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.

Dave Stewart says Diamondbacks’ early success is proof he was good as GM

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After the completion of the 2016 regular season, the Diamondbacks fired then-GM Dave Stewart and then-manager Chip Hale. Stewart acted as GM for two seasons. His most controversial move occurred in December 2015 when he acquired pitcher Shelby Miller and minor league pitcher Gabe Speier in exchange for outfielder Ender Inciarte and prospects Dansby Swanson and Aaron Blair. After his firing, Stewart blamed his superiors for the trade and said his gut was telling him not to make the trade.

The D-Backs are now led by new GM Mike Hazen and manager Torey Lovullo. The club had a relatively quiet offseason, as its biggest acquisitions were Taijuan Walker and Fernando Rodney. Defying expectations, though, the Diamondbacks enter Tuesday night’s action with a 13-8 record, just a game and a half behind the first-place Rockies. Stewart spoke to Bob Nightengale of USA TODAY Sports and said that the D’Backs’ success shows that he knew what he was doing all along.

This means a lot to me because this is the same team, or very close to the one that I put on the field. So basically all of those guys and baseball analysts who said I didn’t know what I was doing, it showed I knew exactly what I was doing.

Everybody was just beat up and not living up to expectations. So all of a sudden, it’s my fault. Well, it’s not my fault. I couldn’t prevent injuries or jump in their bodies to make them pitch better in the starting rotation. We put the right people on the field. So I don’t think anybody should be surprised how well those kids are playing. They’re healthy now. I knew this was going to happen.

Everyone should have seen it coming.

Not to rain on Stewart’s parade, but the Diamondbacks are five games over .500 in a relatively tiny 21-game sample size. Had his team valued analytics during his tenure, he might have known that. Additionally, few of the players performing well for the team right now are players Stewart himself was responsible for bringing to Arizona. Furthermore, the team’s success doesn’t retroactively justify what he gave up for Miller nor does it justify practically giving away Touki Toussaint and signing a 32-year-old Zack Greinke to a six-year, $206.5 million contract.

During and after his tumultuous tenure with the D-Backs, Stewart has appeared very insecure. When he was fired, he quipped, “Quite frankly, I’ve got better things to do.” He appeared on MLB Network Radio in February to deflect any blame directed at him for the team’s failure. And then there’s his most recent quotes in which he heaps praise on himself for the team’s success.

Stewart was an All-Star starter who finished in the top-three in AL Cy Young Award voting three times in his career. He’s understandably competitive and has probably built up a very strong distaste for failure. Sometimes, though, one has to make peace with the fact that things didn’t go one’s way. Stewart simply appears to be tilting at windmills to protect his ego.

Derek Jeter-Jeb Bush reportedly in agreement to purchase the Marlins

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UPDATE: In the wake of the earlier reports now come multiple reports that, yes, Derek Jeter and Jeb Bush are in agreement to purchase the Miami Marlins. No one in the know is commenting officially, however.

A purchase price is not yet known, though it is expected to be, at a minimum, $1.4 billion, which was the sale price of the Mariners last year. Reports are that Jeter and Bush are still seeking funding sources, but that rival groups have dropped out and that Jeff Loria and the Jeter-Bush team have a handshake agreement.

There are, as we have seen in recent years, a few hurdles to get over, primarily the finalization of funding. But at the moment it appears as if Derek Jeter and Jeb Bush are going to be the next owners of the Miami Marlins.

2:44 PM: There are a couple of confusing and potentially conflicting reports swirling about the Miami Marlins sale right now.

When last we heard, there were two high-profile groups with reported interest. One run by Hall of Famer Derek Jeter and politician Jeb Bush. The other run by Hall of Famer Tom Glavine and . . . son of politician, Tagg Romney.

Today Scott Soshnick of Bloomberg reported that the Jeter-Bush group has “won the auction” for the team. Mike Ozanian of Forbes reported earlier in the day, however, that they haven’t “won” anything. They merely remain the last group standing and that they have submitted a “non-binding indication of interest,” which, as the name suggests, means very little formally. They’re still seeking funding sources. Ozanian reports that the Glavine-Romney team is out.

That’s all a bit confusing, but given how team sales tend to go — slowly, with pretty established and plugged-in sports business types deliberately reporting the progress of negotiations — Ozanian’s report feels a bit more credible. Either way, I’d say it’s way, way too early to photoshop a Marlins cap on old pictures of Derek Jeter just yet.

UPDATE: Then there’s this:

Which does make it sound more official, but leaves open the question of whether Jeter and Bush have the money together.