Fred Wilpon

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 sign Jorge De La Rosa to minor league deal

ARLINGTON, TX - AUGUST 10:  Jorge De La Rosa #29 of the Colorado Rockies throws against the Texas Rangers in the first inning at Globe Life Park in Arlington on August 10, 2016 in Arlington, Texas.  (Photo by Ronald Martinez/Getty Images)
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The Diamondbacks have signed free agent left-hander Jorge De La Rosa to a minor league deal, per a team announcement on Sunday. The contract includes an invitation to spring training. Nick Piecoro of AZCentral.com adds that De La Rosa stands to make $2.25 million if he secures a spot on the major league roster, with up to $600,000 in incentives if he pitches out of the bullpen and up to $1 million in incentives if he pitches out of the starting rotation.

The 35-year-old is expected to compete for a bullpen role after spending the better part of a decade in the Rockies’ rotation. He capped a nine-year run with Colorado in 2016, finishing the year with a 5.51 ERA, 4.2 BB/9 and 7.3 SO/9 over 134 innings. Despite his struggles out of the rotation, he found limited success in a three-game stint in the bullpen, striking out 10 of 26 batters and holding the opposition to just three hits and one earned run in eight innings.

The veteran lefty is set to join a bullpen comprised of right-handers Randall Delgado, Jake Barrett and Fernando Rodney, along with a number of unproven candidates on similar minor league contracts. His age and command issues may be off-putting, but the promise he showed as a reliever should give the Diamondbacks some upside as they attempt to redeem a league-worst bullpen in 2017.

Josh Donaldson out 2-3 weeks with calf injury

TORONTO, CANADA - SEPTEMBER 13: Josh Donaldson #20 of the Toronto Blue Jays looks on from the top step of the dugout as he sits out his second straight game during MLB game action against the Tampa Bay Rays on September 13, 2016 at Rogers Centre in Toronto, Ontario, Canada. (Photo by Tom Szczerbowski/Getty Images)
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Blue Jays’ third baseman Josh Donaldson is expected to miss up to three weeks with a right calf strain, reports John Lott. Donaldson reportedly felt some discomfort in his calf during sprinting drills on Friday and was diagnosed with what looked like a mild strain after undergoing an MRI on Saturday. According to Lott, the 31-year-old is on crutches for the next few days and will likely miss 2-3 weeks of spring training.

Donaldson had a similar scare at the start of the 2016 season, when he limped out of the batter’s box during the Blue Jays’ first regular season road trip with a right calf strain. He returned to DH two days later, however, and was back on the field in less than a week’s time. Blue Jays’ GM Ross Atkins told MLB.com’s Corey Long that the two calf injuries are unrelated, and expects that Donaldson will recover in similar fashion this spring — well before Opening Day comes around.