A federal appeals court yesterday gave some bad news to Mets owners Fred Wilpon and Saul Katz: the bankruptcy trustee’s calculation of how much Madoff money they have to return was upheld — and Wilpon and Katz’s much lower calculation denied — meaning that they have to fork over $300 million.
To be clear: this is a separate issue from the “Wilpon and Katz should have known it was a scam” claims that the trustee has been advancing and for which he is seeking some $700 million. That will be taken up Friday in another hearing and, based on some previous indications from the judge, the trustee has an uphill climb in establishing that Wilpon and Katz should be on the hook for that.
But even though this is much smaller in dollars and does not touch on any culpability on the part of the Mets’ owners, it ain’t exactly good news for them either. At least, assuming they don’t have a spare $300 million laying around.
It was first reported that the Blue Jays and Jose Bautista were close to a deal last night. Now Ken Rosenthal reports that the deal is near completion. It will likely a two-year contract in the $35-40 million range.
Bautista had a tough 2016, hitting .234/.366/.452 with 22 home runs and 69 RBI, and some clubs likely considered a long-term deal for the 36-year-old too risky, this leading to the relative lack of reported interest in Bautista by other clubs. But back-to-back ALCS appearances by the Jays and the success and popularity Bautista has experienced in Toronto make his re-signing there a pretty sensible move for all involved.
The Jays, who already lost Edwin Encarnacion to free agency, get their slugger back on a short term deal. Unlike anyone else, they don’t have to give up the draft pick attached to him via the qualifying offer. Bautista, in turn, will make, on average, more than he would’ve made on the qualifying offer if he would’ve accepted it and a raise over the $14 million he made in 2016.
The Padres have signed Trevor Cahill to a one-year, $1.75 million contract.
As recently as the middle of the 2015 season it looked like Cahill’s career would meet a premature end, but after being released by the Braves and signing with the Cubs in August of that season he has been a remarkably effective reliever. He has posted a 2.61 ERA in 61 games in Chicago and has posted a strikeout rate far above his career norms.
He’s not someone you necessarily want taking the hill when the leverage is high, but in San Diego the leverage won’t be all that high all that often.