The Mets have been casting about for investors for a long time now, and they’ve not had a ton of success yet. Yesterday it was reported that one of the $20 million shares they’ve been peddling is going to hedge fund manager Steven Cohen. Today we hear where more of those shares are going. From Richard Sandomir of the New York Times:
Time Warner Cable and Comcast are nearing a plan to finance SNY’s purchase of four shares in the Mets, worth $80 million, said one person with knowledge of the plan who was not authorized to speak publicly.
Kind of convoluted, in that Fred Wilpon and Saul Katz’ company — Sterling equities — owns SNY, and then, in turn, SNY will own a stake of the Mets. Time Warner and Comcast, in turn, own stakes in SNY. Makes my head get all fuzzy thinking about it.
Ultimately, though, the idea seems to be that Time Warner and Comcast don’t want to see the regional sports network they own suffer, and by shooting money, somewhat indirectly, to the Mets, they’re shoring up their network’s programming. Which makes more sense to me than some random rich person giving the Wilpons money as some sort of vanity investment. At least there are stakes here for the cable companies.
Oh, and I suppose I should offer a two-part full disclosure here: (1) Comcast owns NBC and NBC pays me, so you know; and (2) if things go sideways for the Wilpons and Comcast does something nutty like take the Mets over completely, I promise that when I am installed as the team’s Lord Protector that I shall be tough but fair in my administration of its affairs.
MASN’s Roch Kubatko is reporting that the Orioles have “some level” of interest in free agent outfielder Denard Span. The Nationals did not make a $15.8 million qualifying offer to Span, which means he doesn’t come attached with draft pick compensation unlike other free agents such as Alex Gordon and Dexter Fowler.
Span, who turns 32 in February, hit a solid .301/.365/.431 with five home runs, 22 RBI, 38 runs scored, and 11 stolen bases, but took only 275 plate appearances due to back and hip injuries. He underwent season-ending hip surgery in September but is expected to be ready to participate in spring training.
The Mets and Royals have also reportedly shown interest in Span’s services.
ESPN’s Jerry Crasnick reports that the Blue Jays are on the prowl for relievers with closing experience. Ryan Madson is one of the names on their list.
Madson, 35, had a career rebirth with the Royals in 2015. He signed a minor league deal with the club that paid him a salary of $850,000 if he made it back to the majors. Due to a plethora of arm injuries, Madson hadn’t pitched in the majors since Game 5 of the 2011 NLDS against the Cardinals as a member of the Phillies. For the Royals, he wound up becoming a crucial member of the bullpen, finishing with a 2.13 ERA and a 58/14 K/BB ratio over 63 1/3 innings.
While Madson allowed five runs in 8 1/3 post-season innings, he pitched well when it mattered most, as he hurled three scoreless frames in three appearances in the World Series against the Mets.
Madson has closing experience, with 55 career saves. 32 of them came in 2011 when he took over the closer’s role from Brad Lidge.
After signing Marco Estrada and J.A. Happ, and trading for Jesse Chavez, the Jays have bolstered their rotation but it was reported on Saturday that interim GM Tony LaCava is still focused on upgrading the pitching staff.
ESPN’s Buster Olney reports that free agent pitcher Trevor Cahill is looking for a one-year, bounce-back deal. The Pirates are one of the potential teams he is considering.
It’s no surprise that the Pirates are on Cahill’s list. Pirates pitching coach Ray Searage has garnered a reputation as a miracle worker after turning around the careers of a handful of pitchers, including Edinson Volquez, Francisco Liriano, and J.A. Happ. Volquez parlayed a one-year, $5 million deal with the Pirates into a two-year, $20 million deal with the Royals last December. Liriano signed with the Pirates on a one-year, $1 million contract and turned that into a three-year, $39 million deal. Happ, dealt to the Pirates from the Mariners at the most recent trade deadline, just signed a three-year, $39 million contract with the Blue Jays.
Cahill, once a highly-regarded pitching prospect, has scuffled over parts of seven seasons in the majors. The 27-year-old owns a career 4.13 ERA with a 754/427 K/BB ratio in 1,083 2/3 innings. Cahill had some brief success after signing with the Cubs as a free agent in mid-August, compiling a 2.12 ERA in 11 appearances out of the bullpen.
Jon Heyman of CBS Sports reports that the Blue Jays have narrowed their search for a new general manager down to two candidates: current interim GM Tony LaCava, and Indians vice president of player personnel Ross Atkins. Former Jays GM Alex Anthopoulos resigned last month.
LaCava was promoted to interim GM on November 2 and has already made a handful of moves along with new president Mark Shapiro. The club acquired Jesse Chavez in a trade and signed pitchers Marco Estrada and J.A. Happ to multi-year deals.
Atkins worked under Shapiro in the Indians organization for 15 seasons, so it is no surprise that he is a finalist for the open GM position.