baseball

  • 29 May 2012 at 2:30 PM

Plan D: A Hostile Takeover Of The Newark Bears

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“Major League Baseball has approved three potential buyers to review the financial records of the San Diego Padres, team owner John Moores told MLB.com. Moores said one group is headed by movie executive Thomas Tull, another is led by former Dodgers owner Peter O’Malley and the third by billionaire hedge-fund manager Steven Cohen of SAC Capital Advisors. Cohen was an unsuccessful bidder for the Los Angeles Dodgers, who were sold in March.” [Bloomberg, Earlier: Steve Cohen Bids For Dodgers, Earlier: Steve Cohen Bids For Mets]

  • 24 May 2012 at 3:28 PM

What Hank And Hal Steinbrenner Need To Ask Themselves Right About Is, Do We Want $3 Billion Deposited In Our Bank Account In A Friendly Manner Or Do We Want It Violently Shoved Down Our Throats?

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Are the Yankees for sale? “Baseball and financial sources” say yes. People with the last name Steinbrenner say no. Perhaps the latter, though, just needs to meet the right buyer? A buyer who’s got money to spend? A buyer who wants a Major League Baseball team so badly he can taste it? A buyer who has so far bid on not one, not two, but three organizations in the last year? A buyer who  can do this the easy way or the hard way? Read more »

  • 25 Apr 2012 at 3:55 PM

Former Major League Baseball Union Rep Is Sickened By Wall Street Pay

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Last month, Rochedale analyst Dick Bové sent out a note to clients that began with what he dubbed “some interesting stats.” Said stats were salaries of the New York Yankees’ top infielders (“not including promotional deals”!) versus those of JPMorgan’s Jamie Dimon, Wells Fargo’s John Stumpf, Citigroup’s Vikram Pandit, and Bank of America’s Brian Moynihan. The baseball players’ compensation totaled about $80 million, the CEOs’ $65 million. Fair? Bové didn’t think so, noting that while the talentless hacks in the Bronx have won but single World Series in the last 10 years, the banks run by the aforementioned CEOs “impact virtually every American household” (and if pressed to, could surely bring home at least a few Major League Baseball championships).

“Clearly, society values the New York Yankees infield above that of the leaders of the banking industry even without a World Series ring,”  Bové concluded sarcastically, shouting “nailed it” at Mr. Giraffe. Obviously, Bové is of the mind that it’s a crock how little these chief executives are paid considering all they do compared to noncontributing zeroes like Alex Rodriguez and Co. It’s unclear if the former head of MLB’s players’ union caught Bové’s riff or if not but last night he offered something of a rebuttal and, spoiler alert, he thinks Wall Street pay is bull shit. Read more »

  • 15 Mar 2012 at 6:09 PM

New York Mets Might Want To Savor Their Time Under The Tutelage Of Steve Cohen

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…because come next month there’ll (probably) be no “Mr. Cohen, can you help me with my swing” this or “Mr. Cohen, what are your thoughts on polyester uniforms” that. Read more »

  • 12 Mar 2012 at 12:23 PM

One Iota Of Horseplay In The Locker Room And He Would’ve Pulled The Plug On The Whole Thing

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Billionaire hedge fund manager Steven Cohen, considered by many to be a frontrunner in the bidding for the Dodgers, was given a tour of Camelback Ranch-Glendale by vice chairman Jeff Ingram and chief revenue officer Michael Young before Saturday night’s split-squad game with the White Sox…Cohen’s group also includes leading sports agent Arn Tellem and investment banker Steve Greenberg. Seven groups reportedly remain in the bidding for the Dodgers and Dodger Stadium, a sale being conducted by Blackstone Advisors for current owner Frank McCourt, who placed the team in bankruptcy last June. [MLB]

  • 23 Feb 2012 at 10:49 AM

Steve Cohen Hedges Dodgers Deal With Mets Stake, Order Of Fleece-Lined Jock Straps For The Whole Team

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The Mets have received commitments from billionaire hedge-fund investor Steve Cohen and six other investors to purchase $20 million minority shares in their embattled club, sources familiar with the deal told the Daily News on Wednesday. The team expects to secure commitments for three remaining shares in the near future, and hopes to complete the offering soon, the sources said. The Daily News first reported last month that the Mets were close to finalizing at least five of the $20 million shares. The stake in the Mets would not prevent Cohen, ranked 35th last year in Forbes’ “400 Richest People in America,” from purchasing the Dodgers, but he would have to sell his interest in the Mets if he completes the deal for the Los Angeles team. [NYDN, related]

  • 02 Feb 2012 at 11:57 AM

Confidential To Bud Selig: Watch Your Mouth Or He’ll Buy The Whole Fucking National League

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Steven Cohen may yet own the Los Angeles Dodgers. But he still hasn’t given up hope of buying a chunk of his favorite baseball team. The SAC Capital Advisors founder is expected to buy one of the 4% stakes in the New York Mets currently on offer. The Mets plan to sell 10 such stakes—although the team’s current owners plan to buy at least two of the slices—to raise $200 million in an effort to pay down the team’s huge debt, while simultaneously allowing Fred Wilpon and Saul Katz to maintain control of the team…Buying the Mets stake would not keep Cohen from buying the Dodgers—although if he wins the latter, he’d have to sell the Mets share. That could make him a very short-lived Mets owner, as Dodgers owner Frank McCourt is expected to pick his successor by April 1. [FINalternatives]

Steve: Remember That Not Getting An MLB Team Can Sometimes Be A Wonderful Stroke Of Luck

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Over the weekend, the LA Times reported that a group headed by Steve Cohen was among those that advanced to the second round of bidding for the Los Angeles Dodgers. Mark Cuban, “veteran baseball executive” Dennis Gilbert, and former Dodgers players Steve Garvey and Orel Hershiser are out; at the top of Cohen’s elimination list remain Magic Johnson and Joe Torre. Obviously, we have no idea whether or not the SAC Capital manager will emerge victorious. Either way, though, something about all this has been troubling us: namely how acquiring a baseball team figures into SC’s long-term plans. Read more »

  • 07 Nov 2011 at 10:58 AM

Lenny Dykstra Has No Idea What Anyone Is Talking About

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Dykstra, in an exclusive statement to the Daily News, says that at no point had he agreed to participate in [previously announced fight versus Jose Canseco], and that Dan Herman, 26, of Chester County, whom he calls “A starf—er,” booked the fight without his consent and made up quotes in the press, including the Daily News, that Dykstra hated Canseco. Dykstra says that he doesn’t even know Canseco and has no beef with him. “I never agreed to anything,” the embattled Dykstra told us yesterday in an email. “Damon Feldman and Alki David continued to use my name to sell tickets and promote their event up until the last minute. They showed up at my door unexpected, I didn’t even know who they were,” Dykstra explained. He then showed Feldman and David an angry email he sent to Herman Wednesday night, chewing out Herman for booking the fight without his permission. By phone yesterday, Dykstra denied that Herman was ever his business manager. “If he’s my business manager, I’m a f—in’ ballerina,” he told us. [Philly, earlier]

Bill Gross Would Have Beaten His Benchmark Had He Not Eaten Those 500 Basis Points

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Several weeks back, bond manager Bill Gross wrote a very personal letter to investors about feeling fat. In it, he spoke of hating his “spare tire,” feeling self-conscious about wearing a bathing suit, and preferring to be shot dead than getting a glimpse of what his ass has become. Today, Bill sent out another letter, entitled “Mea Culpa,” in which he apologized to PIMCO investors for the poor performance of the firm’s Total Return Fund (which through Wednesday was up a mere 1.1 percent versus the 5.7 percent benchmark). And yet perhaps it is the investors who should be apologizing to Mr. Bill? Read more »

  • 01 Sep 2011 at 12:15 PM

Einhorn Exercises The ‘Fuck This Shit I Am Out of Here’ Clause He Shrewdly Added Post-Mets’ Original Betrayal

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Just sayin: Read more »