The Wilpons may save some money

1 Comment

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. 

Freddie Freeman extends hitting streak to 30 games

ATLANTA, GA - SEPTEMBER 17: Freddie Freeman #5 of the Atlanta Braves waits to bat in the fifth inning against the Atlanta Braves at Turner Field on September 17, 2016 in Atlanta, Georgia. (Photo by Daniel Shirey/Getty Images)
Daniel Shirey/Getty Images
Leave a comment

Braves first baseman Freddie Freeman extended his hitting streak to 30 games with a single to center field in the bottom of the sixth inning of Wednesday night’s win against the Phillies. Prior to that at-bat, he had grounded out, been hit by a pitch, and walked.

Freeman entered Wednesday night batting .382/.477/.673 with 11 doubles, seven home runs, 27 RBI, and 24 runs scored over his past 29 games. Though his numbers are lacking compared to National League MVP Award favorite Kris Bryant, Freeman will get some top-five votes. On the season, he entered Wednesday hitting .307/.404/.576 with 33 home runs, 88 RBI, and 99 runs scored in 673 plate appearances.

Freeman’s 30-game hitting streak is the longest such streak in the majors this season, according to ESPN Stats & Info. He has also reached base safely in 46 consecutive games.

If Mets clinch Wild Card spot, Noah Syndergaard to be limited to 25 pitches on Sunday

WASHINGTON, DC - SEPTEMBER 13:  Noah Syndergaard #34 of the New York Mets pitches in the third inning against the Washington Nationals at Nationals Park on September 13, 2016 in Washington, DC.  (Photo by Greg Fiume/Getty Images)
Greg Fiume/Getty Images
Leave a comment

Mets manager Terry Collins has been scheming out his rotation for the final few days of the season. As ESPN’s Adam Rubin reports, Bartolo Colon may start on short rest against the Phillies on Friday since he threw just 47 pitches in Monday’s loss to the Marlins.

Collins also said that if the Mets clinch a Wild Card spot prior to Sunday’s game against the Phillies, Noah Syndergaard will be limited to only 25 pitches in his start. He would then start the Wild Card game for the Mets. If Syndergaard is needed to pitch a full game against the Phillies, it sounds like Colon would start the Wild Card game, though Collins did not specify.

The Mets are limping to the finish line, having lost five starters in Steven Matz, Jacob deGrom Matt Harvey, Zack Wheeler, and Jon Niese. They’ve also withstood injuries to David Wright, Wilmer Flores, Neil Walker, and Lucas Duda.