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.

Report: White Sox acquire Mark Lowe and Jean Machi from Mariners

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Tacoma Rainiers’ broadcaster Mike Curto reports that the White Sox have acquired veteran right-handed relievers Mark Lowe and Jean Machi from the Mariners in exchange for cash considerations. Neither team has officially confirmed the deal yet.

Lowe, 34, signed a minor league deal with the Mariners in late March. He pitched to a 6.23 ERA in Triple-A Tacoma and tacked on a 4.6 BB/9 and 8.5 SO/9 through 39 innings. He last appeared in the majors with the Tigers, and finished his run in 2016 with a 7.11 ERA through 49 1/3 innings before getting released by the club prior to the 2017 season.

Machi, 35, struggled to find a place in the Mariners’ bullpen this season. A nerve issue in his thumb derailed his efforts at the start of 2017, and he was outrighted to Triple-A after pitching to a 1.17 ERA through 7 2/3 innings in Seattle. In Tacoma, the right-hander’s numbers weren’t too shabby: he split his efforts between the rotation and bullpen and worked a collective 3.44 ERA, 2.0 BB/9 and 7.1 SO/9 through 36 2/3 innings.

Lowe and Machi will help flesh out a White Sox bullpen that has been depleted by recent injuries and trades. They’re expected to report to Chicago’s Triple-A affiliate in Charlotte and could see time in the big leagues by the end of the season.

Yoenis Cespedes: “I’m going to play the last year of my career with Oakland”

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Yoenis Cespedes told Susan Slusser of the San Francisco Chronicle that he wants to finish his career with the Athletics, according to an exclusive interview released on Friday. The Mets’ 31-year-old outfielder praised Oakland manager Bob Melvin, telling Slusser, “I don’t think there’s a better manager than Melvin” and adding that while he didn’t know if a return to Oakland would be possible, his love for the city had not faded.

Melvin, for his part, said he wasn’t surprised that the slugger wants another go-round with his first major league club, even if only as a final hurrah. Cespedes hit well over two and a half seasons with the A’s, compiling a cumulative .262/.318/.470 batting line from 2012 to 2014 and enjoying two postseason runs with the club before he was traded for Jon Lester and Jonny Gomes in 2014.

There’s been relatively little for Cespedes to complain about since his departure from Oakland, of course: he turned in a career-best performance in 2015, slashing .291/.328/.542 with 35 home runs and 6.7 fWAR in back-to-back gigs with the Tigers and Mets, and netted a whopping three-year, $75 million contract prior to the 2016 season. Still, there’s something special about the A’s, as the slugger relayed to teammate Jerry Blevins:

I told Blevins, ‘I don’t know how many years I’m going to play, but I’m going to play the last year of my career with Oakland.’ I don’t know if that’s possible or not, but that’s my goal.

Whether or not Cespedes gets his wish, it’s unlikely he’ll pursue any kind of deal with the A’s for the time being. He’s still owed $23.75 million in 2017 and 2018 and isn’t scheduled to hit free agency until 2019.