The Mets’ talking points have been that, were it not for the Madoff lawsuit, everything would have been hunky dory financially speaking. The New York Times reports this morning, however, that such is not the case:
When the owners of the Mets said in late January that they would seek buyers for up to 25 percent of the club, they cited “the air of uncertainty” created by the $1 billion lawsuit brought by Irving H. Picard, the trustee representing the victims of Bernard L. Madoff’sPonzi scheme.
But a look at the team’s financial condition — gleaned from public financial documents and numerous interviews — suggests the team may well have needed the proceeds from selling part of the team regardless of the suit.
The Times says that the team realized significantly lower revenues upon moving into Citi Field than they had anticipated and that combined with (a) the overall financial downturn; and (b) less-than-stellar on-the-field performances led to the Mets seeking investors on the down low prior to the lawsuit and their public announcement that they were looking for a cash influx.
The lawsuit is there now, of course, and that certainly trumps whatever cash flow issues the Wilpons were facing before in terms of financial uncertainty. But potential investors aren’t going to be on the hook in the lawsuit. They are, however, going to depend on Mets’ cash flow in order to vindicate their investment. If it’s less rosy than we suspect, it may be harder to justify taking the plunge.
Even while injured, Miguel Cabrera is a force to be reckoned with. The 33-year-old slugger has been playing with a contusion on his knee since Wednesday, according to postgame comments made by Tigers’ manager Brad Ausmus.
That didn’t stop him from whacking a 410-foot home run against Atlanta right-hander Matt Wisler on Friday night, skirting the center field fence to put the Tigers up 3-0 in the first inning. In the third, he lead off the inning with another long drive off of Wisler, targeting his changeup for a 421-foot shot, his 38th home run of the season:
It’s Cabrera’s sixth two-run homer game since the start of the season, and his first against the Braves since 2005. He needs just two more home runs to keep an even 40 on the year, which would return him to the kind of league-leading levels that accentuated his MVP case in 2012 and 2013. If he can do it by the end of this Tigers-Braves game (unlikely, but not unheard of), he’ll be the 15th major leaguer to hit four home runs in a single game.
The Reds will roll with manager Bryan Price for at least one more season. Per MLB.com’s Mark Sheldon, Price has been extended through the 2017 season with a club option for 2018. He won’t be the only familiar face leading the team, as the Reds have reportedly asked the entire coaching staff to return as well.
This is Price’s second consecutive season with 90+ losses since Cincinnati signed him to a three-year contract back in 2014. While he hasn’t been able to replicate the same kind of success that former skipper Dusty Baker found in 2012 and 2013, he’s been saddled with a team that’s still in the throes of rebuilding, not one that looks on the cusp of playoff contention. It is, after all, the same team that has not seen a healthy season from Homer Bailey since Price’s arrival, one that unloaded Jay Bruce for a pair of prospects earlier this year and one whose pitching staff set a single-season record for most home runs given up by a major league team.
Justifying Price’s extension requires a different kind of yardstick, one that measures player development and individual success over the cumulative win-loss record. Here, Price has overseen solid performances from contributors like Adam Duvall, who is batting .244/.297/.506 with 2.9 fWAR in his first full major-league season, as well as young arms like Anthony DeSclafani, Brandon Finnegan, and Michael Lorenzen, among others.
From comments made by Reds’ CFO Bob Castellini, Price’s success within a rough rebuilding process appears to have cemented his place within the club, at least for the time being.
I like the young, aggressive team Walt and Dick have put together with players from within our system and from recent trades. […] Bryan has been here seven seasons now. He’s comfortable with the direction we are heading with our young players, and we are comfortable with him leading us in that direction.