The Wilpons may save some money

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No, not by cutting Jeff Francoeur into pieces and selling him for scrap, but by virtue of a law winding its way through Congress that could allow them to hold on to $48 million that, under current law, they might have had to forfeit as a result of their connection to the Bernie Madoff Ponzi scheme.

The law — the details of which are are much better spelled-out in Dan Freed’s column at TheStreet.com — would prevent trustees cleaning up after Madoff-like scams from from collecting earlier investors’ “gains” and redistributing them to later, less lucky investors.  Such a move is called a clawback, and this proposed law would limit the maneuver. The Wilpons actually came out of the Madoff scam with a bit more money in their account than they
started with — $48 million, actually. Under present law, they’d be subject to clawbacks. If the law passes, the Wilpons will likely be in the clear.

Which isn’t necessarily an injustice or anything. On a very basic level, the Wilpons were victims just like the other investors. That they happened to be in earlier than others and thus got the benefit of Madoff’s phony investment gains as opposed to getting the shaft is not their fault. And besides, just because they got more money back than they put in doesn’t mean that they weren’t losers too. Indeed, they thought they were doing way better than their $48 million gain they got and likely structured their lives and businesses accordingly.  Because of this sort of thing clawbacks are controversial and problematic.  I can’t really speak to the merits of this particular law (I’m a bit out of my depth here), but the beliefs that clawbacks often work to unwittingly unjust ends is pretty widely held.

But I do know this much: as things currently stand, the Wilpons, if they have a bit of business sense, have $48 million mentally socked away to be given up in clawbacks later. If the law passes, however, it will be theirs to spend once again.

Maybe — just maybe — they’ll spend it on the Mets. 

MLB, MLBPA donate $250,000 for Louisiana flood relief

BATON ROUGE, LA - AUGUST 15:  Richard Schafer navigates a boat past a flooded home on August 15, 2016 in Baton Rouge, Louisiana. Record-breaking rains pelted Louisiana over the weekend leaving the city with historic levels of flooding that have caused at least seven deaths and damaged thousands of homes.  (Photo by Joe Raedle/Getty Images)
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Major League Baseball and the Major League Baseball Players Association announced this morning that they are contributing $250,000 to assist victims of the devastating floods that recently hit Louisiana.

The $250,000 contribution is being divided among three charitable organizations: The American Red Cross will receive a $125,000 contribution and two charities connected to Major League Players – the Baton Rouge Area Foundation and High Socks for Hope – will each receive a $62,500 contribution.

According to the joint press release, several players with connections to the area, including Reid Brignac, Will Harris, Wade LeBlanc, Mikie Mahtook, Anthony Ranaudo and Ryan Schimpf were consulted in determining which organizations would receive funding support.

Nice move, union and league.

Video: Yoenis Cespedes’ bat flip was well-earned, well-executed

NEW YORK, NY - AUGUST 29: Yoenis Cespedes #52 of the New York Mets flips his bat after hitting a walk off home run in the tenth inning to defeat the Miami Marlins 2-1 in a game at Citi Field on August 29, 2016 in the Flushing neighborhood of the Queens borough of New York City. (Photo by Rich Schultz/Getty Images)
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We mentioned this in the recaps this morning but Yoenis Cespedes deserves a post of his own.

He deserves it for his walkoff homer in the tenth inning of last night’s game against the Marlins. He deserves it for the fact that he’s hit five homers and has driven in nine runs in his last ten games while raising his batting average ten points. And, most of all, he deserves it for the magnificent bat flip after watching the ball fly:

Here’s the whole play from MLB.com: