Remember Steven Cohen? He’s the billionaire hedge fund guy who (a) bought a minority interest in the Mets; then (b) tried to buy the Dodgers; and (c) turned south to San Diego and the Padres when that didn’t work?
Unlucky for him that he couldn’t become a baseball owner no matter how hard he tried. Not so unlucky for Major League Baseball:
U.S. officials for the first time Tuesday implicated Steven A. Cohen, the founder of SAC Capital Advisors LP, in an alleged insider-trading scheme they said was the most lucrative ever to be charged.
Traders in his firm had been tied up with this for a while, but he had been said not to have had any part in it. Cohen is not a defendant in the case, but he’s now mentioned in the criminal complaint as “Investor A” and will likely be a big part of the criminal prosecution coming out of this mess.
Can you imagine if he had got the Dodgers and couldn’t make it to some owners meeting because of a criminal subpoena? Yeah, that woulda been awesome.
Last night we wrote about the rumored deal between the Cardinals and the Athletics for Stephen Piscotty. The deal is now official, with Piscotty going to Oakland for minor leaguers Yairo Munoz and Max Schrock.
Something else emerged about the deal today: a big reason why St. Louis traded Piscotty to Oakland as opposed to another team was so that he could be near his mother, who was diagnosed with Lou Gehrig’s disease last May. Piscotty and his family are from Pleasanton, California, about 35 miles from Oakland.
Here’s Cardinals GM John Mozeliak:
This was certainly a baseball trade — Piscotty became expendable for the Cardinals after they acquired Marcell Ozuna yesterday — but it was one which could’ve been made with any team with a couple of red or white chip prospects. That Mozeliak considered Piscotty’s personal situation in making the deal with the A’s is a credit to him and his staff.
The 26-year-old Piscotty hit .235 with nine homers and 39 RBIs in 107 games last season. He has hit .268 with 38 homers and 163 RBIs in 2+ major league seasons. He agreed to a six-year, $33.5 million contract extension last spring.
As for the prospects in return: Munoz, 22, hit .300 with 13 homers and 68 RBIs this year for Double-A Midland and Triple-A Nashville. Schrock, 23, batted .321 with seven homers and 46 RBIs for Midland, and was a Texas League All-Star.