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Tuesday, December 21, 2021

Arrest warrant issued for former Oakland A’s star Miguel Tejada

The past few years have not been kind to Miguel Tejada. The former Oakland A’s star saw his major league career end with a drug suspension and his son lose out on a professional contract due to a positive PED test. He also received little support for the Hall of Fame despite an intriguing resume with just five votes for induction. Now Tejada can add legal woes to his list. According to Hector Gomez, an arrest warrant has been issued in the Dominican Republic for Tejada for writing bad checks.

Jack Sommers Posted: December 21, 2021 at 01:35 PM | 22 comment(s) Login to Bookmark
  Tags: miguel tejada

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   1. Rough Carrigan Posted: December 21, 2021 at 02:23 PM (#6058234)
At the end of his career, his strike zone judgement wrote checks his swing could no longer cash, so . . continuity.
   2. Rally Posted: December 21, 2021 at 03:08 PM (#6058247)
He made 96 million as a big leaguer. If he’s blown all that money, it would not be unprecedented, but certainly an epic fail of financial stupidity. I don’t know if I could do any better with 96 million but it would be nice if, in the name of science, someone gave me that much to try it out.
   3. John DiFool2 Posted: December 21, 2021 at 05:02 PM (#6058260)
Sad. He belongs in the Vizquel/Rollins conversation as the best SS of the last 30 years sans Derek Jeter (NOT necessarily as being worthy, note), but doubt he'll even be on any VC ballots going forward.
   4. Booey Posted: December 21, 2021 at 05:37 PM (#6058269)
#3 - ARod and Larkin were clearly better too.

And despite the injuries, Nomar and Tulo belong in the Vizquel/Rollins/Tejada group as well. They couldn't stay healthy, but they were clearly better when they were, so the career value ended up being about the same.
   5. Booey Posted: December 21, 2021 at 05:49 PM (#6058272)
Tejada is one of those guys that I wouldn't personally vote for, but it also wouldn't bother me if he eventually got in via the VC. His WAR total is a bit low, but his seasonal and career numbers wouldn't look out of place in Cooperstown (thanks, sillyball!) and he felt like a pretty big star for a half dozen years or so (his MVP is on my short list of the worst selections in my lifetime, though).
   6. the Hugh Jorgan returns Posted: December 21, 2021 at 06:06 PM (#6058276)
He made 96 million as a big leaguer. If he’s blown all that money, it would not be unprecedented, but certainly an epic fail of financial stupidity.


Most of these guys have A LOT of hangers on, are not well educated and get talked into/duped into some of the craziest schemes ever. By the time you pay your taxes, agent fees, etc. you're down over 50%. It's not like they are investing money from day one. They are spending all the money at an insane rate to start, pretty much the first $10-20 mil goes on houses, cars, travel, maybe blow, hookers. etc. Then the extended family comes out the woodwork like a scene from Field of Dreams, everyone's mum needs a new house or kid needs surgery and on it goes. That's another $10 mil gone right there, then you get caught up in a shady deal or 2, then another $15mil is gone.

And there you go, $96 mil earned, $45-50 in taxes and agent/legal stuff and the balance easily blown.
   7. What did Billy Ripken have against ElRoy Face? Posted: December 21, 2021 at 06:16 PM (#6058278)
Plus all the steroids for him and, apparently, his son. It adds up.
   8. John DiFool2 Posted: December 21, 2021 at 08:18 PM (#6058299)
#4, brainfart, tho ARoD wasn't a SS past age 27. Larkin is the oldest in said discussion. And believe me didn't forget about Nomar.
   9. John Northey Posted: December 22, 2021 at 07:43 PM (#6058423)
Always figured these guys should try to set up 2-3 million in a 'safety' investment at 5% (a basic index fund should do the trick) which should be plenty to live off of if everything else blows up. Sadly, they don't.

Tejada had a very good career but after age 32 he hit just for a 96 OPS+ over 3100 PA's 7.3 bWAR. 4 full time seasons, 2 All-Star appearances somehow. You need a far stronger finishing kick to make the HOF unless you win multiple MVP's and even then that quiet ending might not be enough.
   10. the Hugh Jorgan returns Posted: December 22, 2021 at 09:48 PM (#6058437)
Always figured these guys should try to set up 2-3 million in a 'safety' investment at 5% (a basic index fund should do the trick) which should be plenty to live off of if everything else blows up. Sadly, they don't.


The league should have a number of reputable investment firms(say 10) that they have vetted that they strongly recommend to the players to invest 10-20% of their income with.

Heck I could probably get the name of 10 good firms from the posters on this board. I reckon Snapper alone would know 3 or 4 solid investment groups who would look after hard earned income over the medium to long term quite nicely.

To invest wisely, you need either discipline or a boatload of extra funds. Well a lot of these guys are in the boatload category. Even the guy who "only" makes $1-1.5 mil per for a couple of years, that's still a ####-ton of money
   11. Never Give an Inge (Dave) Posted: December 23, 2021 at 07:40 AM (#6058457)
The S&P 500 is up 3x over the past decade, and the Nasdaq is up like 6x. If you had a bunch of money coming out of the financial crisis all you basically needed to do was put it in index funds and you would have done very well.

Some reports say that Tejada filed for bankruptcy in 2015, so obviously something went wrong there if that’s true.
   12. Never Give an Inge (Dave) Posted: December 23, 2021 at 07:46 AM (#6058458)
I don’t remember whether it was suspected at the time, but it should be noted that Tejada is one of the guys who lied about his age and was really two years older than originally thought. I doubt he gets as big a contract from the O’s if he’s listed as 29 instead of 27.
   13. snapper (history's 42nd greatest monster) Posted: December 23, 2021 at 09:33 AM (#6058460)
Most of these guys have A LOT of hangers on, are not well educated and get talked into/duped into some of the craziest schemes ever.

In other words, they're dumb and impulsive. Don't blame education. Lots of uneducated people know how to hang on to every penny. If they're also poor, they know they have to.
   14. snapper (history's 42nd greatest monster) Posted: December 23, 2021 at 09:37 AM (#6058461)
The league should have a number of reputable investment firms(say 10) that they have vetted that they strongly recommend to the players to invest 10-20% of their income with.

Heck I could probably get the name of 10 good firms from the posters on this board. I reckon Snapper alone would know 3 or 4 solid investment groups who would look after hard earned income over the medium to long term quite nicely.

To invest wisely, you need either discipline or a boatload of extra funds. Well a lot of these guys are in the boatload category. Even the guy who "only" makes $1-1.5 mil per for a couple of years, that's still a ####-ton of money


It's easily solvable from an investment perspective. What's not easily solvable is that many athletes are 1) not intelligent, 2) focused on immediate self-gratification, 4) have huge egos and need to be seen as the "big man", and 3) are highly impulsive.

No investment manager can control that type of client unless the money is put in some kind of blind, irrevocable trust. The league has no authority to force players to do that.

My attitude is that a fool and his money were lucky to get together in the first place. I really don't feel particularly bad for these guys.
   15. KronicFatigue Posted: December 23, 2021 at 09:50 AM (#6058463)
Does the league even benefit from having players financially secure? The cynic in me worries that they want players spending freely and thus a little more desperate during their next contract negotiations.
   16. Never Give an Inge (Dave) Posted: December 23, 2021 at 12:19 PM (#6058467)
There’s a line in the book “Billion Dollar Whale” where Jordan Belfort, the guy who Leonardo DiCaprio plays in The Wolf of Wall Street, comments that it was obvious to him that the 1MDB guys were criminals, because they weren’t spending their money like people who had actually worked for it. (The 1MDB fraudsters bankrolled that movie so he saw their behavior firsthand a few times.)

I know most baseball players have worked very hard to get to where they are, but signing a $100 million contract when you’re 26 is different from working for 20-30 years to amass that kind of wealth.
   17. SoSH U at work Posted: December 23, 2021 at 03:08 PM (#6058495)
14, And they simplemindedly tend to order things 1,2,3,4.
   18. snapper (history's 42nd greatest monster) Posted: December 23, 2021 at 03:19 PM (#6058496)
14, And they simplemindedly tend to order things 1,2,3,4.

So, someone manages to blow $100m in 15 years, and you think they're not afflicted by at least one of those four things?
   19. SoSH U at work Posted: December 23, 2021 at 03:21 PM (#6058497)
I was just having some fun with 1,2,4,3.
   20. dejarouehg Posted: December 23, 2021 at 03:36 PM (#6058501)
The league should have a number of reputable investment firms(say 10) that they have vetted that they strongly recommend to the players to invest 10-20% of their income with.


No, that's the job of the MLBPA. (Which, by the way, are services I'm sure they provide in some way, shape or form.) At least he will enjoy a decent pension.
   21. snapper (history's 42nd greatest monster) Posted: December 23, 2021 at 03:49 PM (#6058505)
I was just having some fun with 1,2,4,3.

Ah, OK. No worries.
   22. snapper (history's 42nd greatest monster) Posted: December 23, 2021 at 03:53 PM (#6058506)
No, that's the job of the MLBPA. (Which, by the way, are services I'm sure they provide in some way, shape or form.) At least he will enjoy a decent pension.

Yes. Tejada has medical benefits for life, and will get ~$200,000 a year starting a age 62 from his pension. If he starts drawing now (age 47), he gets ~$70,000.

The MLPA did it's job. He'll never be broke. No one has any reason to care if he's rich or not, besides him.

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