New York Yankee notes: MLB takes back some cash

by Ed Valentine on Mar 3, 2010 7:46 AM EST in News Comment 6 comments

By now you may have heard the slightly bizarre story concerning how the 46 members of the Yankee organization who received full World Series shares have to give back $10,000. Seems Major League Baseball isn't so hot at math.

I guess the Yankees will just have to win the World Series again this time around to get their money back.

Let's look at a few more stories about our New York Yankees as we wait for today's first exhibition game.

The New York Post says the Yankees should make Derek Jeter an owner.

Jeter is set on being an owner when his playing days are done. Without specifically talking about the Yankees, Jeter told The Post yesterday that being an owner is "definitely a goal of mine."

One thing is certain, Derek Jeter attains his goals. So you can be sure he will be an MLB owner somewhere. Imagine if, down the road, Jeter becomes part of the ownership group of the Tampa Rays, with his team battling the Yankees every year in the AL East.

It would make for great theater, but it just wouldn't be right. Jeter needs to be a Yankee for Life.

There never will be another George Steinbrenner, but imagine the buzz of having Jeter as part of the ownership group. He could be Boss II. What better owner could the Yankees have than Jeter?

My take: I actually agree with this. If Jeter wants to be an owner, the Yankees are the team he should own.
Kei Igawa has not been good for much as a New York Yankee. But, at least he was good for some laughs during Tuesday's arcade outing.
Manager Joe Girardi has admitted that Mariano Rivera was not fully recovered from shoulder surgery when the 2009 season began.
Hideki Matsui is an ex-Yankee, and he won't second-guess his decision not to wait for an offer from New York.

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There’s nothing more silent than being a silent partner with the Steinbrenners.

Let’s take this to it’s logical conclusion. What if, the Yankees paid Jeter in ownership of the team, rather than dollars on his next contract. Does that count toward luxury tax and revenue sharing?

Would Jeter play for $5M now and $20M of ownership per year for the next 4 or 5 years?
Suddenly, the question of giving Jeter too much money for too long is out the window. In terms of budget, Jeter becomes one of the best bargains in baseball- a huge fan draw and merchandising asset who makes less than most FA relievers.

Would the union go for it? Would the commissioner’s office?

There are rules about baseball contracts that I’m not familiar with. Remember Schilling put an illegal clause into his contract before the 2004 season: http://query.nytimes.com/gst/fullpage.html?res=9B02E6D6123CF934A35752C1A9629C8B63&pagewanted=all

"Have faith in the Yankees, my son. Think of the great DiMaggio."

by jscape2000 on Mar 3, 2010 8:10 AM EST reply actions

I was thinking

more along the lines of guaranteeing him part ownership once his playing days are finished rather than making him part of the ownership group while he is still playing. Either way it provides lots of interesting scenarios. Personally, I would love to see it.

by Ed Valentine on Mar 3, 2010 8:26 AM EST reply actions

I agree it would have to be post playing.
I’m not sure if MLB would go for it either way.

"Have faith in the Yankees, my son. Think of the great DiMaggio."

by jscape2000 on Mar 3, 2010 9:49 AM EST up reply actions

No, I don’t think MLB would ever permit it while he’s still playing because it would allow the Yankees to skim payroll thus effecting the luxury tax.

If allowed, rich teams could theoretically offer players back-room type deals where they’re given a partial ownership share (e.g. 0.05%) for a reduced service contract and buy that back once the player retires. Messy.

Since the Steinbrenners have a 51% controlling interest on the team, they’re probably not going to give that up. Jeter’s going to have to convince someone else to sell their shares. I know he’s earned a ton with more to come in the future but I don’t think he can afford to do it alone himself with the Yankees valued so high.

by Scooby Snacks on Mar 3, 2010 9:17 PM EST up reply actions