The Wilpons are looking to sell a minority stake in the Mets

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As everyone know, Fred Wilpon was taken for a bunch of money in the Bernie Madoff scam.  Yeah, he “broke even” in the sense that he got back his investment, but that was just because he was one of the early lucky ones who got their ponzi scheme money back.  It wasn’t real investment earnings, and because of the way the law works with respect to ponzi schemes, Wilpon is probably going to be on the hook to give back the phony earnings Madoff gave him in order to make those who truly lost their shirts whole again.  There’s a lawsuit to that effect pending right now, and eventually Wilpon will likely have to fork over an awful lot of money.

It is then little surprise that today the Wilpons announced that the Mets ownership group is looking for “strategic partners” to “provide additional assurance that the New York Mets will continue to have the necessary resources to fully compete and win.”  Translation:  we’re looking to sell a stake in the team so we can get some cash.

The Wilpons say in their statement — the entirety of which is reprinted below — that they intend to maintain majority control of the team.  Of course, as in war, no battle plan ever survives contact with the enemy, so it’s not like they can promise that they’ll keep control.  If someone is willing to bail them out in a highly beneficial manner but demands majority control of the team, the Wilpons would have to consider it, right?

It’s been known for some time that another shoe could drop with respect to the Madoff business, and this is apparently it.  In the short term, however, it shouldn’t have much of an impact on the Mets as a baseball team.  They were already facing big payroll obligations for 2011 and have set out on something of an austerity plan in light of it.  They haven’t made big moves this winter and clearly aren’t poised to do so until the payroll goes down.

In the long term: this could mean major changes for the Mets franchise.

Fred Wilpon, Chairman and Chief Executive Officer of the New York Mets, and Jeff Wilpon, Chief Operating Officer of the New York Mets, issued the following statement:

As Sterling Equities announced in December, we are engaged in discussions to settle a lawsuit brought against us and other Sterling partners and members ofour families by the Trustee in the Madoff bankruptcy. We are not permitted to comment on these confidential negotiations while they are ongoing.

However, to address the air of uncertainty created by this lawsuit, and to provide additional assurance that the New York Mets will continue to have the necessary resources to fully compete and win, we are looking at a number ofpotential options including the addition of one or more strategic partners. To explore this, we have retained Steve Greenberg, a Managing Director at Allen & Company, as our advisor.

Regardless of the outcome of this exploration, Sterling will remain the principal ownership group of the Mets and continue to control and manage the team’s operations. The Mets have been a major part of our families for more than 30 years and that is not going to change.

As we have said before, we are totally committed to having the Mets again become a World Series winner. Our fans and all New Yorkers deserve nothing less.

Diamondbacks return Rule 5 pick Tyler Jones to Yankees

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Diamondbacks’ right-hander Tyler Jones is headed back to the Yankees, the teams announced on Friday. The Diamondbacks had previously selected Jones in the Rule 5 draft last December, but elected to leave the 27-year-old off of their 40-man roster heading into the 2017 season. Rule 5 draft rules stipulate that when a player is not kept on the receiving team’s roster, the player must be offered back to his original team.

Jones signed a minor league contract with the Yankees prior to the 2016 season. He pitched to an impressive 2.17 ERA, 2.2 BB/9 and 13.2 SO/9 over 45 2/3 innings with Double-A Trenton, but was unable to make the leap to Triple-A or beyond during his stay with the organization.

Jones’ outlook with the Diamondbacks appeared slightly more promising. GM Mike Hazen described the righty as a power arm with a “good fastball and power curveball” after selecting him in the Rule 5 draft, and early reports indicated that Jones would be in the mix for a bullpen spot. A rough spring performance — underscored by his lack of experience at the Triple-A and major league levels — undid most of that confidence, however, and the Diamondbacks weren’t willing to keep him on the active roster throughout the entire 2017 season in order to acquire his control rights.

Jones is set to open the season with Triple-A Scranton/Wilkes-Barre, per a report from the Yankees.

Derek Norris signing with the Rays

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Yahoo Sports’ Tim Brown reports that Derek Norris is signing with the Tampa Bay Rays.

Norris was released by the Nationals nine days ago, made redundant by the Nats’ signing of Matt Wieters and by everyone sliding down a notch on the depth chart below him. Norris hit only .186/.255/.328 with 14 home runs and a .528 OPS for the Padres in 2016.

Still, there always seems to be a place for a backup catcher. For Norris that place is Tampa Bay.