Texas Rangers

Fay Vincent has a (severely flawed) idea about how to compensate players

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Former baseball commissioner Fay Vincent has a column in today’s Wall Street Journal in which, after noting how businessmen and actors get an equity stake or points on the gross in their deals, why baseball players can’t do the same thing and take an ownership interest in the team:

Mr. Pujols will in all likelihood negotiate a salary of around $35 million annually in a four- or five-year agreement. He and his agent will surely notice the enormous bite the tax collectors will take of that income. Why not take some of the pay in the form of a piece of the Cardinals franchise? Who would argue the Cardinals are not more valuable if they can keep him?

First: $35 million? Really? I kind of figured it would be like $30 million, but let’s save that for another day.

Second: As Vincent himself notes, baseball prohibits players from owning a stake in their team unless they get approval from the commissioner and unless, pursuant to Major League Rule 20(e), they sell their stake in the team if they switch teams.  Specifically, that rule provides that the agreement “shall provide for the immediate sale (and the terms there of) of such stock or other proprietary interest or financial interest in the event of the [player’s] transfer to or joining another Club.”

I’m just a dumb litigator, but I don’t think I’m wrong when I say that a player-ownership scenario that is designed to provide tax savings and greater flexibility is a tad bit hampered by a rule that requires the stake be divested immediately if the player switches teams.  That, my friends, would lead to an immediate taxable event. It would also severely hamper the value of the ownership stake, which would piss off both the player and the team’s majority owners, who likely don’t want to have to force chunks of the team out into the market the moment the team’s GM comes up with a spiffy trade.

Sure, you could change the rules about immediate divestment upon being traded, but then you run into the uncomfortable scenario of someone playing for the Cardinals, for example, who owns a stake in the Cubs. Or a Dodgers player — Juan Uribe, for example — whose wealth depends on the Giants having a greater franchise value.  In an age where franchise values are dependent upon regional sports network ratings, and those ratings are dependent upon winning and losing, that’s a recipe for disaster, is it not?

In other news, for all of Fay Vincent’s virtues, the game is way healthier, financially speaking, today than it was when he was commissioner. If this article is evidence of his business acumen, there may be a reason for that.

Jeff Locke signed by the Marlins

LOS ANGELES, CA - AUGUST 13: Relief pitcher Jeff Locke #49 of the Pittsburgh Pirates throws against the Los Angeles Dodgers during the eighth inning of the baseball game at Dodger Stadium Stadium August 13, 2016, in Los Angeles, California. (Photo by Kevork Djansezian/Getty Images)
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Ken Rosenthal reports that the Marlins have signed lefty Jeff Locke. Terms have yet to be disclosed.

Locke was non-tendered by the Pirates last week after putting up a 5.44 ERA over 127.3 innings in 2016. He’s just 29 and, even if he’s never been super great or anything, he has pitched better in the past, posting a career 4.16 ERA before last season.

Quote of the Day: Kevin Cash gets a dig in on Chris Sale’s jersey-shredding ways

ST. PETERSBURG, FL - SEPTEMBER 21:  Manager Kevin Cash of the Tampa Bay Rays smiles as players on his bench celebrates a home run during the third inning of their game against the New York Yankees at Tropicana Field on September 21, 2016 in Tampa, Florida. (Photo by Joseph Garnett Jr. /Getty Images)
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OXON HILL, MD — Rays manager Kevin Cash got a good dig in on the Red Sox’ newest pitcher this morning.

Sale, as you likely remember, made headlines in July when he was suspended for five games and fined after shredding the White Sox’ 1977 throwback jerseys with a razor blade because he thought they were uncomfortable and didn’t want to wear them. The uniforms Sale destroyed cost the club $12,000.

Sale is with the Red Sox now, of course, and as a new division rival, Cash was asked to comment on Boston’s acquisition of the lefty. Here’s what he said:

Q. What was your first reaction yesterday when you saw or heard what Boston did?

CASH: No, it helped — our marketing department can now figure out when to do throwback jersey day, so we’re good.

Sick burn.