Feeding Frenzy

The Wilpons have more than just the bankruptcy trustee to worry about

8 Comments

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.

CC Sabathia wants to pitch beyond 2017

BOSTON, MA - SEPTEMBER 18: CC Sabathia #52 of the New York Yankees pitches during the fifth inning against the Boston Red Sox at Fenway Park on September 18, 2016 in Boston, Massachusetts. The Red Sox won 5-4. (Photo by Rich Gagnon/Getty Images)
Rich Gagnon/Getty Images
2 Comments

CC Sabathia‘s contract with the Yankees expires after the 2017 season but the lefty feels that he has enough left in the tank to pitch in 2018 and beyond, Mark Feinsand of the New York Daily News reports.

Sabathia said, “I just know myself. I know I feel like it’s not my time yet. Barring any crazy injuries I know I can pitch past next year. I feel like this is just the beginning of what I’m trying to do. I feel like there’s a lot more still to learn and a lot better to get. It’s exciting.”

The 36-year-old lefty currently holds a 4.02 ERA and a 144/63 K/BB ratio in 172 1/3 innings. It’s his best and healthiest season since 2012. He battled a knee injury last season and checked into rehab for alcohol addiction last October. Sabathia said that being treated for his addiction put him “in a good spot.”

Sabathia is owed $25 million through a vesting option for the 2017 season.

Red Sox lose on Mark Teixeira’s walkoff grand slam, but still clinch AL East

NEW YORK, NY - SEPTEMBER 28:  Dustin Pedroia #15 and pinch runner Marco Hernandez #41 of the Boston Red Sox celebrate after both scored in the eighth inning against the New York Yankees at Yankee Stadium on September 28, 2016 in the Bronx borough of New York City.  (Photo by Jim McIsaac/Getty Images)
Jim McIsaac/Getty Images
6 Comments

 

The Red Sox can thank the Orioles for not having to fight to clinch the division on Thursday or later. The Orioles came from behind to defeat the Blue Jays 3-2 on Wednesday evening, clinching the AL East for the Red Sox.

A few minutes after that game went final, the Red Sox squandered a 3-0 lead taken in the eighth inning, culminating in a walk-off grand slam by Mark Teixeira in the bottom of the ninth inning. Closer Craig Kimbrel started the ninth, but didn’t have control over any of his pitches. He allowed a leadoff single followed by three consecutive walks to force in a run. Joe Kelly relieved Kimbrel and seemed to be close to wriggling out of the jam, getting Starlin Castro to strike out looking and Didi Gregorius to pop up. But after starting Teixeira with a first-pitch curve ball for a strike, Teixera clobbered a 99 MPH fastball, sending it over the fence in right-center to end the game.

For the Yankees, the come-from-behind victory was crucial as it staved off Wild Card elimination for one more day.

This is the first time the Red Sox have clinched the AL East since 2013, also the last year they won the World Series.