The team at the other end of the number 7 line made a big splash in free agency. Lame-duck New York Mets owners, the Wilpons, must step aside so the team can move forward and compete in 2020.
After noting that the Bronx team signed American League Cy Young runner-up Gerrit Cole, it is time for Fred and Jeff Wilpon to quickly step aside for the good of the New York Mets and Amazin Nation. MEMO to new owner Steve Cohen: Open your hedge fund business checkbook and give generously to your team. An infusion of money is greatly needed to bring the Mets back to prominence.
I got a notification alert on my phone from the New York Post app to inform me that Cole has agreed to a nine-year $324 million with a five-year opt-out option contract, to pitch for that other New York City team. In my mind, I can’t comprehend such a contract when the New York Mets have a two-time Cy Young Award winner of their own, Jacob deGrom. My immediate question is what is deGrom really worth if Cole got that much money?
I have mixed feelings about the situation. My economic thinking is a baseball player, like any other employee, is offered a salary or contract, based on what value he or she can add to the organization. No private company will overpay for an employee who results in a loss to their bottom line. That would be absurd. The company needs to know it will turn a profit.
So does a baseball team. NYY feels they can afford to offer a record-breaking contract, in their thinking, as their best shot to win a championship. They will make more money through other revenue means such as merchandise. The Mets must follow suit.