Could debt restrict Cards' offers to Pujols?

Two months ago, it looked like the St. Louis Cardinals were making a lowball offer indeed to Albert Pujols.

Now, while it still seems to be a lowball offer in relation to other top league players, in relation to the Cardinals' debt load, maybe it isn't.

The Cardinals, as a percentage of estimated team value to debt, are one of the more finance-strapped teams in the league, as this in-depth blog makes clear. The team's debt adds up to more than half the team's estimated worth. By debt percentage, the Cards rank seventh; by amount, they're fifth.

Per pending changes in MLB rules related to earnings before interest, taxes, depreciation and amortization, the Cards are fairly close to "flunking" the rules.

Blogger Larry was working off this in-depth report of MLB team debt at Forbes.