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!
On Sunday, it was reported that second baseman Neil Walker and the Mets were discussing a potential three-year contract extension worth “north of $40 million.” Those discussions took a turn for the worse. The Mets feel extension talks are “probably dead,” according to Mike Puma of the New York Post.
Walker underwent a lumbar microdisectomy in September, ending his 2016 season during which he hit .282/.347/.476 with 23 home runs and 55 RBI over 458 plate appearances.
The Mets may not necessarily need to keep Walker around as it has some potential options up the middle waiting in the minor leagues. Though Amed Rosario is expected to stick at shortstop, Gavin Cecchini — the club’s No. 3 prospect according to MLB Pipeline — could shift over to second base.
The story of Rick Ankiel is well known by now. He was a phenom pitcher who burst onto the scene with the Cardinals in 1999 and into the 2000 season as one of the top young talents in the game. Then, in the 2000 playoffs, he melted down. He got the yips. Whatever you want to call it, he lost the ability to throw strikes and his pitching career was soon over. He came back, however, against all odds, and remade his career as a solid outfielder.
It’s inspirational and incredible. But there is a lot more to the story that we’ve ever known. We will soon, however, as Ankiel is coming out with a book. Today he took to the airwaves and shared some about it. Including some amazing stuff:
On drinking in his first start after the famous meltdown in Game One of the 2000 National League division series against the Braves:
“Before that game…I’m scared to death. I know I have no chance. Feeling the pressure of all that, right before the game I get a bottle of vodka. I just started drinking vodka. Low and behold, it kind of tamed the monster, and I was able to do what I wanted. I’m sitting on the bench feeling crazy I have to drink vodka to pitch through this. It worked for that game. (I had never drank before a game before). It was one of those things like the yipps, the monster, the disease…it didn’t fight fair so I felt like I wasn’t going to fight fair either.”
Imagine spending your whole life getting to the pinnacle of your career. Then imagine it immediately disintegrating. And then imagine having to go out and do it again in front of millions. It’s almost impossible for anyone to contemplate and, as such, it’s hard to judge almost anything Ankiel did in response to that when he was 21 years-old. That Ankiel got through that and made a career for himself is absolutely amazing. It’s a testament to his drive and determination.