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!
Hey, the hot stove is finally generating some real fire …
CBS Sports’ Jon Heyman reports that the Tigers have agreed to terms on a contract with free agent starter Jordan Zimmermann. It’s a five-year deal worth around $110 million, per Jon Morosi of FOX Sports.
This should have a domino effect on a loaded starting pitching market. David Price, Zack Greinke, Johnny Cueto, Mike Leake, and Jeff Samardzija are just a few of the names still out there.
Zimmermann, 29, posted a 3.66 ERA, 1.21 WHIP, and 164/39 K/BB ratio in 201 2/3 innings this past season for the Nationals. He had a 2.66 ERA in 2014 and threw a no-hitter on the final day of the regular season.
Zimmermann’s free agency is tied to draft pick compensation because he rejected a one-year, $15.8 million qualifying offer from Washington, but the Tigers finished with one of the 10-worst win-loss records in 2015 so their first-round pick in 2016 is protected. Detroit will give up its second-round pick instead.
Here’s a pretty good way to finally break out of that turkey-induced Thanksgiving tryptophan coma.
It’s a compilation of the 10 longest home runs from the 2015 season, with MLB.com’s Statcast technology providing data along the path of each blast …
Jon Morosi of FOX Sports reports that the Tigers are in discussions with free agent starter Jordan Zimmermann. His sources have told him that the talks have become “serious”.
Zimmermann, 29, has a career 3.32 ERA across parts of seven seasons in the majors. He finished fifth in National League Cy Young Award balloting in 2014, finishing with a 2.66 ERA and a 182/29 K/BB ratio over 199 2/3 innings.
Among starters who have amassed at least 1,000 innings since 2009, only Cliff Lee, Dan Haren, Madison Bumgarner, and Zack Greinke have compiled a better strikeout-to-walk ratio than Zimmermann’s 4.09. While he doesn’t have the star power of other free agents such as Greinke or David Price, the Tigers would certainly improve their rotation by bringing him on board.
Having already added Jesse Chavez and J.A. Happ to the mix and re-signing Marco Estrada early in the offseason, Blue Jays interim GM Tony LaCava said the team will continue to pursue pitching upgrades, as Sportsnet’s Ben Nicholson-Smith reports. Nicholson-Smith added that LaCava declined to comment on free agent ace David Price. It is believed that the Jays will not pursue Price and other big-name free agent starting pitchers given their November activity.
The Jays re-signed Estrada to a two-year, $26 million deal on November 13, acquired Chavez from the Athletics in exchange for reliever Liam Hendriks on November 20 and signed Happ to a three-year, $36 million deal on Friday.
Nicholson-Smith notes in a column on Sportsnet that the Jays need to address the bullpen in particular. That is especially true after swapping Hendriks, who had a career-best 2.92 ERA out of the Jays’ bullpen in 2015, for a back-end starting pitcher.