Frank McCourt pleads poverty. Relatively speaking.

Leave a comment

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!

Report: Teams have inquired with the Angels about Hector Santiago

ANAHEIM, CA - JULY 20:  Hector Santiago #53 of the Los Angeles Angels of Anaheim pitches during the first inning of a baseball game against the Texas Rangers  at Angel Stadium of Anaheim on July 20, 2016 in Anaheim, California.  (Photo by Sean M. Haffey/Getty Images)
Sean M. Haffey/Getty Images
1 Comment

ESPN’s Jerry Crasnick reported on Monday that the Angels have received inquiries from multiple teams concerning starter Hector Santiago. He adds that the club is willing to listen to offers. Jon Morosi of FOX Sports and MLB Network reports that the Marlins are among the teams that have inquired.

Santiago, 28, has pitched to a 4.32 ERA with 96 strikeouts and 47 walks in 110 1/3 innings. Sabermetric statistics such as FIP, xFIP, and SIERA think the lefty has pitched even worse than his ERA indicates however, pitting 2016 as his worst performance to date.

Santiago is earning $5 million this season and will enter his third and final year of arbitration eligibility going into 2017.

We also learned earlier that, in an effort to bolster their starting rotation, the Marlins have also shown interest in Wade Miley of the Mariners and Jeremy Hellickson of the Phillies.

Prince Fielder will undergo season-ending neck surgery this week

SEATTLE, WA - JUNE 10: Prince Fielder #84 takes a swing during a game against the Seattle Mariners at Safeco Field on June 10, 2016 in Seattle, Washington. The Mariners won the game 7-5. (Photo by Stephen Brashear/Getty Images)
Stephen Brashear/Getty Images
5 Comments

The Rangers placed DH Prince Fielder on the disabled list last week due to more neck discomfort. On Friday, Fielder met with Dr. Drew Dossett, who performed spinal fusion surgery on Fielder in 2014 for a herniated disk in his neck. Dossett has recommended another procedure, so Fielder will undergo season-ending surgery this week, Jeff Wilson of the Fort-Worth Star Telegram reports.

Fielder was having a rough season, batting .212/.292/.334 with eight home runs and 44 RBI in 370 plate appearances. He played in only 42 games in 2014, but returned in 2015 looking more like his old self. Unfortunately, neck and back issues are notoriously difficult to fix. Hopefully, this upcoming procedure does the trick for Fielder.

Fielder is owed $24 million per season through 2020, with the Tigers paying $6 million of it per season.