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.

Diamondbacks return Rule 5 pick Tyler Jones to Yankees

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Diamondbacks’ right-hander Tyler Jones is headed back to the Yankees, the teams announced on Friday. The Diamondbacks had previously selected Jones in the Rule 5 draft last December, but elected to leave the 27-year-old off of their 40-man roster heading into the 2017 season. Rule 5 draft rules stipulate that when a player is not kept on the receiving team’s roster, the player must be offered back to his original team.

Jones signed a minor league contract with the Yankees prior to the 2016 season. He pitched to an impressive 2.17 ERA, 2.2 BB/9 and 13.2 SO/9 over 45 2/3 innings with Double-A Trenton, but was unable to make the leap to Triple-A or beyond during his stay with the organization.

Jones’ outlook with the Diamondbacks appeared slightly more promising. GM Mike Hazen described the righty as a power arm with a “good fastball and power curveball” after selecting him in the Rule 5 draft, and early reports indicated that Jones would be in the mix for a bullpen spot. A rough spring performance — underscored by his lack of experience at the Triple-A and major league levels — undid most of that confidence, however, and the Diamondbacks weren’t willing to keep him on the active roster throughout the entire 2017 season in order to acquire his control rights.

Jones is set to open the season with Triple-A Scranton/Wilkes-Barre, per a report from the Yankees.

Derek Norris signing with the Rays

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Yahoo Sports’ Tim Brown reports that Derek Norris is signing with the Tampa Bay Rays.

Norris was released by the Nationals nine days ago, made redundant by the Nats’ signing of Matt Wieters and by everyone sliding down a notch on the depth chart below him. Norris hit only .186/.255/.328 with 14 home runs and a .528 OPS for the Padres in 2016.

Still, there always seems to be a place for a backup catcher. For Norris that place is Tampa Bay.