Mo Vaughn: real estate tycoon

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Vaughn Mets.jpgMo Vaughn used to spend his offseasons here in Columbus, Ohio.  Our paths crossed in a very, very vague way about seven or eight years ago as one of his investments — a bar he opened called “Flo Nitelife” — crashed and burned almost as soon as it opened. I represented a creditor, there ended up being no money in the joint anyway, and everyone decided that there was no sense in everyone suing everyone else.

I took two things away from that experience: (1) the certainty that one should never, ever go into the bar business unless one is in tight with both the booze distributors and the code enforcers, because you’re roadkill if you’re not; and (2) the feeling that, while Mo Vaughn may not have been the best bar owner on the planet, he was a pretty nice guy. I mean even my client who was left holding the bag on some fixtures that weren’t paid for swore that Vaughn was a great dude. Stuff just happens, ya know?

All of which makes me happy to see that Vaughn appears to have turned his business fortunes around, this time in New York:

These days he’s got it–not as the American League’s former MVP but as
the managing director of one of the city’s best-regarded and most
active buyers and managers of affordable housing. Along the way, Mr.
Vaughn and company have earned a place as one of the city’s top choices
for turning around distressed residential properties.

Vaughn may not have panned out as the Mets’ first baseman, but he’s doing much better in the Big Apple his second time around.

Padres sign Jordan Lyles

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The Padres announced on Sunday that the club signed pitcher Jordan Lyles to a one-year major league contract with a club option for 2019. According to Jon Heyman of FanRag Sports, Lyles will earn $750,000 in 2018. Pitcher Travis Wood was designated for assignment to create room on the 40-man roster for Lyles.

Lyles, 27, had miserable results between the Rockies and Padres last season, compiling an aggregate 7.75 ERA with a 55/22 K/BB ratio over 69 2/3 innings. While he specifically gave up 24 earned runs in 23 innings across five starts with the Padres, it was a small sample. A full season at the pitcher-friendly Petco Park, as opposed to Colorado’s Coors Field, might help revitalize his career.

Wood, 30, went to the Padres at the non-waiver trade deadline from the Royals this past season. Overall, the lefty posted an aggregate 6.80 ERA with a 65/45 K/BB ratio in 94 innings. He’ll earn $6.5 million this season and has an $8 million mutual option with a $1 million buyout for 2019. So, the Padres are just eating $7.5 million minus the league minimum, assuming Wood latches on elsewhere.