In light of hedge fund manager David Einhorn buying into the Mets, The Wall Street Journal makes an observation this morning:
Einhorn is poised to join a growing number of sports team stakeholders who have come to this highly eccentric vocation bearing one basic skill: the ability to manage enormous sums of money. Over the past decade, hedge-fund managers and elite financiers—many of whom are from New York or who made their fortunes here—have emerged as the first people bankers call when they have a major sports franchise to dispose of.
I suppose courting owners whose skill is “manging enormous sums of money” is preferable to baseball’s old m.o. of courting owners whose calling card seems to be a striking inability to manage enormous sums of money. So hey — progress.
Tigers first baseman/DH Miguel Cabrera is being sued by a woman from Orlando, Florida who claims that he “unilaterally” reduced the amount of his monthly child support payments, Tony Paul of The Detroit News reports. Cabrera, who has three children with his wife Rosangel, also had two children with Belkies Mariela Rodriguez in 2013 and 2015.
Cabrera pays more than $6,200 per month in child support and helped Rodriguez purchase a nearly $1 million house. Rodriguez’s attorney calls Cabrera’s monthly payments “inadequate” because her children don’t quite have the same standard of living as Cabrera’s three children with Rosangel. Cabrera’s legal team accused Rodriguez of “embarking on a mission to extort additional moneys to be used for her benefit under the guise of child support.”
Cabrera, 34, signed an eight-year, $248 million contract extension with the Tigers in March 2014, which officially began in 2016. He made $22 million in 2014-15, $28 million in 2016-17, and will earn $30 million from 2018-21 and $32 million in 2022-23.
Along with reduced child support payments, Rodriguez alleges Cabrera left her “high and dry” when it came to monthly expenses with the house he helped her purchase.
Cabrera has requested that the judge recuse herself from his case, as her husband has a title with Rodriguez’s lawyers’ law firm following a merger. He is scheduled to be questioned under oath during a videotaped deposition on Thursday in Orlando. Rodriguez is scheduled for her deposition on Friday.
Cabrera is not the only player to find himself embroiled in such a case. Bartolo Colon was also sued for back child support for a “secret family” last year.