MLB Pre-Approves 7 Bidding Groups For Mets
While it’s fun to imagine Alex Rodriguez and Jenifer Lopez overseeing the Mets from an ownership suite, they’re not alone in their bidding group … and there are plenty of other competing outfits eyeing the New York organization. At the moment, it’s far from clear just how the ownership transition will turn out.
Seven different groups have received pre-approval from Major League Baseball to pursue the Mets, Scott Soshnick reports at Sportico.com. That includes the three primary bidding groups that have already emerged publicly. The identity of the four other potential suitors remains unknown.
In recent years, we’ve seen teams change hands via differing mechanisms. Last year, John Sherman purchased his hometown Royals in a very quiet, tidy process. The 2017 Marlins sale occurred after a very public, long-running bidding process involving quite a few famous names.
It appears we’re headed for the latter scenario here. While the Mets had seemingly lined up an agreement with minority owner Steve Cohen, that prospective deal collapsed and left the Wilpon ownership group in need of outside bidders.
Under the circumstances, the Wilpons are surely interested in maintaining the interest of a fair number of reasonably serious bidders, at least for the initial phase of the process. First-round bids will be solicited in July, according to Soshnick.
Mets To Sign Second-Rounder J.T. Ginn
The Mets have inked second-round draft pick J.T. Ginn, Tim Healey of Newsday reports on Twitter. He’ll receive a $2.9MM bonus, per Joe DeMayo of SNY.tv (Twitter link).
This puts a bow on the Mets’ 2020 draft class. The club had already inked their other five draftees, with its four selections after Ginn all going for well under the slot values attached to their picks.
The New York org needed every penny to reel in Ginn. He was taken 52nd overall, a position that came with a $1,403,200 pool allocation. Clearly, he wasn’t willing to turn pro for that amount.
Ginn, a draft-eligible sophomore out of Mississippi State, is working his way back from Tommy John surgery. But the Mets obviously feel the talent is compelling enough to roll the dice on a full recovery.
Most draft watchers graded Ginn as a first-round talent, in spite of the obvious risk. He was already selected there once before, but spurned the Dodgers back in 2018. Ginn is said by some to possess a potentially front-of-the-rotation arsenal — a big heater, compelling slider, and promising change-up — though others anticipate he’ll settle in more as a back-of-the-staff starter or late-inning reliever.
Mets Sign Melky Cabrera, Erasmo Ramirez, Gordon Beckham
JULY 1: Cabrera can earn at a $1.1MM annual rate if he makes the roster, Jon Heyman of MLB Network tweets.
JUNE 29: The Mets’ signing spree continued Monday with the additions of outfielder Melky Cabrera, infielder Gordon Beckham and right-hander Erasmo Ramirez. All three have been announced by the club, and all are “expected” to be added to the 60-man player pool, according to the team. They join earlier signees Hunter Strickland and Ryan Cordell in that regard.
At 35 years old, Cabrera isn’t the hitter he once was. That said, the Melk Man also hasn’t batted lower than .273 in the past decade, and his contact skills generally make him a source of a respectable OBP even though he doesn’t walk much.
The switch-hitting Cabrera’s .280/.313/.399 slash with the Pirates last year was below-average on the whole (88 OPS+, 85 wRC+), but he was an average or better hitter in the three preceding seasons. Cabrera carried an .807 OPS into the All-Star break last year, but he hit just .231/.257/.306 down the stretch as his role shrunk. To his credit, he struck out at just a 10.3 percent clip in 2019. He’s no lock to make the roster, but if he can shake off last year’s second-half slide, the Mets could conceivably work him into the DH mix and not need to worry about his glove.
Beckham, 33, inked a minor league pact with the Padres in February but had a rough showing in their initial camp that led to his release. Although he drew five walks, Beckham was hitless in 14 at-bats. He spent the 2019 campaign with the Tigers, hitting .215/.271/.372 with six homers, a dozen doubles and a pair of triples in 240 trips to the plate.
Beckham made his big league debut just one year after being selected with the No. 8 overall pick in the 2008 draft by the White Sox. He wasn’t able to replicate a strong rookie campaign, though, and eventually settled in as a journeyman utility infielder. He’s appeared in the big leagues each year since 2009, but Beckham carries a tepid .237/.300/.367 slash in 3782 plate appearances as a big leaguer.
Ramirez, 30, was a quality arm with the Mariners and Rays from 2015-17, pitching to a combined 3.97 ERA (4.22 FIP) with 7.0 K/9, 2.3 BB/9 and 1.2 HR/9 in 385 1/3 big league innings. A teres major strain wiped out most of his 2018 season, though, and Ramirez has yet to really regain his footing. He spent the 2019 season with the Red Sox’ Triple-A affiliate, for whom he posted a 4.74 ERA with 6.8 K/9 and 3.1 BB/9 in 125 1/3 innings.
Mets Sign Hunter Strickland, Ryan Cordell
The Mets announced Monday that they’ve signed right-hander Hunter Strickland and re-signed outfielder Ryan Cordell, whom they’d previously released. Both received non-guaranteed deals, and both players are “expected” to be added to the Mets’ 60-man pool, per the club.
Strickland, 31, joins the Mets with nearly five years of big league service time under his belt. He was limited by a Grade 2 lat strain last year and struggled enormously when on the mound, pitching to a combined 5.55 ERA in 24 1/3 frames between the Mariners and Nationals. His track record on the mound prior to that unsightly campaign, however, was strong. From 2014-18, Strickland worked to a combined 2.91 ERA (3.40 FIP) with averages of 8.4 K/9, 3.1 BB/9 and 0.7 HR/9.
Of course, Strickland has drawn as much if not more attention for other reasons. He incited a benches-clearing brawl in 2017 after throwing at Bryce Harper — an incident most believe to be the result of a years-old grudge against Harper for homering twice off Strickland in the 2014 NLDS. The next year, upon being pulled from a game after blowing a saved, Strickland punched a door out of frustration and sustained a broken right hand. He required surgery and missed the next six weeks.
Cordell, 28, was once a fairly well-regarded prospect with the Rangers and Brewers but hasn’t put it together in the Majors. He’s had 287 plate appearances at the game’s top level but managed just a .205/.267/.335 slash line in that time. Cordell does possess a more solid .266/.323/.455 slash in three Triple-A seasons, and he’s capable of playing any of the three outfield slots.
MLB, MLBPA Still Discussing Vesting Options, Retention Bonuses
The length of the season, prorated salaries and protocols for health and safety are finally all set in place, but Major League Baseball and the MLB Players Association are still negotiating the manner in which contractual options, performance incentives/bonuses and escalator clauses will be handled, per Ken Rosenthal of The Athletic (subscription required).
Fortunately, an agreement is believed to be “within reach,” per Rosenthal. The league had initially sought to prorate the value of 2021 options using the same formula as 2020 salaries, although the MLBPA obviously pushed back against that notion. There’s still some debate over the handling of vesting options — particularly those that are triggered by reaching a set number of games pitched or plate appearances over the life of multiple seasons. The two sides also must determine how those options would be treated in the event that the season is canceled at any point due to health concerns.
There aren’t too many vesting options in MLB this year, although some of the notable ones include:
- Jon Lester, LHP, Cubs: Lester’s $25MM mutual option ($10MM buyout) for the 2021 season would become guaranteed with 200 innings pitched in a normal season.
- J.A. Happ, LHP, Yankees: Happ’s $17MM club option for the 2021 season would’ve become guaranteed upon making 27 starts or totaling 165 innings in 2020.
- Andrew Miller, LHP, Cardinals: Miller’s $12MM club option for 2021 would have been guaranteed if he totaled 110 games between 2019-20. As Rosenthal explores, there are various ways to interpret how many more games he’d need to pitch to trigger that option — some more beneficial to Miller and others to the Cardinals.
- Charlie Morton, RHP, Rays: Morton’s option is another that comes with a multi-year criteria. His contract calls for a $15MM club option in 2021 if he spends fewer than 30 days on the injured list between 2019-20. The option value decreases if he spends additional time on the injured list. Morton avoided the IL entirely last year. Unlike Miller, who surely hopes the number of appearances he needs to make in 2020 can be prorated, it’d be beneficial to Morton for that number (30) to remain as is. That seems unlikely, but the disparity between the clauses of Miller and Morton illustrates that this isn’t exactly straightforward for the player side. The value of his option
- Kelvin Herrera, RHP, White Sox: Herrera, too, needed 110 games between 2019-20 for his $10MM club option to become guaranteed. He pitched in 57 games last year, leaving him 53 shy of his target.
- Wade Davis, RHP, Rockies: Davis’ $15MM mutual option would’ve converted to a $15MM player option in the event that he finished 30 games. He’d only need to finish out 11-12 games in the shortened 2020 season if the two sides go with a strictly prorated interpretation of the qualifiers.
- Bryan Shaw, RHP, Rockies: Shaw has the same 110-game target for 2019-20 that Miller and Herrera have. He pitched 70 times in 2019 and needed just 40 appearances in 2020 to lock in a $9MM salary for the 2021 campaign.
- Jake McGee, LHP, Rockies: With 60 games pitched or 40 games finished in 2020, McGee would’ve locked in a $9MM salary for the 2021 season. His contract also allowed the option to vest with a with 110 games between 2019-20, but he only pitched in 45 contests last year.
- Stephen Vogt, C, Diamondbacks: Vogt’s contract included a $3MM club option that not only vests but increases to a $3.5MM base upon starting 45 games and appearing n a total of 75 games overall.
- Dee Gordon, 2B/SS/OF, Mariners: Gordon would’ve been guaranteed a $14MM salary for the 2021 season with 600 plate appearances this year. That, of course, was extremely unlikely in the first place, though.
Beyond those options, there are myriad escalator clauses throughout baseball that could be impacted by the shortened schedule. It’s fairly common for club options and/or future salaries to be boosted by steady performance — particularly among players returning from injury. Take Dellin Betances, for instance. His contract with the Mets calls for the value of next year’s $6MM player option to increase by $800K upon pitching in 40 games. He’d receive additional $1MM boosts to that figure for appearing in 50, 60 and 70 games apiece.
The league and the union are also still discussing potential retention bonuses for six-year veterans on non-guaranteed deals. In a typical year, any player with six-plus years of service who finished the preceding season on a 40-man roster qualifies as an Article XX(B) free agent. Such players must either be added to the 40-man roster, released five days prior to Opening Day or paid a $100K retention bonus to remain with the club in the minor leagues. Many players in that situation are released and quickly re-signed to a new minor league deal, but that won’t be possible in 2020 due to the fact that players who are removed from a team’s 60-man pool become ineligible to return to that team this season.
Mets Announce Initial 60-Man Player Pool
Today marks the deadline for teams to submit their initial spring training player pools, which can comprise up to 60 players. Players are not eligible to participate in either a spring training or regular season game until they are included in the pool. Teams are free to change the makeup of the pools as they see fit. However, players removed from a team’s 60-man (for reasons unrelated to injury, suspension, etc.) must be exposed to other organizations via trade or waivers.
Not all players within a team’s pool are ticketed for MLB playing time, of course. Most teams will include well-regarded but still far-off prospects as a means of getting them training reps with no intention of running them onto a major league diamond this season. A comprehensive review of 2020’s unique set of rules can be found here.
The Mets’ initial 45-year player pool consists of…
Right-handed pitchers
- Tyler Bashlor
- Dellin Betances
- Brad Brach
- Jacob deGrom
- Edwin Diaz
- Jeurys Familia
- Robert Gsellman
- Walker Lockett
- Seth Lugo
- Corey Oswalt
- Rick Porcello
- Jacob Rhame
- Paul Sewald
- Drew Smith
- Marcus Stroman
- Michael Wacha
Left-handed pitchers
Catchers
Infielders
- Matt Adams
- Pete Alonso
- Robinson Cano
- J.D. Davis
- Andres Gimenez
- Luis Guillorme
- Jed Lowrie
- Jeff McNeil
- Max Moroff
- Eduardo Nunez
- Amed Rosario
- Dominic Smith
Outfielders
Mets Sign First-Rounder Pete Crow-Armstrong
The Mets have signed first-round pick Pete Crow-Armstrong, Jonathan Mayo of MLB.com tweets. He’ll earn the full slot value of his selection, No. 19, with a $3,359,000 bonus.
The 18-year-old Crow-Armstrong, an outfielder from Los Angeles, committed to Ohio State prior to the draft. He entered the proceedings as a top 25 prospect according to Keith Law of The Athletic (No. 10), Baseball America (No. 17), ESPN’s Kiley McDaniel (No. 18), MLB.com (No. 20) and FanGraphs (No. 25). Law, the biggest fan of Crow-Armstrong among the bunch, praised his all-around game, especially his defense in center field, writing, “The defensive and positional value give him a higher floor than most teenagers in the class have, and the possibility for a 60 bat with 50 power gives him a star ceiling.”
The Crow-Armstrong deal leaves the Mets with just one unsigned draft pick, second-rounder J.T. Ginn, whose selection (No. 52) comes with a recommended value of $1,403,000. The Mets still have about $2.6MM left in their draft pool, per Anthony DiComo of MLB.com, so it seems they’re in good position to sign Ginn.
Amateur Draft Signings: 6/24/20
Several more draft picks from the second through fifth rounds have agreed to deals with their first-ever major league organizations. Here are the latest updates…
- The Cardinals announced the signing of second-round pick Masyn Winn on Wednesday, Derrick Goold of the St. Louis Post-Dispatch relays. Winn will earn $2.1MM, which is above the $1,338,500 recommended slot value of his pick (No. 54), per Jim Callis of MLB.com. Winn, a Texas high school shortstop/right-hander who committed to Arkansas before the draft, is a legitimate prospect on both ends, according to Callis.
- The Red Sox have reached a deal on a $1.75MM bonus with third-round choice Blaze Jordan, according to Chris Cotillo of MassLive.com. It’s a well-above-slot pact for Jordan, a high school third baseman from Mississippi whose pick (89) came with a recommended value of $667,900.
- The Rangers have inked a pair of picks, third-rounder Tekoah Roby and fifth-rounder Thomas Saggese, TR Sullivan of MLB.com tweets. Roby, a high school righty from Florida who went 86th overall, signed for $775K (recommended slot value: $699,700). Despite coming off the board much later at 145, Saggese received $800K – easily above the $375,200 slot. Saggese is a high school shortstop from California.
- The Rockies announced the signings of third-round left-hander Sam Weatherly (Clemson) and fifth-round shortstop Jack Blomgren (Michigan). Financial details aren’t yet known in either case. Weatherly’s pick (81) came with a slot value of $755,300, while Blomgren’s (140) was assessed at $394,300.
- Mets fifth-rounder Eric Orze landed a deal for just $20K, Callis reports. His pick, No. 150, was worth a much more lucrative $357,100. As Callis notes, it’s easy to root for Orze, who has overcome cancer twice. On the mound, the righty from the University of New Orleans offers “an above-average, 92-95 mph fastball, an average slider and an above-average splitter,” Baseball America writes.
Third Bidder For Mets Emerges
As Alex Rodriguez and Jennifer Lopez bolster their group to bid on the Mets and a group led by the owners of the Philadelphia 76ers and New Jersey Devils also eyes a bid, a third potential buyer for the Mets appears to have surfaced. Scott Soshnick of Variety reports that brothers David and Simon Reuben, whose combined estimated worth is a whopping $14 billion, are now “exploring” a bid. Real estate opportunities in the area surrounding Citi Field are likely a driving factor in the interest, per the report.
The Reuben brothers, both in their mid- to late-70s, have built their empire through a series of real estate endeavors, investments in tech companies and in retail over in the United Kingdom. David Hellier and Natalie Wong of Bloomberg reported less than two months ago that the Reubens purchased a retail condo near Manhattan’s Rockefeller Center as they looked to expand their enterprise to New York, and a bid for the Mets would seemingly align with that interest. They’ve also expanded their residential real estate efforts into Madrid (via Bloomberg) and expressed interest in purchasing a stake in an English Premier League club.
With the Wilpon family reportedly looking to complete a sale of the team — but, according to Newsday, not the SNY Network — by year’s end, we’ve seen increased interest surfacing over the past month. Of course, the Mets believed they were already on the cusp of a gradual, five-year sale to billionaire Steve Cohen last December. At the time of the agreement, Cohen would’ve taken over an 80 percent stake of the club by 2025. However, that deal crumbled in February and left the Wilpons seeking a new buyer.
The economic downturn brought about by the COVID-19 pandemic complicates matters and will significantly cut the valuation of the franchise, but the extent isn’t yet known — nor is the level of bid which any of three potential buyers is planning. The two most recent sales of MLB clubs, the Royals in 2019 ($1 billion) and the Marlins in 2017 ($1.2 billion) both illustrate the demand for franchises, though. And as we saw with the Marlins’ sale, it’s possible that several permutations of ownership groups headed by the same principal figures could come together and fizzle thereafter before a deal is ultimately agreed upon.
Latest On Mets’ Sale Efforts
Reporting earlier today made clear that Alex Rodriguez and Jenifer Lopez have had success lining up some wealthy investors to join them in pursuit of the Mets.
It seemed initially that there was another deep-pocketed participant in the A-Rod-J.Lo group. Per Charles Gasparino of FOX Business (Twitter link), Florida Panthers owner Vincent Viola had joined the fray along with previously rumored Mike Repole.
It turns out that is indeed the case, but that Viola’s public emergence doesn’t really add to the pot. As Tim Healey and Jim Baumbach of Newsday report, Viola is actually working with Repole. The pair are said to be willing to invest to the $250MM level.
It seems there could be other contributors as well — as one might expect, given the anticipated cost of a New York baseball franchise. While the sale price will obviously droop due to the coronavirus uncertainty, it’s still a marquee asset in the sports world.
The current Wilpon ownership group is interested in wrapping up a deal by the end of 2020, per the Newsday report. And it seems the current package of assets would not include the revenue-producing SNY network, which will obviously bear on the level of outside interest and price that can be achieved.
That timeline is of interest, as it makes clear that this is a near-term proposition. Those who followed the recent sale of the Marlins will recall that there was still plenty of uncertainty at this point on the calendar. A deal was consummated in August, in time for the new ownership group to prepare for a full first offseason.