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!
It was only a matter of time before Mike Trout courted another all-time record, and on Saturday, he found himself in elite company with his 25th and 26th home runs of the season. He put the Angels on the board with a 429-foot blast in the first inning, depositing an 0-1 fastball from the Orioles’ Kevin Gausman into the left field bleachers:
In the third inning, with the Angels up 2-1, Trout returned to tack on another insurance run. He targeted Gausman’s slider for his second solo shot of the evening and cleared the center field fence with a 418-footer to bring his total to 26 home runs on the year.
Trout has mashed at a staggering .339/.471/.596 clip since his return from the disabled list last month, and Saturday’s totals helped mark his sixth consecutive season with at least 25 home runs. That’s a record few have matched before their age-26 season; in fact, only Hall of Fame sluggers Eddie Mathews and Frank Robinson have ever pulled it off.
Assuming he continues to rake in hits and plate appearances over the last six weeks of the regular season — and there’s nothing to indicate that he won’t — Trout is in line to join elite company of a different kind. The 26-year-old entered Saturday’s game with a 206 OPS+ (park-adjusted on-base plus slugging). According to MLB.com’s Matt Kelly, that means Trout’s hitting at a better clip than the average Major League player by a full 106 percent. Should he finish the year with a 200 OPS+ and 502 plate appearances or better, he’ll be the first player to do so since Barry Bonds obliterated the competition with his 263 OPS+ in 2004.
The Blue Jays acquired right-hander Tom Koehler from the Marlins in exchange for minor league right-hander Osman Gutierrez and cash considerations, the clubs announced Saturday. Koehler is in his sixth year with the Marlins and stands to make $5.75 million in 2017. He’ll be arbitration eligible in 2018 and is set to enter free agency by 2019.
The 31-year-old right-hander struggled to a 7.92 ERA, 4.7 BB/9 and 7.1 SO/9 over 55 2/3 innings with Miami in 2017. He was optioned to Triple-A New Orleans in late July, where he rebounded with a 1-1 record in seven starts and whittled his ERA down to a 1.67 mark. The Blue Jays have yet to establish Koehler’s role within their organization, but are hoping to see a turnaround from the righty when he breaks back into the big leagues.
Gutierrez, 22, was assigned to Single-A Greensboro on Saturday. He has yet to find his footing in the minors, and exited a 78-inning stint with Single-A Lansing after racking up a career-worst 7.85 ERA and 8.2 SO/9. His lack of control is particularly alarming, with a 6.2 BB/9 that dwarfs the 2.0+ BB/9 of seasons past, but he still has plenty of time to figure out his mechanics before reaching the Show.