Tom Hicks

There is no guarantee that the Wilpons will be able to keep control of the Mets

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Forgive me if I’m not optimistic about the Wilpons’ chances of finding “strategic partners” who will gladly fork over millions in exchange for a minority share of the team, leaving the Wilpons in control. Why am I skeptical? Because the last time a baseball owner was in deep financial trouble and sought minority investors, it didn’t quite turn out the way he planned:

“I’ve been quietly looking for minority investors to come back into the ownership of the Rangers as a way to be prudent in a bad economy,” [Tom] Hicks said. “I’m doing the same thing with the Stars. At the end of the day, I’ll still have 51-to-60 percent of the ballclub and have new partners. That doesn’t change anything.

A little less than a year later Tom Hicks was being squeezed out completely while Mark Cuban and Chuck Greenberg fought tooth-and-nail for total control of the Texas Rangers.

It’s just a simple fact of investment life:  minority shares in non-public entities are not worth anything close to what a controlling interest is worth.  Perhaps the Mets, who likely have a much better potential cashflow than most teams, will still be an attractive investment who is merely interested in saying they own a piece of the team.  But if the Rangers example is any indication, there aren’t a whole hell of a lot of people who want to be silent partners when the majority owner asking for a handout is in financial distress.

The Mets are an extremely valuable property. Their owners are in financial trouble.  This is what most savvy investors call “an opportunity.”  It strains credulity to think that people won’t make some offers for control of the Mets that the Wilpons find awfully hard to refuse.

Your 2016 Winter Meetings Wrapup

national-harbor
Gaylord National Resort
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OXON HILL, MD — The 2016 Winter Meetings are over.  As usual, there was still no shortage of excitement this year. More trades than we’ve seen in the past even if there are still a lot of free agents on the market. Whatever the case, it should make the rest of December a bit less sleepy than it normally is.

Let’s look back at what went down here at National Harbor this week:

Well, that certainly was a lot! I hope our coverage was useful for you as baseball buzzed through its most frantic week of the offseason. And I hope you continue coming back here to keep abreast of everything happening in Major League Baseball.

Now, get me to an airport and back home.

Eighteen players selected in the Rule 5 Draft

rule-5
MLB
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OXON HILL, MD — The Rule 5 Draft just went down here at National Harbor. As always, it was the last event of the Winter Meetings. As usual, you likely don’t know most of the players selected in the Draft, even if a couple may make a splash one day in the future.

In all, 18 players were taken in the Major League phase of the Rule 5. Here they are, with the name of the team which selected them:

Round 1
1. Twins:  Miguel Diaz, RHP, Brewers
2. Reds: Luis Torrens, C, Yankees
3. Padres: Allen Cordoba, SS, Cardinals
4. Rays: Kevin Gadea, Mariners
5. Braves: Armando Rivero, RHP, Cubs
6. D-backs: Tyler Jones, RHP, Yankees
7. Brewers: Caleb Smith, LHP, Yankees
8. Angels  Justin Haley,RHP, Red Sox
9. White Sox:  Dylan Covey, RHP, A’s
10. Pirates: Tyler Webb, LHP, Yankees
11. Tigers: Daniel Stumpf, LHP, Royals
12. Orioles: Aneury Tavarez, 2B, Red Sox
13. Blue Jays: Glenn Sparkman, RHP, Royals
14. Red Sox: Josh Rutledge, INF, Rockies
15. Indians: Holby Miller, LHP, Phillies
16. Rangers: Michael Hauschild, RHP, Astros

Round 2
17. Reds:  Stuart Turner, C, Twins
18. Orioles:  Anthony Santander, OF, Indians

For a breakdown of most of these guys and their big league prospects, check this story out at Baseball America. Like I said, you don’t know most of these guys. And, while there have been some notable exceptions in Rule 5 Draft history, most won’t make a splash in the big leagues.

Each player cost their selecting team $100,000. Each player must remain on the 25-man roster of his new club for the entire season or, at the very least, on the disabled list. If he is removed from the 25-man, the team which selected him has to offer him back to his old team for a nominal fee. Sort of like a stocking fee when you return a mattress or something. Many of these guys, of course, will not be returned and, instead, will be stashed on the DL with phantom injuries.

Aren’t transactions grand?