Hot Stove season is officially underway, and Brian Cashman isn't wasting any time. The Yankees have already signed Nick Swisher, in a deal that seems very good for the Yankees. Wilson Betemit and Jeff Marquez are a small price to pay for a player like Swisher. He will be their first baseman.
Some fans think the Yankees will also try to sign Mark Teixeira or Adam Dunn, but Pete Abe thinks that's nuts, and I agree. The Yanks might sign a CFer, but not another big name corner outfielder. (They might also decide Brett Gardner and Johnny Damon are enough to keep center field warm until Austin Jackson is ready.)
What they really need is starting pitching. Joba, IPK, and Hughes might be the Yankees' future, but after last season, the Yanks don't want to count on them just yet. Cashman has said that they'll sign two pitchers to be one-two ahead of Chien-Ming Wang. They've already made an offer to Sabathia.
Mike Celizic thinks the Yankees should sign three free agent pitchers: Sabathia, Burnett, and Lowe. Boy, that seems like overkill.
Of course, some thing the Yankees have so much money they can buy all the players they want. Why not sign Sabathia, Burnett, Lowe, and heck, Teixeira and Dunn, too?
But even the Yankees have financial limits. Especially with the luxury tax, and the expense of the new stadium. Celizic thinks the new stadium will be a cash machine, but I wonder. The sports world has not been immune the financial crisis. Apparently, Bud Selig even warned the teams about it during the GM Meetings.
The Dallas Cowboys are trying to find a loan to finish up their new stadium, and it's not clear they'll get one:
Industry watches as Cowboys look for loan
The Dallas Cowboys are seeking to borrow $350 million by Dec. 1, according to numerous finance sources, in one of the worst credit environments in the nation’s history.
The club’s proposed deal would refinance $126 million the team borrowed last year through the now-imploded auction-rate securities market, as well as add new debt to cover cost overruns at the team’s $1.2 billion stadium that is set to open next year, the sources said.
“Everyone is looking at the Cowboys’ deal. It is a huge bellwether,” said one finance source. “This is one of the only deals, period, in the market [sports or otherwise].”
I bet Jerry Jones never imagined he'd have this kind of problem. The Cowboys have long been one of the most marketable teams in sports, and things were looking even better with the emergence of Tony Romo.
If the Cowboys are having funding troubles, you have to wonder if the Yankees are vulnerable, too. Wall Street is likely who the Yankees were counting on the fill all those luxury boxes, but Wall Street is not in a mood to spend these days.
Labels: The Greater Depression
