On the one hand, this is good to hear. Commissioner Rob Manfred explains to the New York Times that, bad optics aside, putting the debt-ridden, two-time victim of Ponzi schemes in charge of baseball’s finance committee is not a problem because baseball’s finance committee does not actually handle investments. That’s another group altogether, so don’t worry about old Fred giving $50 million Baseball Bucks to some fraudster with a get-rich quick scheme.
On the other hand, the reason Wilpon is in charge of the finance committee is bound to make Mets fans want to tear their hair out. Here’s Manfred:
“The committee — the finance and compensation committee — really deals with two issues, principally: executive compensation, which he’s more than capable of dealing with, and a central office budget. Obviously, to be a successful businessman, you have to know how to budget . . . He understands how the budget process in baseball has worked, and he’s more than qualified to fill that role.”
Yes, Fred Wilpon knows how to budget. As indicated by the fact that his baseball team, which plays in the largest market in the country, currently has a payroll lower than that of the Minnesota Twins.