For those of you following the Wilpon/Mets/Madoff train wreck, there’s a fascinating story in today’s New York Times which suggests that the Wilpons’ legal problems may just be getting started.
The upshot: when Madoff got arrested, the Wilpons and Saul Katz were strapped. Coming to their rescue: as many as eight banks who provided them with financing on which Sterling Equities continues to rely. The Times talks to multiple banking and legal experts who suggest that, in light of the current lawsuit — and all of the ugliness it’s dredging up — the banks could do any number of things, none of which are good for the Wilpons and Katz.
Things like calling in their loans now, which would put even more financial pressure on them to sell the Mets. Another possibility: they could comb through all of their own financial records relating to the Wilpons searching for something — anything — which, in light of the new information we’re all learning, could be used to cast the Wilpons in a bad light.
I don’t pretend to understand the complexity of the financial stuff. But I certainly do understand the overall when-it-rains-it-pours dynamic of these things. We’d all like to believe that people will stand strong with us when things get bad, but when a scandal erupts or a suit gets filed people either run for cover, look for someone else to throw under the bus or both. These banks are no innocents themselves. J.P. Morgan, for example, has its own Madoff-related problems. You can bet that if there’s a way to shift blame to or share blame with someone else, they’ll take it. The first big conversation with the lawyers in any mess like this involves the question of “who else can be invited to this party?”
Every day the Wilpons don’t settle with the trustee is another day when someone, somewhere, will consider jumping on the pile.
Mike DiGiovanna of the Los Angeles Times reports that the Angels have agreed to terms on a minor league contract with right-handed reliever Javy Guerra. The deal includes an invitation to major league spring training.
Guerra was suspended 50 games by Major League Baseball last July after testing positive for a drug of abuse. That suspension is now over, though Guerra is probably ticketed for the Angels’ Triple-A affiliate to begin the 2016 season.
The 30-year-old made just three major league appearances in 2015 for the White Sox before getting outrighted off Chicago’s 40-man roster. He does own a 2.87 ERA in 150 1/3 career innings, but it has come with bouts of inconsistency and unreliability.
Maybe he can get everything going in the right direction with Anaheim.
As first reported by Bill Shanks of Fox Sports 1670, the Braves have signed right-handed reliever Carlos Torres to a minor league contract with an invitation to spring training.
Torres was waived by the Mets in January, somewhat surprisingly, and elected to become a free agent. The 33-year-old ultimately chose Atlanta, where he should have a good shot at an Opening Day roster out of spring training with the rapidly-rebuilding Braves.
Torres posted an ugly 4.68 ERA in 57 2/3 innings last season for the Mets, but he registered a gorgeous 3.06 ERA and 96 strikeouts across 97 innings in 2014.
If he gets off to a good start in 2016, he could become valuable trade bait.
Roberto Osuna became the youngest pitcher to ever play for the Blue Jays last season at age 20 and he rose to the challenge with a 2.58 ERA, 0.92 WHIP, and 75/16 K/BB ratio in 69 2/3 frames. Osuna eventually took over as Toronto’s closer, earning 20 regular-season saves and one in the American League Division Series — a five-out effort in Game 5 to close out the visiting Rangers.
But the Jays upgraded the back end of their bullpen this winter, acquiring Drew Storen from the Nationals in early January for speedy outfielder Ben Revere. Jesse Chavez was also brought to Toronto in a trade with the A’s.
Storen has more experience at closer than Osuna, and Storen struggled when the Nationals tried to put him in a setup role. Storen, in his final year of salary arbitration, also gets paid much more. He’s probably going to enter spring training as the favorite for the Jays’ ninth-inning gig, but there will be a competition …
Blue Jays general manager Ross Atkins told Ben Nicholson-Smith of Sportsnet.ca on Wednesday that he doesn’t expect the team to choose between Osuna or Storen until midway through spring training, if not later.
There’s been talk of making Osuna a starter, so add that wrinkle.
Storen, 28, boasts 95 career major league saves.
Baltimore’s front office appears to be lining up a run of potential roster additions leading into the beginning of spring training.
We’ve already passed along the reports suggesting they are close to a three-year deal with free agent starter Yovani Gallardo, but now FOX Sports’ Ken Rosenthal adds that free agent outfielder Dexter Fowler could be next on the Orioles’ target list. It they get those two deals done, the O’s could then chase free agent slugger Pedro Alvarez.
Rosenthal says the Orioles are even eyeing Jay Bruce of the Reds, though the FOX reporter hears the O’s might not have the prospects to pull off that kind of trade.
The focus for the Orioles out of the gate this winter was re-signing Matt Wieters and Chris Davis. Wieters accepted his one-year, $15.8 million qualifying offer in November and Davis was locked up to a seven-year, $161 million contract in mid-January.
Now the O’s are spending a little leftover cash on late-offseason additions to improve their position in what should be a tight 2016 American League East race.