Frank McCourt — who owns a baseball team worth close to a billion dollars, multiple luxury homes and eats out at fancy schmancy restaurants seven nights a week — claims that he’s got a cash flow problem:
Mr. McCourt’s filing paints the picture of a man who, relative to
his lifestyle, is operating without much of a cash cushion. In the
filing, Mr. McCourt said his liquid assets consisted of a bank account
with less than $1.2 million.
His filing said Mr. McCourt wouldn’t see any significant income
until next year — possibly as late as March — when he expected a
quarterly payment of as much as $1.25 million from the partnership that
owns the Dodgers. He said payments from the partnership were “my only
source of personal cash flow” other than checking-account interest. Mr.
McCourt said his liquid assets recently fell as low as $167,000, after
paying about $700,000 in expenses for his wife, who filed for divorce
last month. He said the Dodgers don’t pay any of his personal expenses.
Jamie McCourt’s lawyer says that’s “baloney” and says that Frank should “be ashamed of himself” for pleading poverty like this.
I think the truth is somewhere in between. Even if you believe Jamie McCourt’s previous filings which seek to paint the couple as loaded (and her as entitled to much of that wealth) they also show severe indebtedness. Indeed, the McCourt’s whole empire, the Dodgers included, is based on leverage, much of it tied up in homes that aren’t likely worth what they paid for them, and the bills continue to come due.
It’s exactly this sort of situation — minus the divorce, mind you — that has led to Tom Hicks’ ownership of the Rangers to near damnation. Throw in the divorce and you have Padres’ owner John Moores.
The more I see of this case, the more certain I am that the Dodgers will be sold in the not too distant future, and that until that sale comes, they’ll be cutting expenses wherever they can.
And hey, look! Higher ticket prices!
The Cardinals went from winning 100 games last season to 82 entering Wednesday evening’s game, and they might not even make the playoffs. Still, the organization will bring back manager Mike Matheny for the 2017 season, Jose de Jesus Ortiz of the St. Louis Post-Dispatch reports.
Owner Bill DeWitt, Jr. said, “Mike’s done a really good job for us. There’s no thought that we’re going to go in any different direction.”
GM John Mozeliak also expressed his support, saying, “Mike takes a lot of heat, and I’ve defended him and I will continue to. I really feel like some of the things that we’re dealing with aren’t fair to put on the manager.”
Mozeliak continued, “I do feel like all of us are always held accountable for what we do here, so there’s nobody excluded from that. But having said that, I don’t look at him as someone that we are where we are because of that.”
Matheny has received criticism for his bullpen usage, but the Cardinals have only 15 blown saves as a team, the fourth-lowest total in baseball this season.
The Phillies’ bullpen led to yet another loss on Tuesday. Severino Gonzalez, Luis Garcia, Joely Rodriguez, and David Hernandez combined to allow six runs in five innings, allowing the Braves to come back and win 7-6 after falling behind 6-0 after the first two innings.
The game prior, the Phillies’ bullpen surrendered 14 runs in four innings in a 17-0 loss to the Mets. The game before that, the bullpen yielded four runs in four innings, nearly squandering the Phillies’ 10-0 lead after four innings. And last Thursday, the Phillies had taken an 8-6 lead in the top of the 11th, but Edubray Ramos served up a walk-off three-run home run to Asdrubal Cabrera. It’s been a tough month.
Manager Pete Mackanin ripped the bullpen when speaking to the media after Tuesday’s game. Via Jim Salisbury of CSN Philly:
Neris was going to close for us. I thought about using him with two outs in the eighth. But, at some point, somebody else has to do a (bleeping) job. Somebody else has to (bleeping) step up. In two games now, every reliever I brought in has given up a (bleeping) run. That’s unheard of.
The Phillies currently own the fourth-worst bullpen ERA in baseball at 4.97. Only the Rockies (5.12), Reds (5.07), and Diamondbacks (4.98) have been worse.
In fairness to the bullpen, aside from Jeanmar Gomez (who lost his job as closer earlier this month) and free agent signee David Hernandez, the bullpen is intentionally comprised of young, inexperienced pitchers as the Phillies are still rebuilding. If the Phillies were aiming for a playoff spot, it would be one thing, but the struggles are to be expected when one throws 24-year-olds into the deep end.