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How much financial trouble are the Wilpons in?


The speculation surrounding today’s announcement that the Wilpons are looking to sell a stake in the Mets has included chatter about just how hard the government is going after them as a result of the Bernie Madoff mess.  The short version: the lawsuit filed against the Wilpons is to “claw back” money that Madoff gave to the Wilpons that, in reality, had been taken from investors farther down the pyramid.  And no, it doesn’t matter if the Wilpons knew it was stolen money (which they apparently did not).

Against that backdrop came this tweet from Bart Hubbuch of the New York Post:

One of my sources from #Mets beat told me gov’t seeking $1B(!) clawback from Wilpon/Katz. No way they can keep the team if that’s true.

Hubbuch’s numbers are corroborated by Ken Belson of the New York Times, who has considerably more background here.

Even if these numbers are not accurate, however, the key point is clear: the Wilpons’ current financial situation is going to be directly impacted by how much the government is seeking in its clawback lawsuit. If it’s anything close to figure Hubbuch is reporting, they will have to sell way more than a minority share in the Mets.  Indeed, they’ll likely have to sell the whole team.

*Note: In an earlier version of this post I had referred to Hubbuch as “an NFL writer.”  Which he currently is. I was unaware, however, that was previously on the Mets beat.  I’m told that he has been following the Madoff/Wilpon story closely and that his previous tweets about the situation have been accurate. Apologies to Hubbuch for my dubiousness.

CC Sabathia’s bad weekend in Baltimore made him choose rehab

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It was inevitable that someone would report on what, specifically, was going on with CC Sabathia in the run up to his decision to go into rehab yesterday. And today we have that story, at least in the broad strokes, from the New York Post.

Speaking to an anonymous source close to Sabathia, the Post reports that the Yankees’ starter more or less went on a bender from Thursday into Friday and continued on to Saturday, which resulted in his Sunday afternoon phone call to Brian Cashman in which he said he needed help.

Notable detail: Sabathia is referred to as “not a big drinker” in the story. Which is something worth thinking about when you think of others who have trouble with alcohol. It’s not always about massive or constant consumption. It’s about the person’s relationship with substances that is the real problem. Many who drink a good deal are totally fine. Many who don’t drink much do so in problematic ways and patterns. For this reason, and many others, it’s useful to avoid engaging in cliches and stereotypes of addicts.

Marlins owner Jeffrey Loria may push to trade Marcell Ozuna

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First the Marlins demoted promising 24-year-old outfielder Marcell Ozuna to Triple-A in July, then they kept him there far longer than warranted because of presumed service time considerations, and now they may be looking to trade him.

Barry Jackson of the Miami Herald reports that Marlins owner Jeffrey Loria “is down on him and will consider trading him” despite several members of the front office wanting to keep Ozuna because … well, he has a lot of long-term upside.

Ozuna described being stuck at Triple-A as “like a jail” before finally being promoted back to the majors after hitting .317 with a .937 OPS in 33 games for New Orleans. His plate discipline needs work, but Ozuna has 25-homer power and the range to play center field. If the Marlins make him available via trade a bunch of teams will be calling.