The Wilpons didn't lose as much money to Madoff as believed

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If you believe financial experts like Larry King, Mets owner Fred Wilpon and family lost as much as $700 million investing with former friend and current inmate Bernie Madoff.  That, however, may be a slight exaggeration:

A partnership connected to the baseball team — which had widely been rumored to have lost money investing with Bernard Madoff — actually gained a net $48 million from its dealings with the convicted swindler, according to a bankruptcy-court filing.

The filing, by the court-appointed trustee handling claims for Madoff victims, is the first documentation of how deeply invested Mets principal owner Fred Wilpon was with Mr. Madoff, a longtime friend.

The filing showed that the Mets Limited Partnership, which is connected with Sterling Equities Inc., owner of the Mets, deposited about $523 million into two accounts with Mr. Madoff — and withdrew about $571 million.

Now that doesn’t necessarily mean that the Wilpons made money.  Yes, it’s a net increase in the money in play, but (a) the Wilpons may have had his money with Madoff for many, many years; and (b) they may have believed, via Madoff’s fraud, that they were up way, way above that.  So in financial terms the Wilpons could have suffered a huge loss in terms of forgone, legitimate gains, and they may have been making financial decisions based on a radically different position than the one in which they actually found themselves to be once the fraud was discovered.  That’s not a $700 million loss, but it’s certainly not great either.

Sadly for Mets fans, however, the team’s competitive position remains just as dire as previously believed.

The Royals and Cardinals make a minor trade

FILE - In this Oct. 6, 2006 file photo, a freshly painted St. Louis Cardinals logo adorns the grass behind home plate at Busch Stadium in St. Louis. The St. Louis Cardinals have been the toast of their Midwestern town for generations, a source of civic pride as one of baseball's most successful and cherished franchises. Suddenly, they're an embarrassment, under federal investigation for the previously unprecedented crime of hacking into the computer database of an opponent, the Houston Astros, whose general manager, Jeff Luhnow, is a former Cardinals executive. (AP Photo/Tom Gannam, File)
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The St. Louis Cardinals just announced that they have acquired minor league outfielder Jose Martinez from the Royals in exchange for cash considerations.

Martinez was the 2015 Pacific Coast League batting champ, hitting .384 in 98 games. This year he’s hitting .298/.356/.433 in 37 games. He doesn’t have a ton of power — he’s more of a doubles guy — and turns 28 this year so he’s not a prospect but he’s not chopped liver.

Meanwhile, Cash Considerations continues to be well-traveled. It must be hard for him to be dealt so many times a season. So much uncertainty and time away from his family. Feel for the guy.

What’s On Tap: Previewing Wednesday’s afternoon action

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We have a lot of day games today.

Steven Matz and Tanner Roark are both coming off of good starts against lesser teams and now face tougher tests. Tyler Duffey is coming off of a terrible start and faces the defending world champs. The Tigers are on a roll but Anibal Sanchez has still struggled a lot. He’ll try to get back on track against the weak-hitting Phillies lineup.

Jake Arrieta goes against a struggling Carlos Martinez in St. Louis. Arrieta has, obviously, been on a roll, with the only person coming particularly close to him being Clayton Kershaw. After Kershaw’s two-hit shutout the other day we’ll see if Arrieta can do the anything you can do I can do better trick. Though doing it against St. Louis is a taller order than Kershaw doing it against Cincy.

No matter what happens, God help these guys if they don’t talk to the media afterward.

New York Mets (Steven Matz) @ Washington Nationals (Tanner Roark), 1:05 PM EDT, Nationals Park

Kansas City Royals (Dillon Gee) @ Minnesota Twins (Tyler Duffey), 1:10 PM EDT, Target Field

Philadelphia Phillies (Aaron Nola) @ Detroit Tigers (Anibal Sanchez), 1:10 PM EDT, Comerica Park

Chicago Cubs (Jake Arrieta) @ St. Louis Cardinals (Carlos Martinez), 1:45 PM EDT, Busch Stadium

Los Angeles Angels (Hector Santiago) @ Texas Rangers (Colby Lewis), 2:05 PM EDT, Globe Life Park in Arlington

Cleveland Indians (Corey Kluber) @ Chicago White Sox (Jose Quintana), 2:10 PM EDT, U.S. Cellular Field

San Diego Padres (James Shields) @ San Francisco Giants (Jake Peavy), 3:45 PM EDT, AT&T Park

 

 

Matt Harvey to make his next start

NEW YORK, NY - MAY 19: Pitcher Matt Harvey #33 of the New York Mets walks off the mound after being relieved during the third inning of a game against the Washington Nationals at Citi Field on May 19, 2016 in the Flushing neighborhood of the Queens borough of New York City. (Photo by Rich Schultz/Getty Images)
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After Matt Harvey‘s bad start last night — his third in a row in a heretofore lost season — many speculated that he could be skipped, sent down or shut down. If that happens it won’t happen yet, however. The Mets just announced that Harvey will make his next start against the White Sox on Monday.

Matt Harvey could not be reached for comment, but I’m sure if he did comment it would be interesting and insightful and would totally change the manner in which he was handled by the New York press corps.

Video: Mike Napoli face-plants into third base after a triple

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Indians DH/1B Mike Napoli has hit ten triples in his 11-year big league career, so sliding into third base after a long run is not something with which he has tons of experience. As such, the slide — and I use that term in the loosest sense possible — he executed — and I use that term as loosely as possible too — when he hit a triple last night against the White Sox was somewhat unconventional.

The best part, though, was that he didn’t even need to slide as the throw from the outfield was delayed due to the outfielder not getting a great handle on the ball and the relay throw which never came was dropped by the infielder. He could’ve gone in standing up.

Thank God he didn’t, though, because this was too good: