Extra 2%

Review: Jonah Keri’s The Extra 2%: How Wall Street Strategies Took a Major League Baseball Team from Worst to First

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You gotta love it when someone messes up an accepted narrative.  And there hasn’t been a narrative in Major League Baseball over the past several years that has been more widely accepted than “The Yankees and Red Sox have an unfair advantage.”  And, sure, structurally-speaking they do. They’re richer than Croesus and are run by the smartest men in the game.

And for two of the past three years they’ve been beat by the Tampa Bay Rays for the division crown. What gives?

The answer to that question is the major draw to Jonah Keri’s excellent new book The Extra 2%: How Wall Street Strategies Took a Major League Baseball Team from Worst to First.  He covers more ground than that, of course, and we’ll get to that in a minute, but really, no one would read a book about how the Yankees exploited all of the resources at their disposal to win. Er, to continue winning.  Keri’s book is about solving what may be the biggest problem in baseball: how to compete on an inherently unlevel playing field.

And there are no easy answers. This is not Moneyball. It’s not about some would-be genius figure thinking circles around the competition through some breakthrough involving esoteric baseball concepts. It’s about how a couple of former Goldman Sachs colleagues — team owner Stuart Sternberg and president Matthew Silverman — and their friend — former private equity whiz and current Rays GM Andrew Friedman — simply worked harder and smarter in incremental ways. How they have literally applied that “extra 2%” to every move they’ve made in order to grab whatever advantage they can.

And despite the investment banking background of the principals and the phrase “Wall Street Strategies” in the title, this isn’t a book about deceptively simple business theories and it’s not the kind of book that consultants will hand out at seminars in which they peddle the latest in management trends. Which may kind of suck for Keri because there’s a lot of money to be made in that racket, but it’s great for baseball fans because its lack of gimmickry is what makes The Extra 2% the best, most fulfilling look at what it takes to run a successful baseball team I have ever read.

And it’s the comprehensiveness that really sets this book apart. Turning the Rays around wasn’t a matter of some simple, Billy Beanian observation about the value of a handful of sabermetric concepts. It was a baseball challenge, a business challenge, a public relations challenge and a morale challenge. Keri explains the problems the former Devil Rays had in all of these areas and explains exactly how the Sternberg/Silverman/Friedman team dealt with them.

In this Keri eschews Michael Lewis’ tale-telling and character-sketching tendencies in the name of straight-forward reporting.  And while I loved Moneyball, I found –and I think most baseball fans will find — Keri’s approach to be more informative and intellectually fulfilling.  Lewis taught us a lot about the inner-workings of a baseball team, but it was always in service of his dramatic narrative, which wasn’t always easy to accept at the time and hasn’t been unequivocally vindicated in the past eight years. Keri, in contrast, plays things matter-of-factly and simply answers more questions all of us have about what it takes to beat the Yankees and the Red Sox at a fraction of the price.

Which isn’t to say that this is a clinical read.  To the contrary, the book is packed with fun, most particularly when dealing with the Rays’ previous owner Vincent Naimoli, who redefined the concepts of ego, greed, cheapness, pettiness and cluelessness when it comes to running a baseball team.  Those who rooted for the Rays between 1998 and 2005 may get sick to their stomaches reliving Naimoli’s follies, but for the rest of us it’s great theater. Deadspin ran an excerpt of all of this last week for those wanting a taste.  My favorite part is the stuff about Naimoli not allowing employees to have Internet access.  As late as 2003. Yikes.

One other thing that those of you who read a lot of non-fiction will appreciate is Keri’s writing style.  There seems to be a tendency these days for non-fiction writers to mess around a lot and get all cutesy in the name of stamping their work with their personal brand. I’m thinking of guys like Malcolm Gladwell and others who mistake sophistry for analysis and who try to infuse every other sentence with a “gee whiz!” tone that tells you that what you are reading Is Truly Important. Keri doesn’t do that. He’s engaging without drawing too much attention himself. He’s straightforward but doesn’t eschew flavor. It breezes along but never feels too light.

More generally speaking, it’s a book in which the subject — and not the author’s decision to tackle the subject — is the main point.  That may seem like an odd thing to say, but for most of the non-fiction I’ve read in the past five years, it seems like the majority of the effort was put in the book proposal and, once it was accepted and the advance paid, the rest was just filled out around it.  “See my neat nut of an idea!” the author seems to say. “Now let’s see how many anecdotes I can string together in order to show you just how neat an idea I had!”  To the contrary, Keri tells a story that teaches us stuff. He didn’t set out to make a point and then search for a story that supported it.

The Extra 2% is one of the best baseball books I’ve read in recent years and I recommend it highly.  If you care a lick about what it takes to run a baseball team — or if you care a lick about the inequalities between baseball’s haves and have-nots — you should definitely pick up a copy.

And stay tuned, because later this morning I’ll be running a Q&A with Jonah in which he (a) reveals the single most important move in the ascendancy of the Tampa Bay Rays; and (b) explains why — contrary to everyone who is sleeping on them — the Rays will most certainly be in the thick of things in the AL East this year.

Cubs expected to host an All-Star Game in the near future

A general view of Wrigley Field and the newly renovated bleachers during the second inning of a baseball game between the the Chicago Cubs and Cincinnati Reds Thursday, June 11, 2015,  in Chicago. Chicago won 6-3. (AP Photo/Paul Beaty)
AP Photo/Paul Beaty
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The 2016-18 All-Star Games are spoken for, but the Cubs could play host not long thereafter according to commissioner Rob Manfred, Bruce Levine of CBS Chicago reports.

The Padres are hosting at Petco Park this year, the Marlins will host at Marlins Park next season, and the Nationals will host in 2018 at Nationals Park. That will make four consecutive National League hosts and five if the Cubs get it in 2019. In the past, the National and American Leagues have alternated hosting privileges. That is sort of important now since the league that wins the All-Star Game gets home field advantage in the World Series.

The Cubs last hosted the All-Star Game in 1990 and have hosted a total of three times (1962 and 1947 being the other years) since its inception in 1933.

Wrigley Field has been undergoing renovations which are expected to be completed by the 2019 season. Manfred said that the Cubs hosting the All-Star Game “will provide the Cubs and Ricketts family a chance to showcase the unbelievable renovation they are in the midst of doing for Wrigley field.”

Update: Here’s a table showing the last time each team hosted the All-Star Game.

Team Park Last Hosted Yrs Since Notes
Dodgers Dodger Stadum 1980 35
Nationals Olympic Stadium (Expos) 1982 33 2018 host
Athletics Oakland-Alameda County Coliseum 1987 28
Cubs Wrigley Field 1990 25
Blue Jays SkyDome 1991 24
Padres Jack Murphy Stadium 1992 23 2016 host
Orioles Oriole Park at Camden Yards 1993 22
Rangers The Ballpark in Arlington 1995 20
Phillies Veterans Stadium 1996 19
Indians Jacobs Field 1997 18
Rockies Coors Field 1998 17
Red Sox Fenway Park 1999 16
Braves Turner Field 2000 15
Mariners Safeco Field 2001 14
Brewers Miller Park 2002 13
White Sox U.S. Cellular Field 2003 12
Astros Minute Maid Park 2004 11
Tigers Comerica Park 2005 10
Pirates PNC Park 2006 9
Giants AT&T Park 2007 8
Yankees Yankee Stadium 2008 7
Cardinals Busch Stadium 2009 6
Angels Angels Stadium of Anaheim 2010 5
D’Backs Chase Field 2011 4
Royals Kauffman Stadium 2012 3
Mets Citi Field 2013 2
Twins Target Field 2014 1
Reds Great American Ball Park 2015 0
Marlins Never Hosted 2017 host
Rays Never Hosted

Kyle Hendricks and Adam Warren will compete for No. 5 spot in Cubs’ rotation

Chicago Cubs pitcher Kyle Hendricks throws during the first inning of Game 3 of the National League baseball championship series against the New York Mets Tuesday, Oct. 20, 2015, in Chicago. (AP Photo/David J. Phillip)
AP Photo/David J. Phillip
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Expect Kyle Hendricks and Adam Warren to battle it out for the fifth spot in the Cubs’ starting rotation this spring, writes Gordon Wittenmyer for the Chicago Sun-Times. Clayton Richard could serve as a fallback option as well.

Hendricks, 26, pitched well in his first full season in 2015. He finished with a 3.95 ERA and a 167/43 K/BB ratio over 180 innings. That was a solid follow-up to his rookie campaign in 2014, when he posted a 2.46 ERA over 13 starts.

The Cubs acquired Warren, 28, from the Yankees in the Starlin Castro trade. He contributed both out of the rotation and the bullpen in the Bronx this past season, pitching 131 1/3 innings with a 3.29 ERA and a 104/39 K/BB ratio.

One through four, the Cubs’ rotation is solid with defending National League Cy Young Award winner Jake Arrieta, Jon Lester, John Lackey, and Jason Hammel.

Mets GM Sandy Alderson plans to limit David Wright to 130 or fewer games

David Wright
AP Photo/Kathy Willens
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Mets third baseman David Wright missed four months of the 2015 season due to spinal stenosis. In other words, Wright dealt with a narrowing of his spinal column. Going forward, the Mets plan to be cautious with Wright so as not to overuse him.

As ESPN’s Adam Rubin reports, Mets GM Sandy Alderson plans to have the 33-year-old Wright play in no more than 130 games. Alderson said, “We’re gonna make sure that he’s not overworked. So it’s important for us to find somebody who can play 30 games or so at third base when he’s not in there. But I think we have to be realistic, and not expect that he’s gonna be an absolute everyday [player] out there playing 150 or 155 games. That’s not gonna happen.”

Wilmer Flores played 26 games at third base in his rookie season in 2013, so he could back up Wright as needed. But Alderson mentioned that because Wright would mostly sit against right-handed pitchers, the switch-hitting Neil Walker or Asdrubal Cabrera could get the call at the hot corner.

When he was on the field last season, Wright hit a productive .289/.379/.434 with five home runs and 17 RBI in 174 plate appearances.

Marlins still searching for starting pitching depth

Aaron Harang
AP Photo/Matt Slocum
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The Marlins would like to add “another pitcher or two” before pitchers and catchers report to Roger Dean Stadium in Jupiter, Florida, MLB.com’s Joe Frisaro writes. Among starting pitchers available, Kyle Lohse, Aaron Harang, and Alfredo Simon are candidates for the Marlins, but they may hold out for the possibility of inking a major league contract. Tim Lincecum and Cliff Lee are other potential candidates, per Frisaro.

This offseason, the Marlins signed Wei-Yin Chen to a five-year, $80 million deal and Edwin Jackson for the major league minimum. The back of the rotation, though, is still a question mark as Jarred Cosart, Adam Conley, and Justin Nicolino will compete with Jackson for two spots. David Phelps is dealing with an elbow injury and may or not be ready by Opening Day, but he could function in a swingman capacity as well.