The Wilpons may save some money

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No, not by cutting Jeff Francoeur into pieces and selling him for scrap, but by virtue of a law winding its way through Congress that could allow them to hold on to $48 million that, under current law, they might have had to forfeit as a result of their connection to the Bernie Madoff Ponzi scheme.

The law — the details of which are are much better spelled-out in Dan Freed’s column at TheStreet.com — would prevent trustees cleaning up after Madoff-like scams from from collecting earlier investors’ “gains” and redistributing them to later, less lucky investors.  Such a move is called a clawback, and this proposed law would limit the maneuver. The Wilpons actually came out of the Madoff scam with a bit more money in their account than they
started with — $48 million, actually. Under present law, they’d be subject to clawbacks. If the law passes, the Wilpons will likely be in the clear.

Which isn’t necessarily an injustice or anything. On a very basic level, the Wilpons were victims just like the other investors. That they happened to be in earlier than others and thus got the benefit of Madoff’s phony investment gains as opposed to getting the shaft is not their fault. And besides, just because they got more money back than they put in doesn’t mean that they weren’t losers too. Indeed, they thought they were doing way better than their $48 million gain they got and likely structured their lives and businesses accordingly.  Because of this sort of thing clawbacks are controversial and problematic.  I can’t really speak to the merits of this particular law (I’m a bit out of my depth here), but the beliefs that clawbacks often work to unwittingly unjust ends is pretty widely held.

But I do know this much: as things currently stand, the Wilpons, if they have a bit of business sense, have $48 million mentally socked away to be given up in clawbacks later. If the law passes, however, it will be theirs to spend once again.

Maybe — just maybe — they’ll spend it on the Mets. 

Report: Yankees acquire Edwin Encarnación from Mariners

Edwin Encarnacion
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The Mariners are in the midst of reconstructing their roster, a process which most recently resulted in the trade of first baseman/DH Edwin Encarnación to the Yankees, per a report from ESPN’s Jeff Passan. While the teams have yet to publicly confirm the deal, the Mariners are expected to receive pitching prospect Juan Then and will likely eat a significant portion of Encarnación’s salary as well.

Encarnación is a sizable get for the Yankees, who could benefit from the veteran’s power and consistency in their ongoing drive toward the postseason. The 36-year-old infielder missed some time with a bout of lower back tightness, dental issues, and soreness in his left hand, but has still maintained a decent .241/.356/.531 batting line with an AL-best 21 home runs, an .888 OPS, and 1.7 fWAR through his first 289 plate appearances of the year. Per Mark Feinsand of MLB.com, Encarnación has another $11-12 million left on his contract in 2019, with a $20 million option for the 2020 season and a $5 million buyout.

Then, 19, was acquired by the Yankees in a three-person trade with the Mariners during the 2017 offseason. The right-hander currently ranks no. 27 in the Yankees’ system and made his last pro ball appearance for New York’s rookie-level affiliate in 2018, pitching to a 2.70 ERA, 2.0 BB/9, and 7.6 SO/9 across 50 innings. It’s not clear if any other players are involved in the trade, though USA Today’s Bob Nightengale notes that no other prospects are thought to be included in the package for Encarnación.