The New York Yankees have reached an agreement on a minor league contract with starting pitcher Freddy Garcia, according to ESPN. Garcia will receive a $1.5 million base salary, if he makes the big-league club. He can also earn $3.6 million in possible incentives, topping out at 30 starts, according to a source. It also lets Garcia opt out by March 29, according to a report. Garcia, 35, pitched...
Read MoreYesterday’s news that the Wilpons were exploring their options and looking to sell a minority stake in the team was both surprising and yet unsurprising as well. Surprising, because it came after many statements from the Wilpons who adamantly said time and time again, that the Madoff scandal had very little to no bearing on the Mets operation, and that the scandal was something that only...
Read MoreUpdated Post 6:30 PM The New York Times, citing a source, reported Irving Picard, the trustee charged with recovering funds for Madoff victims, could be seeking as much as $1 billion from the Wilpon family in the sealed lawsuit, by taking into account “their conduct” in addition to “actual Ponzi scheme gains”. “I think Fred Wilpon has a very serious problem,”...
Read MoreHere is the conference call courtesy of SNY. In a nutshell, Fred Wilpon has indicated that the Mets are looking to sell about 20-25% of the team. Considering that the team is worth a staggering number that could come close to one billion dollars, we are talking about a potential investor who can come in with about $200 – $250 million dollars to buy themselves a minority stake in the New...
Read MoreYesterday, I came across a post I wrote almost a year ago that struck me as being somewhat foreboding and maybe even a little bit prophetic. It was intended to be some advice and a word of warning to Omar Minaya, and in it I described a type of philosophy that sounds very familiar today. The title kind of gives it away “Do Star Studded Acquisitions Lead To Winning Seasons?”, but I...
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