David Poile, the conversation about moving Arnott began earlier in the season. Arnott gave a list of several teams to Poile that he would consider a trade, with New Jersey being one of the teams.

It was at New Jersey that Arnott saw some of his best playing days. The highlight of his time with the Devils was scoring the double overtime game winner to clinch the Stanley Cup against the Dallas Stars in 2000.

Arnott was a strong player for the Predators, but in the past two season had missed time due to some concussions, so his health and durability were becoming a looming concern.

Hamhuis was drafted by the Predators and had matured into a solid defenseman. His play suffered from inconsistency at the start of the season, but settled down once paired with Cody Franson.

Hamhuis was an unrestricted free agent, and he made it no secret that he liked it here in Nashville. The question for Predators management would be the price that Hamhuis would command in free agency. While it was expected that Hamhuis would give the Preds a hometown discount, the fear was that the money offered by other teams would cause him to go to another team without the Predators receiving anything in return.

By trading the rights to Hamhuis to Philadelphia and receiving Ryan Parent in return, the Predators were able to add back some depth to an already solid blue line. Parent was in the top six of the Philadelphia D corp, and it is expected that he will contend for playing time in Nashville.

With the move of Arnott and Hamhuis, the Predators free up approximately $6.5 million in salary. This will be important as they begin negotiations with several restricted free agents.

Patric Hornqvist, who had a breakout season last year, leading the Predators with 30 goals, is the most prominent of the players that GM David Poile has to sign. I would expect Hornqvist to get a bump to the $2 to 3 million range.

Also in consideration will be restricted free agent Dennis Grebeshkov. Grebs had limited time with the Predators last season due to injury, but in his time on ice demonstrated offensive pop and he was sound defensively. Last season, Grebeshkov was paid $3.5 million, and I would expect his salary to be in that range again.

Restricted free agent Cody Franson, a defenseman,  is also due for an increase. He had a solid campaign last season and should land in the $1-1.25 million range.

Another consideration for the Predators with the trade of Arnott is that another captain must be named. The consensus is that Shea Weber will wear the “C” next season. A powerful blueliner that leads by example both on and off the ice, he would be a natural choice to captain the Predators.

Freeing up the salary of Arnott and Hamhuis leaves the Predators with some room to pursue other free agents, even after the considerations of signing the restricted free agents just mentioned. It is no secret that the Predators need to bolster their offense, so I would not be surprised to see the Predators make some additional moves at the onset of the free agency period.

The Predators have already made some significant changes to remake the squad.

Look for more.

My View

Random thoughts from a warped and fevered mind...


Dr. Donald Berwick is a Massachusetts physician who has been nominated by the Obama administration to be the Director of the Centers for Medicare and Medicaid Services (CMS). As the name implies, CMS is in charge of running the Medicare and Medicaid programs that currently cover 100 million Americans and under the nationalized healthcare program will cover an additional 15 million people. This nomination has received scant attention in the mainstream press, but you should be paying attention to the debate over Dr. Berwick and his views on running an integral component of our nations healthcare. Dr. Berwick has gone on record to say that wealth should be re-distributed to fund healthcare; that all healthcare decisions should be centralized in one decision making body; and that private enterprise, especially in the healthcare sector, represents a "darkness" that must be overcome. Personnel is policy when it comes to the implementation of government programs. If Dr. Berwick is confirmed as the head of CMS, the policy will be socialism that results in the loss of control over your healthcare decisions.


You never really learn to swear until you learn to drive.


Fiat currency is not money that you use to buy an automobile. It is a currency that is issued by a government that is backed by the "full faith and credit" of that particular government. Like the U.S. dollar. There is no other backing- no gold stored in vaults, for instance- to say that a currency is worth what is printed on the face of the bill. The U.S. dollar used to be on the gold standard, meaning that each dollar that was printed had to have a corresponding dollar's worth of gold to back it up. This changed in 1971, when the President Richard Nixon took the U.S. off the gold standard. We in this country have been very fortunate in that the dollar is still the world's reserve currency, because we have financed our massive amounts of debt through the foreign purchases of our dollars. But know this: fiat currencies have difficulty surviving. Politicians see to that. Since they no longer have to have a corresponding amount of gold for each dollar printed, governments are free to print as many dollars as they want and ultimately spend more than a nation can afford. We are doing that in the United States, and one day the weight of our profligate spending will create enormous havoc for our dollar.


Isn't polynesia memory loss in parrots?


There is no doubt the the BP Deepwater Horizon rig explosion and the resulting oil spill in the Gulf of Mexico is an environmental disater of untold proportions. BP, in my opinion, will have been found to be playing loose and lax with safety requirements. The environmental mess, however, is just one aspect of this disaster. The other is the political aspect. Already, the Obama administration is posturing to further curtail drilling and production of oil within our our borders and territorial waters because of the Gulf spill. In the name of "protecting the environment" this administration is attempting to intitiate steps that will cost jobs and lower the standard of living for all Americans by making our energy costs soar. BP should be made to fully pay for the cost of the clean up in the Gulf, and they should make whole the individuals and businesses whose livlihoods have been harmed. BP should not, however, be used to bludgeon Americans into a lower standard of living because of boneheaded energy policies.


Summer is here, and gosh is it hot. I was outside the other day and it was so hot I saw a robin holding his worm with a pot holder.


And that, my friends, is my view.

My View

Random thoughts from a warped and fevered mind...


Desperate times call for desperate measures. Financially our country is in desperate times, and Congress is considering some dramatic changes to the tax code to raise revenue at the federal level. One such item under consideration is the elimination of the mortgage interest deduction for any household making over $250,000 per year to a significantly lower deductible amount. Meg Reilly, spokeswoman for the Office of Management and Budget said, "The proposal will correct inequities in our tax code that allow millionaires to benefit from higher itemized tax deductions than middle class families enjoy." Only in Washington can a household that makes $250,000 per year be considered a millionaire. In response, Senators Judd Gregg (R-NH) and Ron Wyden (D-Ore) have proposed lowering the tax rates across the board but eliminating many of the exemptions that currently exist in the code. They would, however, retain, the mortgage interest deduction. Think the talk of eliminating deductions ends with mortgage interest? This is the U.S. Congress we are talking about, folks! Also in discussion are eliminating the exemption from taxable income the 401(K) contributions many of us make; raising all tax rates; and introducing a value added tax. Nowhere in the discussion has our government talked about cutting spending, waste, and reforming the massive entitlement programs that are in place. Pay attention to the budget discussions in Washington this year.

I have always wanted to be the last man on earth just to see if all those women were lying to me.

Discussions are going on in the Federal Trade Commission about how to "reinvent" journalism. The FTC released a draft proposal May 24th that cites the rise of the internet and the myriad information options that are offered as damaging to traditional media, and it has forced many media companies to have to adapt their delivery systems. Sounds like the free market at work, doesn't it? And for our government, that is a problem. A proposal is being floated that would create a tax on news websites (why is every government "solution" centered around a new tax?) such as the Drudge Report and redistribute those  monies to various newspapers. There has also been a proposal to exempt traditional newspapers from taxation; as well as a 5% levy on devices like laptops, I-Pads, and Kindles that allow people to read the news on-line. Do you see the conflict here? Having the government responsible for the salaries and overall financial health of the traditional media destroys any semblance of objectivity and independence. Should this come to pass, this would represent nothing more than government ownership of the press.

My wife is like nature, she abhors a vacuum.


People respond to incentives. A statement that sounds like a blinding flash of the obvious to you and me seems to be totally lost on government. Don't believe me? The top nine states in the U.S. in terms of economic are growth are the states that do not have a state income tax. Or how about auto sales spiking upward when the "cash for clunkers" program was enacted? Auto sales dropped markedly after this incentive program ended. People respond to incentives. So what do you think will happen when 2011 rolls around and the tax cuts enacted in 2002 expire, leading to higher taxes? Will businesses invest in new employees and expand their operations in the U.S.? Will consumers have more to spend on discretionary items? Knowing that tax rates will rise next year, do you think that income and economic activity is being shifted into 2010 with its lower tax rates?  I do, and if I am right, that means that the economy is poised to sputter and contract next year. People and companies can and do respond to incentives, and in 2011, the incentives to earn, save, and invest will be greatly reduced.

Mirrors don't lie and,  fortunately for me, they can't laugh either.

And that, my friends, is my view.

Nashville Flood Relief Tweetup Pictures

Tom Callahan, Predators Radio play by play announcer; Jeff Schwartzenberg, Predators Director of Marketing; Jennifer Schwartzenberg, Director of the Community Foundation of Middle Tennessee; and Stu Grimson, local attorney and Predators radio color analyst.

Paul Nicholson and his family with Predators Assistant Coach Peter Horachek

Claudia Weber, holding a picture of her "adopted son", Predators defenseman Shea Weber

Predators play by play announcer Pete Weber doing his segment of Preds on the Glass radio

Rebecca Ward, Predators Director of Community Relations; Christine Maddela, news anchor for WKRN Channel 2; Jennifer and Jeff Schwartzenberg

Mrs. View with Predators Assistant Coach Brent Peterson

Raffling off a shirt donated by Dirk Hoag

Mike and Tracie Short, Mark Blake

Predator Bloggers Jeremy Gover of Cellblock 303; Josh from Predators 101; Buddy and Jackson Oakes from Preds on the Glass; and Ryan Porth from RLD Hockey

One of the auction items, a spa basket

A signed "Smashville" canvas signed by Predators defenseman Ryan Suter

Some of the auction items donated by the Predators

Mrs. View, Megan McCann, Stu Grimson, and Predators P.A. announcer Paul McCann

Jennifer Schwartzenberg, Claudia Weber, and Stacey Horachek

Predators play by play announcer Pete Weber, center, and Dirk Hoag of the blog On the Forecheck, right

Chuck Milam, Gen Carter, Josh from Predators 101, and Pete Weber

Paul McCann, Jeremy Gover, Christine Maddela, and Pete Weber

Pete Weber assisting The View with a raffle

The Nashville flood relief NHL Tweetup was the culmination of the efforts of a lot of people that care about Nashville and its people. This was a great event that raised over $2,000 for the Community Foundation of Middle Tennessee. A sincere thank you to all who turned out and supported this worthy cause.

Thank You Is Not Enough

Hockey fans aren't like other fans.

A tag line in a commercial declaring that hockey fans are more passionate than other sports fans.

And yes, we fans are passionate about our team and united around the game we love so dearly. We are, however, not just passionate about our sport, but also about our communities where we live and helping those that need help.

That was very evident at the Nashville flood relief/NHL tweetup that was held ast night at the Tin Roof. Approximately 60 people attended the three hour event, and through their support of the silent auction, raffle, on-line auction, and outright donations, a little over $2,000 was raised for the Community Foundation of Middle Tennessee's flood relief effort.

People in Middle Tennessee whose lives were dramatically altered by the flood in May will be positively affected because hockey fans aren't like other fans.

An event like this could not happen without a tremendous amount of support and participation. The good fortune that I had was to watch it all come together, and I want to give thanks to all who made this event happen.

Dani Muccio took the idea of a tweetup and through her creativity suggested an on-line auction. Not only did she suggest the auction, but used her contacts and tireless efforts to gather merchandise from other teams that was listed on E-Bay's Giving Works site. That auction is still running and additional monies are being collected for flood relief in Nashville thanks to her efforts.

Thanks to Rebecca Ward, the Director of Community Relations for the Nashville Predators. When I approached Rebecca and asked for the support of the team, she did not hesitate to say yes. I expected to have a couple of items to pick up for the auction, but received eight very nice items for the auction, including a signed jersey and other autographed merchandise. Rebecca personifies the team with her involvement in our community.

We needed a venue to host our event. One of the favorite haunts of the players is the Tin Roof, a local bar and restaurant not too far from the arena. I called and spoke to the manager, Amy Peterson, and she was very helpful and agreed to host our event. Ten minutes after hanging up the phone, I got a call from one of the owners, Jason Shear, to say not only would the Tin Roof host the event, but would make a donation to the cause as well.

The Predators coaching staff jumped on board, with Head Coach Barry Trotz donating four game tickets and a tour of the locker rooms. Assistant coaches Brent Peterson and Peter Horachek lent their support and their presence at the event.

The blogging community went to work and got the message out to the the hockey community at large. Thanks to all the Nashville bloggers for your support and your continued mention of the tweetup right up to the event. A special thank you to the 7th Woman, Dee Karl, for publicizing this event on her blog on the Hockey Buzz site.

A special thanks to Sarah Peters and Paul Nicholson, who crafted a very well done web-site- http://nashvillefloodrelieftweetup.com/ that gives access to the on-line auction as well as provided details for the event.

I have to thank Mrs. View for her efforts. She went about securing some non-hockey related items for the auction, which added to the variety of the auction. Her organizational skills were essential to making the evening run well. She even ran the raffle that night..

Buddy Oakes did his Preds on the Glass radio show from the event, and Jeremy Gover added live coverage through U-Stream.

Christine Maddela, local news anchor from Channel 2, Nashville's ABC affiliate, graciously spent several hours with the guests and was involved with an impromptu interview with Buddy.

Pete Weber, the Predators play by play announcer, Paul McCann, the Preds P.A. announcer, and Tom Callahan, Preds radio announcer were all in attendance and participated in the entertainment of the attendees and the events of the evening.

As you look at the involvement and support that this event received, doesn't something stand out to you, dear reader?

Hockey fans aren't like other fans.

Support came from many areas, some surprising. Su Ring and Wendy Smith are friends from Twitter that I have never met personally, but as they watched the disaster in Nashville unfold and got word of the tweetup, both contacted me via Twitter and said they wanted to help. Su wrote the press release that was distributed to media outlets in Nashville and donated a Pitttsburgh Penguins puck autographed by Sidney Crosby and Evgeni Malkin.

Wendy Smith said that she was touched by what had happened in Nashville and wanted to help. I received a Chicago Blackhawks puck from her autographed by Dustin Byfuglien to put up for auction.

Social media has changed the way we communicate and connect, and social media united a group of people across the country that love the great game of hockey to help out their fellow man in a time of need. The response from the hockey community was overwhelming.

And it proved once again that hockey fans aren't like other fans.

The rebuilding of structures and lives in Nashville will take a long time. It will be arduous and there will be times of frustration. It will get done, however, because of the support of people like those I have mentioned. People who care, who are passionate about the betterment of the lives of the people in their community, and who will do what it takes to get the task accomplished. People united by a love of the great game of hockey, and people of character.

Because hockey fans aren't like other fans.

My View

Random thoughts from a warped and fevered mind...


Have you heard of the "Vallejo strategy"? If you haven't, you very well might start hearing more about it in the near future. What is the Vallejo strategy? Vallejo, CA, a city near San Francisco,  filed a Chapter 9 bankruptcy petition in May of 2008. Chapter 9 is the municipal equivalent of an individual filing a Chapter 13 bankruptcy petition to reorganize their debts. What happened to force this drastic action by city leaders? Massive unfunded pension liabilities that the city could not longer afford to pay. These were created when overly generous benefits were awarded to public service unions coupled with unrealistic expectations of how the underlying investments in the pension plans would perform. This perfect storm has far outstripped the ability of the city to meet current needs like trash pick up and police and fire protection as well as fund the pension obligations. The only recourse for the city was to file for protection under the bankruptcy code and attempt to renogotiate pension benefits. As Vallejo Mayor Osby Davis said, "We were robbing Peter to pay Paul, and Peter went broke and there was no one left to rob." Across our country, municipalities are robbing Peter to pay Paul, and eventually Peter will go broke.

If you are cooking alphabet soup on the stove, and leave it unattended, it could spell disaster.

I wrote several weeks ago about New Jersey Governor Chris Christie and his bold efforts to rein in the profligate spending in the New Jersey state budget. Shortly after assuming office, Governor Christie closed a $2.3 billion dollar shortfall in the state budget by enacting immediate spending cuts. He vetoed a tax on millionaires. He has proposed capping property tax increases at no more than 2.5% in a given year, providing much needed relief to property owners in the state. Property taxes in New Jersey have risen 60% since 2000. The Governor's latest proposal to close the budget deficit, estimated to be $10.7 billion next fiscal year, has sparked the ire of the National Education Association and the New Jersey Teacher's Union. His radical proposal? To ask New Jersey teachers to pay 1.5% of their salary toward their health insurance coverage. Currently, teachers in the state pay nothing toward their benefits; they are fully funded by the state. The reaction of the teachers union is indicative of what states and municipalities face when they try to control these costs. The union has spent $5 million on negative ads painting Governor Christie as evil and draconian for asking the teachers to help pay for their benefits. According to Governor Christie, "This is not about a fight with individual teachers. This is about a union that has decided that everyone they represent is entitled to free medical, dental, and vision benefits for themselves and their families from the day they are hired to the day they die." This will shape up to be a public policy debate that will have important ramifications not only for New Jersey, but for municipalities and states across the country.

My psychiatrist told me I was crazy. I told him I wanted a second opinion. He said, "Okay, you're ugly, too."

The disaster in the Gulf of Mexico continues to worsen, and fingers of blame are being pointed in all directions. There is no doubt that the oil spill from the Deep Horizon well operated by British Petroleum will be one of the worst environmental disasters in history. Could this have been prevented? That question will be debated for years, but here is a fact that all should know. Over the past five years, BP has one of the worst safety records of any major oil company. According to inspectors, BP rang up 760 "egregious and willful" violations of safety protocols. Compare that to Conoco and Sunoco, which had 8, and Exxon, which had 1. In fact, BP received a waiver of environmental regulations in 2009 from the Obama administration. Oh by the way, according to ABC News, the top recipient of campaign contributions from BP during the 2008 election cycle was candidate Barack Obama. One has to wonder about the objectivity of the enforcement of environmental and safety regulations for BP. This disaster will be used to curtail further drilling in the U.S. and its coastal waters, furthering our dependence on foreign oil. That is not the right response. As we examine this disaster and its effects, we should start with how the existing regulations are enforced in light of the safety record of each company.

A bus station is where the bus stops. A train station is where the train stops. On my desk, I have a work station...

And that, my friends, is my view.

Has Bud Selig Changed the Sports World Forever?

A drama is playing out in Texas involving Major League Baseball and the sale of the Texas Rangers that could have an impact on all sports. The outcome of this drama could forever alter the landscape of financing sports franchises not only in baseball, but in all sports leagues.

Tom Hicks owns the Texas Rangers and the Dallas Stars, and like many owners of sports franchises, used debt from multiple lenders to finance the purchase of those franchises. There are 40 lenders that are involved in the financing of Hicks' sports teams, and the debt on the Rangers franchise is approximately $525 million.

Hicks is a businessman that has made his fortune by borrowing money to buy businesses, spruce them up, and sell them for, mostly, a significant profit. He is a leveraged buyout specialist. One of his most famous deals was the purchase of Dr. Pepper and 7 Up for $646 million and selling those companies several years later for $2.5 billion. Hicks has also made money- lots of it- by running leveraged buyout funds, funds that used debt to buy companies and sell them at appreciated prices in the future. These private equity funds would gather funds from investors, borrow more money from lenders, and buy companies using these proceeds. The power of the leverage- debt from lenders- increased the buying power of the funds that Hicks ran. For example, he invested $2 million into Mark Cuban's Broadcast.com business and netted $55 million in less than a year when the company sold.

This is a great business when the economy is strong and growing. Leverage amplifies the positive return, making the profits to investors grow exponentially. Leverage is a fickle mistress, however, and when markets and the economy contract, leverage can be deadly.

No investor or investment manager gets every investment to work perfectly. One of Hicks' funds, named Fund 4, lost 30% for investors when the dot com bubble burst in 2000. Subsequent funds suffered losses, and in 2004, Hicks exited the fund management business.

This same business model has been used by Hicks in the acquisition of the Rangers and the Stars. As mentioned, the debt on the Rangers franchise is over $525 million. The Rangers franchise does not generate enough revenue to service the debt, which has meant during the tenure of Hicks' ownership the losses have been covered by Hicks personally. This is not a problem when revenue from other business ventures and investments is flowing in. However, when the economy turned and revenues from his other business interests waned, Hicks had to step up and cover the losses from personal funds.

In March of 2009, Hicks made a decision to stop covering these losses, and defaulted on an interest payment that was due to the lenders in the amount of $10 million. Hicks further spent reserves that lenders required to be maintained for future interest payments to cover operating losses for the Rangers and the Stars. Those reserves were originally $17 million. It was obvious that Hicks Sports Group (HSG) was in dire financial condition.

Hicks undertook an effort to sell one or both of the franchises, and seemingly secured a buyer for the Rangers, a group that included Chuck Greenberg and Nolan Ryan, and settled on a sale price of $500 million.

Which brings us to the drama that is now playing out in Dallas, in the offices of Major League baseball, and in the offices of the creditors of the Rangers.

The lenders have balked at the sale price. They contend that the team could fetch a higher price and this sale will result in losses they should not have to absorb. Last week, lenders holding 95% of the debt on the Rangers franchise voted to block the sale through the exercise of their legal rights as creditors.

The rightful and legal exercise of the creditor's rights has caused the Commissioner of Major League Baseball, Bud Selig, to step in and threaten to revoke the rights of the creditors if they continue object to the sale. He claims that he can do this using a little used rule that allows the Commissioner to act "in the best interests of baseball". According to Daniel Kaplan, writing in the May 10th issue of Sports Business Journal, Selig notified the lenders via e-mail on April 30th, that he could utilize the "best interests" rule to revoke their liens if the creditors attempted to block the sale.

The invocation of this rule is not without precedent, as it was used to facilitate the sale of the Montreal Expos.While the "best interests" rule was initiated to relocate a failing franchise, this is the first time that the rule has been used to negate the rights of the lenders that have financed the purchase of a sports franchise. This action is unprecedented and creates a negative new dynamic between a sports league and the lenders that finance the purchase of a franchise.

The creditors have indicated that they would pursue legal recourse if Selig initiates this action.

While it will be interesting to see how this plays out for professional baseball and the Rangers, the impact of this action could have amazing ramifications for the entire sports world. The creditors, according to Kaplan, have warned Selig that if the Commissioner invalidates their rights, it will decimate sports financing in baseball. One lender, who requested anonymity, said that this action could freeze up sales of franchises in baseball, since most sales are dependent upon financing from creditors.

The money quote (pardon the pun) in Kaplan's article is this, "Bud can forget any lender, which includes any hedge fund or anyone, lending a single nickel or dime into baseball again," said Joe Kosich, who owns Dornich Capital Advisors and formerly ran sports lending for Wachovia Bank.

While this brouhaha is being played out in the confines of Major League Baseball, it is not a stretch to see the implications of this dispute for other sports. The chilling effect of this type of action would certainly limit the pool of potential buyers for a sports franchise if financing is not available.

The question is can a Commissioner in another sport, say a Gary Bettman, invoke a similar rule to limit the sale of a franchise by constraining creditors?

Funny that I should bring up Gary Bettman in this discussion.

In reading the Constitution and by-laws of the NHL, one does not find a specific "best interests" clause. One does find verbiage that discuss the "promotion" of the game, operating for the "good of the game", and actions that should be done for "protecting the integrity of the game". The Commissioner has the right to to "establish policies and and procedures regarding the provisions of the Constitution and by-laws... and any determination made by the Commissioner...shall be final and binding and shall not be subject to any review."

Sounds like the NHL Commissioner has wide latitude to act in the "best interests" of the game.

Unlike Bud Selig, Gary Bettman has the precedent of the Courts to back up his actions in the best interests of the game. Remember the Balsille attempt to purchase the Coyotes? The NHL negated the sale of the Coyotes to Balsillie because he did not abide by the rules of purchasing a franchise, and even though his offer price was higher than any other bid, it was not in the "best interests" of the NHL to have the purchase occur in the manner in which it was attempted.

So what does all this mean?

Should Major League baseball prevail in their forced sale, the effect will be to potentially dry up funds from lenders for the purchase of a sports franchise. As a result, the price or value of a sports franchise will decline because the pool of potential buyers will shrink significantly if financing is not available. Buyers that can write a check for a franchise- think the aforementioned Jim Balsillie- will be in great demand by potential sellers. Leagues may be forced to accept owners that at one time they would be unwilling to allow into their ranks. As financial institutions have initiated stricter underwriting standards for loans, the potential of a sports league to invalidate their standing as a creditor has a severely chilling effect and makes it more difficult for potential buyers to get financing.

Simply put, should lenders pull back from financing sports franchises, the value of those franchise will fall and it will be more difficult for existing owners to sell those franchises to potential buyers.

So this drama in Texas is speeding toward a resolution. The outcome can have impact on all of professional sports and the owners, and potential owners of a sports franchise.

We will see if the outcome is really in the "bests interests" of baseball.

And perhaps of all sports.