Fred Wilpon, Jeff Wilpon

The Wilpons could sell more than 25 percent of the team

31 Comments

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.

Angel Pagan out four to five days with a strained hamstring

San Francisco Giants' Angel Pagan complains after being called out stealing second base against the San Diego Padres during the ninth inning of a baseball game Thursday, Sept. 24, 2015, in San Diego. The play was reviewed, and Pagan was ruled safe. (AP Photo/Gregory Bull)
AP Photo/Gregory Bull
Leave a comment

Giants outfielder Angel Pagan has been diagnosed with a Grade 1 strain of his left hamstring which will leave him out of action for the next four to five days, Henry Schulman of the San Francisco Chronicle reports. Pagan suffered the injury running the bases during Sunday’s game against the Mets.

The Giants are hopeful that Pagan will avoid needing a stint on the disabled list. For now, they intend to use a combination of Gregor Blanco and Mac Williamson in left field in Pagan’s absence.

Pagan, 34, was hitting well, compiling a .315/.366/.457 triple-slash line along with a pair of homers and stolen bases in 101 plate appearances.

Pablo Sandoval will undergo surgery on his left shoulder

Boston Red Sox third baseman Pablo Sandoval heads to the dugout at the end of the seventh the inning of a baseball game against the Miami Marlins, Wednesday, Aug. 12, 2015, in Miami. The Marlins won  14-6. (AP Photo/Alan Diaz)
AP Photo/Alan Diaz
11 Comments

Update #2 (8:33 PM EDT): Sandoval is expected to miss the rest of the season, ESPN’s SportsCenter tweets.

*

Update (8:06 PM EDT): Per Pete Abraham of the Boston Globe, Sandoval will be undergoing a “significant” operation and faces a “lengthy” rehab.

*

Red Sox third baseman Pablo Sandoval will undergo surgery on his left shoulder, per Jon Morosi of FOX Sports. Sandoval visited Dr. James Andrews on Monday, Evan Drellich of the Boston Herald reports. Sandoval had been on the disabled list since April 13 (retroactive to the 11th) with the shoulder injury.

Sandoval has had a tumultuous 2016 season. He showed up to spring training appearing to be in less than ideal shape. He proceeded to hit a meager .204 in 49 spring at-bats and lost out on the third base job to Travis Shaw. Sandoval went hitless with a walk in seven plate appearances to begin the regular season before the injury woes took hold.

The Red Sox haven’t yet released details, including the timetable for Sandoval’s recovery, so once that is known, we’ll provide updates.

Reds place Devin Mesoraco on the disabled list with a torn labrum

Cincinnati Reds' Devin Mesoraco watches from the dugout during the ninth inning of a baseball game against the Pittsburgh Pirates in Pittsburgh, Saturday, April 30, 2016. The Pirates won 5-1. (AP Photo/Gene J. Puskar)
AP Photo/Gene J. Puskar
Leave a comment

The Reds have placed catcher Devin Mesoraco on the 15-day disabled list with a torn labrum in his left shoulder, C. Trent Rosecrans of the Cincinnati Enquirer reportsRosecrans adds that Mesoraco and the Reds will discuss whether or not the catcher will undergo surgery.

To fill Mesoraco’s roster spot, the club called up catcher Ramon Cabrera from Triple-A Louisville. Tucker Barnhart is expected to start the lion’s share of games in Mesoraco’s absence.

Mesoraco was scuffling prior to the injury, as he was batting a mere .140/.218/.160 with only one extra-base hit and one RBI in 55 plate appearances.

Dodgers’ Josh Ravin suspended 80 games for using a banned substance

Los Angeles Dodgers' Josh Ravin, right, reacts as New York Mets' Lucas Duda (21) runs the bases after hitting a home run during the seventh inning of a baseball game Saturday, July 25, 2015, in New York. (AP Photo/Frank Franklin II)
AP Photo/Frank Franklin II
2 Comments

Update #2 (6:53 PM EDT): Ravin released a statement through the players’ union. Mike DiGiovanna of the Los Angeles Times provides it:

*

Update (6:35 PM EDT): MLB made the announcement.

*

Jeff Passan of Yahoo Sports is reporting that Dodgers pitcher Josh Ravin will be suspended 80 games after testing positive for a banned substance. When it is made official by Major League Baseball, Ravin will be the sixth major league player to earn a suspension after testing positive, joining Dee Gordon, Chris Colabello, Abraham Almonte, Daniel Stumpf, and Jenrry Mejia.

Ravin, 28, hasn’t pitched this year as he broke his arm in a car accident during spring training, but was expected to return before the end of May. He debuted in the majors last season, making nine relief appearances for the Dodgers. He yielded seven runs on 13 hits and four walks with 12 strikeouts in 9 1/3 innings. Ravin made 22 appearances for Triple-A Oklahoma City as well.

Ravin will be eligible to return in early August.