The Wilpons could sell more than 25 percent of the team

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The New York Times reports today that the proposals fielded by the Wilpons in their efforts to find a “strategic partner” (read: cash infusion) suggest that most of the interested parties are interested in more than the 25 percent share of the Mets that the Wilpons want to sell.  This can be inferred by the fact that the man tasked with selling that share told the times “Let’s just say that a noncontrolling stake could be north of 25 percent.”  Many other bids, the Times reports, are only interested in majority stakes.

This is not surprising. As most observers, this observer included, said at the time of the Wilpons’ announcement that they were seeking an investor, being a minority shareholder in a closely-held corporation is rarely anything a person of means wants to be. There are few people less powerful than a 25 percent stakeholder in such a beast, and unless the cash flow is really impressive — which, at least for the time being may not be the case for the Mets — there is very little upside.

My guess is that if the Wilpons do hold on to a majority stake, their minority shareholder will be way closer to 51 percent than they originally hoped. And he or she may very well have options and opportunities to become the majority shareholder one day.  If not, the Wilpons will be dealing with a much smaller group of investors.

In other Wilpon news, the  Daily News reports that the late mother and brothers outgoing chief counsel of the Securities and Exchange Commission were Madoff investors themselves. And even better, now the brothers are subject to lawsuits by Irving Picard seeking their Ponzi scheme gains.  The News suggests — and I’m sure at least one commenter in this thread will agree — this helps the Wilpons in that, hey, if family members of the SEC were Wilpon investors and they could be duped, how should the Wilpons ever have known?

Another interpretation, however, is that if the family of the SEC’s top lawyer were invested with Madoff, it’s possible that the SEC was less-than-vigilant than it should have been in investigating him, and thus its failure to do so should not be viewed as a legitimate defense of the Wilpons. Sure, such a thing would be an insult to the SEC’s reputation if it had a stellar track record of investigating industries and institutions to which its employees owe allegiance for various reasons.  But that, sadly, is simply not the case.

The SEC has routinely, either because of incompetence or because of conflict of interest, failed to catch and punish those who should be caught and punished for investment misdeeds. And I’m sure that Picard will have witnesses explain that to any jury that sits in judgment of the Wilpons.

The Nats are going to sign Francisco Rodriguez for some reason

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The Nationals bullpen is a tire fire. They’re about to add another tire. Per Jon Heyman of FanRag Sports, Washington is about to sign free agent reliever Francisco Rodriguez.

K-Rod was released by the Tigers last week after posting an ERA of 7.82 over 28 appearances this season. He has a 1.658 WHIP, is allowing 11.9 hits per nine innings and is posting his highest walk rate in five years. Also worth noting: the Detroit Friggin’ Tigers decided that he was not good enough to be in their bullpen.

So, yeah, good luck with that Washington.

The Giants chemistry is suffering because a guy they all hated is gone

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I’ve spent years arguing with people about team chemistry. You know the battle lines on all of that now: people who talk a lot about team chemistry tend to attribute winning or losing to good or bad chemistry, respectively. I tend to think that characterizing chemistry is a retroactive exercise in which teams that win are happy and then cite their happiness as the reason and vice versa. Jim Leyland agrees with me, for what it’s worth, so I’m pretty happy with my take.

Not that I’ll claim a monopoly on wisdom here. I’ve never played on a professional baseball team. I don’t know what it’s like to try to prepare to play baseball while surrounded by jackwagons who don’t get along with anyone. I can’t imagine that makes life easier. Indeed, based on the testimony of players I have spoken to, I will grant that there is at least some intangible yet real benefit if everyone is happy an gelling. I dismiss team chemistry arguments for the most part, but if I ran a team I’d at least try to get rid of bad seeds if their bad seeding was not outweighed by seriously outstanding on-the-field play. You want your workers happy, folks.

All of which makes me wonder what the heck to do about this passage from Ken Rosenthal’s latest column. It’s about the reeling San Francisco Giants. They have all kinds of issues — their offense is putrid, their pitching isn’t much better and they’ve been without their ace most of the year — but today Rosenthal looks at their team chemistry. It’s a quiet and subdued clubhouse, he notes, and it has a lot of people wondering if something is wrong there. What could it be?

Sandoval, who was an often noisy and boisterous presence during his time with the club, departed as a free agent after that season. Pence has suffered a number of injuries in recent years and declined offensively, making it difficult for him to be as vocal as he was in the past. Some with the Giants muse that the team even misses Angel Pagan, who created an odd sort of unity because most of the players disliked him.

Read that last sentence again. And then go on with your talk about how team chemistry is a legitimate explanatory concept regarding what makes teams win or lose as opposed to a post-hoc rationalization of it.

Not that it’s not a good article overall. There’s some interesting stuff about the Giants’ bullpen culture. And, of course, we now know why no one signed Pagan last winter.