Ballplayers at the top of a ponzi scheme

Leave a comment

Here’s Scott Boras’ comment back in February when it was revealed that several baseball players were among the clients of suspected fraudster Robert Allen Stanford:

“The broker dealers the players have chosen have advised our
personal management auditors the players are not in jeopardy of losing
money.”

Here’s the news from yesterday:

The lawyer trying to recover the money from R. Allen Stanford’s
purported Ponzi scheme wants seven current and former Major League
Baseball stars who had invested with the accused swindler to turn over
millions of dollars, mostly of the players’ own money.

Ralph S. Janvey, whom the Securities and Exchange Commission
appointed as the “receiver” in the case, wants to take $9.5 million
from the players, an amount that mostly consists of their initial
investments, so that the athletes’ money can be split up among all of
Mr. Stanford’s purported victims.

“The fact that the [ballplayers] are innocent investors and
committed no wrongdoing does not entitle them to retain proceeds
received from the fraudulent” scheme, lawyers for Mr. Janvey wrote in a
filing last week with the U.S. District Court in Dallas.

Oops.

The players who, if the motion is granted, stand to lose millions
include Greg Maddux, Johnny Damon, J.D. Drew, Andruw Jones, Carlos
Pena, and Jay Bell.

The question I asked back in February and for which I’d still like
an answer is whether Scott Boras — who makes a big deal about how he’s
a full-service representative — steered these guys to Stanford. Maybe
someone in a position to should ask him.

Yordano Ventura exits game with back tightness

DETROIT, MI - SEPTEMBER 24: Yordano Ventura #30 of the Kansas City Royals pitches against the Detroit Tigers during the first inning at Comerica Park on September 24, 2016 in Detroit, Michigan. (Photo by Duane Burleson/Getty Images)
Getty Images
Leave a comment

Royals’ right-hander Yordano Ventura was pulled in the fifth inning of Saturday’s matinee against the Tigers with an apparent injury. After throwing four pitches to start the fifth and serving up a Justin Upton double, Ventura was visited on the mound by head trainer Nick Kenney. Per Rustin Dodd of the Kansas City Star, he’s day-to-day with back spasms and lower back tightness.

It’s just another bump in the road for the defending champions, who currently sit 6.5 games back of a postseason spot with seven left to play. Through 176 innings in 2016, Ventura posted a 4.35 ERA and 1.2 fWAR, a considerable downgrade from the 4.08 ERA and 2.7 fWAR he contributed during last season’s championship year despite a moderate bounce-back in the second half.

Prior to his early exit from Saturday’s game, Ventura went four innings for the Royals, giving up three runs on 10 hits and two walks and striking out six of 24 batters faced.

Cubs are seeking a court order against unlicensed vendors

2587958
3 Comments

If you’re looking to rep the red and royal blue this October, you best get your gear inside the ballpark. According to Lauren Zumbach of the Chicago Tribune, the Cubs have sought a court order that would allow them to seize unauthorized merchandise being hawked outside of Wrigley Field. That includes shirts with taglines like “Just One Before I Die” and apparel depicting a blue flag with a white “W.”

[The Cubs] received a trademark for “W” flags, but a trademark for use on apparel is pending. Deeming a letter of the alphabet worthy of a trademark might seem like a stretch, but around Wrigley, everyone knows what that particular W in that particular color combination means, [intellectual property attorney Douglas Masters] said.

While seven vendors have been named in the suit, the Cubs have a list of 30 more whom they suspect of trademark infringement, including retailers who primarily operate online.

Back in 2013, the Cubs ran into a similar issue when a fan dressed as alternative mascot Billy the Cub and made multiple appearances on game days outside the park. After six years in the role, Billy the Cub was ordered to cease and desist his ballpark activities by the team.

This time, however, Billy’s tip jar pales in comparison to the revenue unauthorized sellers stand to reap over the next two months. With the playoffs just around the corner and playoff merchandise sales in full swing, quashing the competition (both on the field and off) will be top priority in weeks to come.

The club’s full complaint can be found here.