Steinbrenner: business savvy even in death

5 Comments

Say what you want about George Steinbrenner, but he was a hell of a businessman. From turning a tiny initial investment in the Yankees into a billion-dollar franchise, to starting his own regional sports network, rarely did the man make a business mistake.  The pattern continued even until his death:

By dying in 2010, the billionaire and long-time
New York Yankees owner’s wealth avoids the federal estate tax, likely
saving his heirs enough money to field an entire team of Alex
Rodriguezes.

Steinbrenner’s
death Tuesday came during an unplanned year-long gap in the estate tax,
the first since it was enacted in 1916. Political wrangling has
stalemated efforts in Congress to replace the tax that expired in 2009.

Because no one really knows his estate plan or the extent of his holdings, it’s hard to tell how much money he saved by going in 2010, but the back-of-the-envelope calculations in the linked article figure that, at a minumum, Big Stein’s heirs have saved $300 million+ by him passing in 2010 instead of 2009 or 2011.

Suggestion: whatever big free agent the Yankees sign this winter be given the nickname “tax break” or “death tax” or something like that.

Report: Teams have inquired with the Angels about Hector Santiago

ANAHEIM, CA - JULY 20:  Hector Santiago #53 of the Los Angeles Angels of Anaheim pitches during the first inning of a baseball game against the Texas Rangers  at Angel Stadium of Anaheim on July 20, 2016 in Anaheim, California.  (Photo by Sean M. Haffey/Getty Images)
Sean M. Haffey/Getty Images
1 Comment

ESPN’s Jerry Crasnick reported on Monday that the Angels have received inquiries from multiple teams concerning starter Hector Santiago. He adds that the club is willing to listen to offers. Jon Morosi of FOX Sports and MLB Network reports that the Marlins are among the teams that have inquired.

Santiago, 28, has pitched to a 4.32 ERA with 96 strikeouts and 47 walks in 110 1/3 innings. Sabermetric statistics such as FIP, xFIP, and SIERA think the lefty has pitched even worse than his ERA indicates however, pitting 2016 as his worst performance to date.

Santiago is earning $5 million this season and will enter his third and final year of arbitration eligibility going into 2017.

We also learned earlier that, in an effort to bolster their starting rotation, the Marlins have also shown interest in Wade Miley of the Mariners and Jeremy Hellickson of the Phillies.

Prince Fielder will undergo season-ending neck surgery this week

SEATTLE, WA - JUNE 10: Prince Fielder #84 takes a swing during a game against the Seattle Mariners at Safeco Field on June 10, 2016 in Seattle, Washington. The Mariners won the game 7-5. (Photo by Stephen Brashear/Getty Images)
Stephen Brashear/Getty Images
4 Comments

The Rangers placed DH Prince Fielder on the disabled list last week due to more neck discomfort. On Friday, Fielder met with Dr. Drew Dossett, who performed spinal fusion surgery on Fielder in 2014 for a herniated disk in his neck. Dossett has recommended another procedure, so Fielder will undergo season-ending surgery this week, Jeff Wilson of the Fort-Worth Star Telegram reports.

Fielder was having a rough season, batting .212/.292/.334 with eight home runs and 44 RBI in 370 plate appearances. He played in only 42 games in 2014, but returned in 2015 looking more like his old self. Unfortunately, neck and back issues are notoriously difficult to fix. Hopefully, this upcoming procedure does the trick for Fielder.

Fielder is owed $24 million per season through 2020, with the Tigers paying $6 million of it per season.