Derek Jeter: Yankees owner

Leave a comment

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.

Gerrit Cole set to begin throwing program

PITTSBURGH, PA - AUGUST 24:  Gerrit Cole #45 of the Pittsburgh Pirates sits in the dugout in the second inning during the game against the Houston Astros at PNC Park on August 24, 2016 in Pittsburgh, Pennsylvania. (Photo by Justin Berl/Getty Images)
Getty Images
Leave a comment

During the Pirates’ FanFest on Saturday, right-hander Gerrit Cole announced that he is back up to full health after being shut down with elbow inflammation in September. Per Rob Biertempfel of the Pittsburgh Tribune-Review, Cole said he’ll start a throwing program on Monday as he works on regaining his form for the 2017 season.

The 26-year-old pitched through 116 innings for the Pirates in 2016, delivering a 3.88 ERA and 2.5 WARP before landing on the disabled list in June with a triceps strain and again in August with elbow inflammation. It was a steep drop for the right-hander, who saw a considerable spike in his ERA and BB/9 rate and struggled to strike out batters at the 8.7 mark he managed in 2015.

The upside? Inflammation was the worst of Cole’s issues in 2016, and while the newfound health issues didn’t help his case for an extension, a more serious injury doesn’t appear to be on the horizon.

The White Sox wanted Astros’ top prospects for Jose Quintana

CHICAGO, IL - AUGUST 27:  Jose Quintana #62 of the Chicago White Sox pitches against the Seattle Mariners during the first inning at U.S. Cellular Field on August 27, 2016 in Chicago, Illinois.  (Photo by Jon Durr/Getty Images)
Getty Images
3 Comments

The Astros, Braves and Nationals came sniffing around White Sox left-hander Jose Quintana during the Winter Meetings, but each appeared to find the Sox’ asking price well beyond what they were willing to give up for the starter. On Saturday, Peter Gammons revealed that the White Sox had floated Francis Martes, Kyle Tucker and Joe Musgrove as a possible return for Quintana.

It’s a strategy that worked well for Chicago in the past, most recently when they dealt Chris Sale to the Red Sox for Yoan Moncada and Michael Kopech, among others, and flipped Adam Eaton to the Nationals for a trio of pitching prospects. Astros’ GM Jeff Luhnow didn’t appear eager to sacrifice some of his core talent to net a high-end starter, however, and told the Houston Chronicle’s Jake Kaplan as much on Wednesday:

We’re prepared to trade players to improve our club right now. […] We’re just not prepared to trade away players that are core to our production in 2017, and those are sometimes the players that are required to get these deals done.

While Lunhow was speaking specifically to the inclusion of third baseman Alex Bregman in future deals, it’s not unrealistic to think that top prospects Francis Martes and Kyle Tucker would also be considered instrumental to the Astros’ plans for the next few seasons.

Martes, 21, currently sits atop the team’s top prospect list on MLB.com. The right-hander blazed through his first full season in Double-A Corpus Christi, posting a 3.30 ERA and career-best 9.4 K/9 over 125 1/3 innings in 2016. Tucker, meanwhile, profiles as the Astros’ second-best prospect and made a successful jump to High-A Lancaster last season, slashing .339/.435/.661 in 69 PA. Rookie right-hander Joe Musgrove is the only player left off the top prospect list, but he got off to a decent start with the club in 2016 as well, going 4-4 with a 4.06 ERA and 3.44 K/BB rate in 62 innings during his first major league season.