CORRECTION Mets Sale Baseball

New York Times: the Wilpons were warned that Madoff wasn’t a sound investment


We may have actual legal documents from the case against the Wilpons as early as today, with both sides giving up all pretense of the conciliatory posture that occasioned the documents being sealed in the first place. The gloves are off and the bankruptcy trustee of the Madoff estate and the Wilpons are going at each other full-bore.

And the best thing about it for all of us is that each side has its own media operation: the New York Times is clearly getting passed information and spin from either the trustee himself or from someone sympathetic to his cause. The Daily News, in contrast, is clearly getting passed information and spin from either the Wilpons, their lawyers or from someone sympathetic to their cause. Unless you have a vested interest in the Mets or the Madoff debacle — and condolences to any of you who do — this is all great fun.

Today it’s the New York Times’ turn. Stung, it would seem, by being called lying extortionists by the Wilpons, Team Trustee provides the Times with some information that, if true, undercuts the Wilpons’ assertions that they were just as duped as anyone else by Bernie Madoff.

This comes in the form of a description of a lawsuit filed against the Wilpons last year by the widow of one of their former employees who lost a ton in their Madoff-invested 401K. In it she alleges that  multiple third parties — in one case the investment bank Merrill Lynch — made clear their concerns to Wilpon and his partner Saul Katz about investing with Madoff, yet they continued to invest with Madoff anyway, putting over 90% of the company’s 401K funs in Madoff securities.  The suit also alleges that Madoff had his own money invested with Wilpon’s company, thereby creating a conflict of interest on the part of the Wilpons when it came to deciding where the 401K money should go and how to invest it.

None of which is to say that the Wilpons were actively involved or even technically complicit in Madoff’s fraud. It’s merely to say that, unlike the other duped investors like Wayne Gretzky or Stephen Spielberg or whoever, the Wilpons were under totally different duties, subject to greater information and more closely-related to Madoff than anyone else who has been dragged into this case so far.  That’s what makes them different. That’s also what has them in the mess they’re in now.

I’m sure that the Daily News will counter this somehow. I’m sure a certain commenter who has been showing up in all the Wilpon threads will either echo those talking points or even have them before the Daily News does (uncanny, that!). Which is cool. All is fair in litigation and war. And, to be honest, I like the little back and forth we’ve been having in the comments section. Keeps everyone active and thinking.

But if the counter punch does come, it had better get a tad more refined. Because the more these allegations stack up — from disparate sources, not just the trustee — the less plausible the “Wilpon was totally blindsided by Madoff” line becomes.

And I’m not buying for a second that the Wilpons are in better shape now that settlement talks have broken down, which some are arguing. That’s simply ludicrous.  That is, unless you believe that having allegations splashed all over The Paper of Record that you screwed a widow out of her $300K retirement fund due to your negligence and conflict of interest to be a good thing. And unless you like your legal fees to shoot through the roof and your potential exposure to go from large-but-finite to “who the hell knows?”

Dexter Fowler becomes first black player to play for the Cubs in the World Series

CLEVELAND, OH - OCTOBER 25:  Dexter Fowler #24 of the Chicago Cubs reacts after striking out in the first inning against the Cleveland Indians in Game One of the 2016 World Series at Progressive Field on October 25, 2016 in Cleveland, Ohio.  (Photo by Tim Bradbury/Getty Images)
Tim Bradbury/Getty Images

The last time the Cubs were in the World Series was 1945, two years before Jackie Robinson broke the color barrier in baseball. As such, until Tuesday night, the Cubs never had a black player play for them in the World Series.

Dexter Fowler changed that, leading off the ballgame at Progressive Field against the Indians. Fowler was made aware of this fact three days ago by Rany Jazayerli of The Ringer:

Fowler, in that at-bat, went ahead in the count 2-1 but ended up striking out looking on a Corey Kluber sinker.

Drew Pomeranz does not need arm surgery

BOSTON, MA - OCTOBER 10:  Drew Pomeranz #31 of the Boston Red Sox throws a pitch in the fifth inning against the Cleveland Indians during game three of the American League Divison Series at Fenway Park on October 10, 2016 in Boston, Massachusetts.  (Photo by Maddie Meyer/Getty Images)
Maddie Meyer/Getty Images

Red Sox lefty Drew Pomeranz was of limited utility during the postseason as he began experiencing soreness in his left forearm near the end of the 2016 season. There was some thought that he might need offseason surgery but Pomeranz was examined by doctors who determined that he does not need any surgery, Evan Drellich of the Boston Herald reports. President of baseball operations Dave Dombrowski said:

He has seen the doctor, the doctor looked at him. I can’t really disclose totally everything that was done, but the doctor said no surgical procedure and the doctor feels he will be ready for next spring training for us.

Pomeranz, 27, finished the 2016 regular season with an aggregate 3.32 ERA and a 186/65 K/BB ratio in 170 2/3 innings between the Padres and Red Sox. He operated out of the bullpen during the playoffs, allowing two runs on four hits and two walks with seven strikeouts over 3 2/3 innings.

The Red Sox acquired Pomeranz in a trade with the Padres in July. It was a trade that earned Padres GM A.J. Preller a 30-day suspension from Major League Baseball, as he reportedly kept two sets of medical records in order to deceive trade partners.