The MLB offseason has been marked by a significant delay in free agent signings, with notable players such as Blake Snell, Jordan Montgomery, Josh Hader, and Jorge Soler still remaining unsigned as of January 10th. One of the key factors contributing to this delay is the ongoing bankruptcy case involving Bally Sports. The case has created uncertainty regarding the financial situation of teams, including the Texas Rangers, who are waiting for a judge’s ruling on the amount they will receive from Bally Sports for the 2024 season. However, the scheduled hearing for January 10th has been postponed to January 19th, further prolonging the resolution of the case. This uncertainty has made teams reluctant to offer significant contracts, leaving free agents in a state of uncertainty.
The postponement of the bankruptcy hearing is due to ongoing negotiations and mediation between Diamond Sports, the owner of Bally Sports, and Major League Baseball (MLB). Evan Drellich shared this information in a tweet. While there were reports of a tentative agreement between the two parties before Christmas, they are still working towards reaching a settlement.
The primary issue being discussed in court is the settlement between the MLB and Diamond Sports. According to the New York Post, MLB rejected a $150 million offer from Amazon to stream games aired by Bally Sports. The MLB is seeking a resolution that ensures the 11 teams associated with Bally Sports, including the Texas Rangers, can continue broadcasting through 2024. However, it appears that Amazon is no longer part of the equation for the upcoming season. Currently, there is a dispute between MLB and Diamond Sports, which will be resolved either by a judge or a mediator. The ruling will determine the amount that Diamond Sports will have to pay each team for broadcasting rights. There have been rumors that the Texas Rangers could potentially lose their broadcasting rights unless a satisfactory agreement is reached.
It is hoped that by January 19th, an agreement will be reached, providing teams with the financial details for the 2024 season and beyond. This will allow them to plan for the future accordingly. As spring training approaches, players and their agents are likely engaged in discussions to explore their options. While free agents have shown patience thus far, it remains to be seen if they will continue to wait for a resolution. Teams may ask them to wait another nine days or even longer, but with less than 30 days remaining until spring training begins, some players may grow tired of the delays and opt to sign contracts without waiting for the conclusion of the case.
For the Texas Rangers, this situation poses challenges. If they had plans to sign notable free agents like Jordan Montgomery or Josh Hader, the repeated delays could hinder their chances. These players may not be willing to wait until January 19th or beyond. Alternatively, the Rangers could take a risk and assume that a resolution will be reached. They could attempt to sign Montgomery or Hader, considering their financial situation. Although the income they earned from the 2023 season, including playoffs and merchandise sales, is not equivalent to what they would receive from Diamond Sports, it is still a substantial amount.
Ideally, Texas owner Ray Davis would greenlight a plan for General Manager Chris Young to be more active in the free agent market. The team needs to either re-sign Montgomery or add Hader to bolster their pitching staff. There is no guarantee that the case will be settled on January 19th or anytime soon. Rather than waiting indefinitely for a resolution, the Rangers should make proactive moves now to secure players who are interested in joining the team and improve their roster for the 2024 season.