The New York Times reports that Saul Katz, who along with Fred Wilpon own around a 2/3 interest in the New York Mets, wants to sell his ownership stake.
The problem — if he sells his share, that likely deprives Fred Wilpon of his control of the team, because Wilpon doesn’t independently own 50%+ of the team. He runs it now in a partnership with Katz, who has always left baseball operations to Wilpon. If Katz were to structure the sale of his stake in such a way to prevent anyone else from having a share as large as Wilpn’s — say to separate buyers — he’d get way less than what the shares are actually worth given the lack of any team control offered to the buyers.
So, if Wilpon is to keep control of the team he’d have to buy out Katz himself, which is unlikely given the kinds of cashflow problems Wilpon has. Or I suppose he could try to get Katz to agree to take a fraction of what his large interest might go for in breaking it up among multiple buyers. For what it’s worth, Katz and Wilpon are brothers-in-law and business partners outside of the Mets, so I suppose anything is possible.
My guess: this is Katz making some noise and starting what may be a long process of getting out from under the Mets, not the harbinger of anything imminent given Wilpon’s desire to give the team to his son Jeff and given the logistical problems in place.
But, hey, if it allows Mets fans to at least begin to imagine what it’d be like for their team to be owned by people who actually have money to spend on this team I suppose it’s better than nothing.
Ten days ago Nationals ace Max Scherzer said he’d be ready for the start of the regular season. “I’m gonna do it,” Scherzer said.
[Ron Howard from “Arrested Development” voice] — No, he’s not:
Nationals manager Dusty Baker said that Max Scherzer is not on track to be the team’s opening day starter, and will most likely open the season as the third pitcher in the rotation.
He’s still projected to make it to the opening rotation, taking the hill, most likely, on Thursday April 6 against the Marlins. At least if the schedule doesn’t slip any more.
Scherzer, as you probably know, has a stress fracture in the knuckle of his right ring finger, which has messed with his preparation and has caused him to alter his grip a bit. As of now Stephen Strasburg will get the Opening Day nod.
Fortune Magazine has put out a list of The World’s Greatest Leaders. Not the greatest business leaders, not the greatest leaders in a given industry, but the Greatest Leaders, full stop. The greatest according to Fortune: The Cubs’ Theo Epstein.
For some context, Pope Francis was third. Angela Merkel was 10th. Lebron James was the next greatest sports leader, ranked 11th. Take Fortune’s methodology with a grain of salt, however, given that it has John McCain above Merkel — what, exactly, does he lead now? — and Samantha Bee in the top 20.
So what makes Theo the world’s best leader according to Fortune?
The Cubs owe their success to a five-year rebuilding program that featured a concatenation of different leadership styles. The team thrived under the affable patience of owner Tom Ricketts, and, later, under the innovative eccentricity of manager Joe Maddon. But most important of all was the evolution of the club’s president for baseball operations, Theo Epstein, the wunderkind executive who realized he would need to grow as a leader in order to replicate in Chicago the success he’d had with the Boston Red Sox.
I don’t want to take anything away from what Theo has done — he’s a Hall of Fame executive already in my view — but I feel like maybe one needs to adjust for the fact that this is a baseball team we’re talking about. They’re the whole world to us and their brands are nationally and even world famous, but as an organization, sports teams are rather small. There are guys who run reasonably-sized HVAC companies with more employees than a baseball team and they don’t get the benefit of an antitrust exemption and a rule which allows them to get their pick of the best new employees if they had a bad year the year before.
Really, not trying to throw shade here, just thinking that being the spiritual father for 1.2 billion Catholics or running a foundation that serves 55 million needy children — like the woman who comes in at number 14 — is a bit of a tougher trick.
But this will make a great framed magazine article on Theo’s wall in Wrigley Field.