Derek Jeter: Yankees owner

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jeter.jpgKevin Kernan thinks that Derek Jeter’s future is in ownership:

The Yankees need to find a way to make Derek Jeter a Yankee for Life.
There’s really only one way. At some point the Steinbrenner family
would have to take him into the ownership group . . . Jeter is set on being an owner when his playing days are done.
Without specifically talking about the Yankees, Jeter told The Post
yesterday that being an owner is “definitely a goal of mine.”

First thought: why do the the Yankees need to find a way to make Jeter a Yankee for life? He’s important, sure, but I think the Yankees are more important to him than he is to them. The team has done just fine without making Babe Ruth, Joe DiMaggio, Yogi Berra, Mickey Mantle, or Reggie Jackson an owners, so I tend to think they’ll survive just fine if they were to hold the line at “special assistant to the general manager” or “spring training instructor” when it comes to Derek Jeter’s future role with the team.

But let’s say all parties are interested in Derek Jeter being an owner. How would that work?

There was a time not too long ago when the Yankees’ ownership club wasn’t the most exclusive in the world. George Steinbrenner was only one of many notables in the original ownership group that purchased the Yankees from CBS in 1973. Included were guys like financier Lester Crown (who still holds a stake), Football legend Lamar Hunt’s brother Nelson, and John DeLorean of all people.  There were a lot of smaller investors from here in Columbus, Ohio, one of whom was a nice old lady who used to be a client of mine. She had Yankee stuff all over her house and used to joke with people that she was going to fire Joe Torre whenever the Yankees beat the Indians as, business aside, they were her true rooting interest.

In recent years the Steinbrenners have either bought out the minority owners or had their shares revert to their control upon death or what have you.  But that doesn’t mean that they can’t let someone like Derek Jeter into the club.  It would just take a (likely token) capital investment and some paperwork.

But it wouldn’t be meaningful ownership. According to Forbes, the Yankees are worth $1.5 billion, and at that price it would cost Jeter way more than he can afford* in order to get a significant stake for himself. And of course, the majority shareholders — the Steinbrenners — are hands-on owners to say the least, so there’s no way they would ever give a minority shareholder real ownership responsibility the way the Giants do, for example.

So if Jeter simply wants to say that he owns a chunk of the Yankees I’m sure that can be arranged. If he really wants to act like an owner some day, however, he’d do better to put together a group of investors himself and buy the Royals or something.

*Kernan mentions Michael Jordan’s recent ascension to owner of the Charlotte Bobcats as an example that Jeter could follow. Worth noting, of course, that the Bobcats are worth less than 1/5 of what the Yankees are worth, and that Michael Jordan has probably made a billion dollars since he left UNC.  Jeter, in contrast, makes something less than $30 million a year in salary and endorsements. Not too shabby, but not the kind of dough you’d need to be able to so much as make decisions regarding office supplies for Yankees headquarters.

Steven Matz likely to start season on DL; Zack Wheeler to adhere to innings limit

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Mets manager Terry Collins said on Wednesday, “It’s unlikely that [Steven Matz] will start the season with us.” The final spot in the Mets’ starting rotation will go to either Zack Wheeler or Seth Lugo, Newsday’s Marc Carig reports.

On Wheeler’s innings limit, assistant GM John Ricco said, “There’s going to be some number but we don’t exactly know what that is.” Wheeler missed the last two seasons after undergoing Tommy John surgery.

Neither Wheeler nor Lugo have had terrific springs as each carries a 5.11 and 5.56 Grapefruit League ERA, respectively. However, Carig notes that Wheeler has impressed simply by appearing healthy and brandishing a fastball that once again sits in the mid- to high-90’s. Lugo, meanwhile, proved crucial to the Mets last year, posting a 2.67 ERA across eight starts and nine relief appearances.

Rockies sign 30-year lease to stay in Coors Field

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Nick Groke of the Denver Post reports that the Rockies agreed to a $200 million, 30-year lease with the Metropolitan Baseball Stadium District, which is the state division that owns Coors Field. As part of the deal, the Rockies will lease and develop a plot of land south of the stadium, which will cost the team $125 million for 99 years.

As Groke points out, had the Rockies not reached a deal by Thursday, March 30, the lease would have rolled over for five more years.

Rockies owner Dick Monfort issued a statement, saying, “We are proud that Coors Field will continue to be a vital part of a vibrant city, drawing fans from near and far and making our Colorado residents proud.”

The Rockies moved into Coors Field in 1995. It is the National League’s third oldest stadium. In that span of time, the Rockies have made the playoffs three times, the last coming in 2009 when they lost in the NLDS to the Phillies. The Rockies were swept in the 2007 World Series by the Red Sox.