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 umps have dropped their Ian Kinsler protest

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Over the weekend the World Umpires Association — the umpire’s union —  launched a protest in response to what it feels is Major League Baseball’s failure to adequately address the “escalating attacks” on the men in blue. They were specifically upset that Ian Kinsler didn’t get suspended for his remarks in which he said that Angel Hernandez should get out of the umpiring business because he’s terrible. Apparently to umpires truth is no defense. In any event, they wore white wristbands Saturday night as a sign of solidarity or whatever.

Now that’s over, it seems. At least for the time being. The Association released this statement yesterday afternoon:

“Today, WUA members agreed to the Commissioner’s proposal to meet with the Union’s Governing Board to discuss the concerns on which our white wristband protest is based. We appreciate the Commissioner’s willingness to engage seriously on verbal attacks and other important issues that must be addressed. To demonstrate our good faith, MLB Umpires will remove the protest white wristbands pending the requested meeting.”

As many noted over the weekend — most notably Emma Span of Sports Illustrated — this protest was, at best, tone deaf. While officials are, obviously, due proper respect, a player jawing at an umpire is neither unprecedented nor very serious compared to, well, almost anything that goes on in the game or in society. At a time when people are literally taking to the streets to protest white supremacy, Neo-Nazis and the KKK, asking folks to spare thoughts for some people who sometimes have to take guff over ball and strike calls is not exactly a cause that is going to draw a ton of sympathy. And that’s before you address the fact that the umpires are not innocent when it comes to stoking the animosity between themselves and the players.

I wouldn’t expect to hear too much more out of this other than, perhaps, a relatively non-committal statement from Major League Baseball and a relatively detail-free declaration of victory by the umpires after their meeting.

 

Minor league teams prepare for a “total eclipse of the park”

Salem Volcanoes
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The Salem-Keizer Volcanoes are a class-A affiliate of the San Francisco Giants. Today, the path of totality of the big solar eclipse we’re not supposed to look at will pass right through the ballpark in which they play. What’s better: the Volcanoes are playing a game against the Hillsboro Hops as it happens.

This was by design: the team’s owner requested this home game when the schedule was made up two years ago specifically to market the heck out of the eclipse. They’re starting the game at 9:30 this morning, Pacific time, in order to maximize the fun. Spectators will receive commemorative eclipse safety glasses to wear. The game will be delayed when the eclipse hits and a NASA scientist named Noah Petro, who is from the area, will talk to the crowd about what is going on.

Salem-Keizer isn’t the only minor league game affected, by the way. There are six games in all which will feature a “total eclipse of the park.” Turn around, bright eyes.

There are no home MLB games going on in the path of totality, but MLB has put together a helpful guide in order to maximize your baseball and eclipse pleasure. If you line up some good beer with that you’l have your very own national pastime syzygy.