That’s free and clear, after paying taxes and taking an offset for the debt assumed by the Dodgers’ new owners, reports Bill Shaikin of the L.A. Times.
We know this because he’s in court right now, trying to fight off a challenge from Jamie McCourt. Jamie is now trying to get a better deal than the one she walked away with when they settled their divorce. Her deal: $131 million, tax free. She now claims that Frank committed fraud when they settled, misleading her as to the value of the team. Of course, at the time, most folks thought she was getting a pretty good deal, being able to walk away from what then appeared to be a doomed business. Which she helped doom.
As for Frank, I’m struggling to think of anyone who has done better financially while making so many dumb and questionable decisions while running a baseball team. It’s either a testament to how hard it is to go broke as a team owner or a testament to how naive I am about how capitalism works at its highest levels.
The Padres announced on Sunday that the club signed pitcher Jordan Lyles to a one-year major league contract with a club option for 2019. According to Jon Heyman of FanRag Sports, Lyles will earn $750,000 in 2018. Pitcher Travis Wood was designated for assignment to create room on the 40-man roster for Lyles.
Lyles, 27, had miserable results between the Rockies and Padres last season, compiling an aggregate 7.75 ERA with a 55/22 K/BB ratio over 69 2/3 innings. While he specifically gave up 24 earned runs in 23 innings across five starts with the Padres, it was a small sample. A full season at the pitcher-friendly Petco Park, as opposed to Colorado’s Coors Field, might help revitalize his career.
Wood, 30, went to the Padres at the non-waiver trade deadline from the Royals this past season. Overall, the lefty posted an aggregate 6.80 ERA with a 65/45 K/BB ratio in 94 innings. He’ll earn $6.5 million this season and has an $8 million mutual option with a $1 million buyout for 2019. So, the Padres are just eating $7.5 million minus the league minimum, assuming Wood latches on elsewhere.