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.
Free agent right-hander Tim Lincecum isn’t ready to hang up his cleats just yet. At least, that’s the word from Lincecum’s agent, Rick Thurman, who says the 32-year-old is still “throwing and getting ready for the season” (via Andrew Baggarly of the San Jose Mercury News).
Lincecum may not be ready to enter retirement, but another quote from Thurman suggests that he’ll be picky about where he pitches next. He doesn’t appear open to pitching overseas, and despite not having a contract for 2017 (or even any serious suitors), the right-hander is set on pitching in the big leagues this year. Whether or not he’s willing to take a bullpen role to do so remains to be seen.
While Baggarly predicts some interest in the veteran righty, there’s not much in Lincecum’s recent history to inspire faith in him as a starter, or even a reliever. He picked up a one-year, $2.5 million contract with the Angels following his hip surgery in 2015, and went 2-6 in 2016 with a 9.16 ERA, 5.4 BB/9 and 7.5 SO/9 over 38 1/3 innings. At this point, a minor league contract seems like the surest path back to major league success, though he’s unlikely to find an open spot on the Giants’ or Angels’ rosters anytime soon.
Free agent right-hander Jeff Manship has reportedly signed with the NC Dinos of the Korea Baseball Organization, according to FanRag Sports’ Jon Heyman. The righty was non-tendered by the Indians in December.
Manship, 32, completed his second season with Cleveland in 2016. He delivered a 3.12 ERA, 4.6 BB/9 and 7.5 SO/9 rate over 43 1/3 innings, a slight decline after posting an 0.92 ERA with the club the year before. During eight years in the major leagues, Manship carries a 4.82 career ERA, 3.6 BB/9 and 6.4 SO/9 in multiple stints with the Twins, Rockies, Phillies and Indians.
The right-hander will be joined by fellow MLB transplants Eric Hacker and Xavier Scruggs, each of whom took one-year deals with the Dinos last month. Steve Adams of MLB Trade Rumors notes that each KBO team is allowed up to three foreign players, so Manship will round out the trio when he joins the roster. Any salary terms have yet to be disclosed.