Former Detroit Tigers pitcher Kenta Maeda agrees to minor league deal with New York Yankees
News of potential involvement between Maeda and the Yankees was confirmed by the New York Post's Jon Heyman.
Maeda initially signed with the Tigers ahead of the 2024 season for two years and $24 million, offering starting depth to a Tigers team still undergoing a rebuild. And though the 2024 Tigers surprised many by earning a trip to the playoffs, Maeda didn't factor much into that success, going 3-7 with a 6.09 ERA over 112 ⅓ innings.
The nine-year veteran made the team out of spring training but was relegated to a relief role, where he struggled to a 7.88 ERA in seven appearances out of the bullpen. Instead of keeping him around (he was the third-highest paid pitcher on the team entering 2025), the Tigers cut him on May 1, allowing him to sign a minor-league deal with the Chicago Cubs on May 16.
Maeda showed little improvement with Triple-A Iowa, going 3-4 with a 5.97 ERA in 12 starts with the Cubs affiliate. The Cubs never promoted him to the big league club, and instead of waiting for promotion, Maeda opted out of his contract in favor of a deal with the Yankees.
You can reach Christian Romo at cromo@freepress.com
This article originally appeared on Detroit Free Press: Former Tigers RHP Kenta Maeda agrees to minor league deal with Yankees
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In addition, we believe that the exclusion of gains and losses related to the remeasurement of liabilities under the Company's Executive Deferred Compensation Plan provides investors with a clearer picture of the Company's operating performance given that, in accordance with U.S. generally accepted accounting principles ("GAAP"), gains and losses related to the remeasurement of liabilities under the Company's Executive Deferred Compensation Plan are recognized in Operating (income) loss whereas gains and losses related to the remeasurement of the assets under the Company's Executive Deferred Compensation Plan, which are equal to and therefore fully offset the gains and losses related to the remeasurement of liabilities, are recognized in Miscellaneous income (expense), net, which is not reflected in Operating income (loss). We believe adjusted operating income (loss) is an appropriate measure for evaluating the operating performance of our Company. 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Forward-Looking Statements This press release may contain statements that constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Investors are cautioned that any such forward-looking statements are not guarantees of future performance or results and involve risks and uncertainties, and that actual results, developments and events may differ materially from those in the forward-looking statements as a result of various factors, including financial community and rating agency perceptions of the Company and its business, operations, financial condition and the industry in which it operates, and the factors described in the Company's filings with the Securities and Exchange Commission, including the sections titled "Risk Factors" and "Management's Discussion and Analysis of Financial Condition and Results of Operations" contained therein. 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CONSOLIDATED BALANCE SHEETS (In thousands, except per share data) (Unaudited) June 30, 2025 June 30, 2024 ASSETS Current Assets: Cash and cash equivalents $ 144,617 $ 89,136 Restricted cash 8,571 5,771 Accounts receivable, net 25,855 33,781 Net related party receivables 3,582 32,255 Prepaid expenses 43,417 30,956 Other current assets 25,053 25,043 Total current assets 251,095 216,942 Property and equipment, net 28,962 28,541 Right-of-use lease assets 760,456 694,566 Indefinite-lived intangible assets 103,644 103,644 Goodwill 226,523 226,523 Investments 54,720 62,543 Deferred tax assets, net 34,821 — Other assets 12,753 13,533 Total assets $ 1,472,974 $ 1,346,292 MADISON SQUARE GARDEN SPORTS CORP. CONSOLIDATED BALANCE SHEETS (continued) (In thousands, except per share data) (Unaudited) June 30, 2025 June 30, 2024 LIABILITIES AND EQUITY Current Liabilities: Accounts payable $ 9,336 $ 9,900 Net related party payables 4,807 6,718 Debt 24,000 30,000 Accrued liabilities: Employee-related costs 98,924 133,930 League-related accruals 196,567 120,876 Other accrued liabilities 13,093 21,613 Operating lease liabilities, current 52,618 50,267 Deferred revenue 164,178 148,678 Total current liabilities 563,523 521,982 Long-term debt 267,000 275,000 Operating lease liabilities, noncurrent 841,050 749,952 Defined benefit obligations 4,086 4,103 Other employee-related costs 78,092 43,493 Deferred tax liabilities, net — 16,925 Deferred revenue, noncurrent 662 1,147 Total liabilities 1,754,413 1,612,602 Commitments and contingencies Class A Common stock, par value $0.01, 120,000 shares authorized; 19,488 and 19,423 shares outstanding as of June 30, 2025 and 2024, respectively 204 204 Class B Common stock, par value $0.01, 30,000 shares authorized; 4,530 shares outstanding as of June 30, 2025 and 2024 45 45 Preferred stock, par value $0.01, 15,000 shares authorized; none outstanding as of June 30, 2025 and 2024 — — Additional paid-in capital 15,348 19,079 Treasury stock, at cost, 960 and 1,025 shares as of June 30, 2025 and 2024, respectively (158,543 ) (169,547 ) Accumulated deficit (137,596 ) (115,139 ) Accumulated other comprehensive loss (897 ) (952 ) Total equity (281,439 ) (266,310 ) Total liabilities and equity $ 1,472,974 $ 1,346,292 MADISON SQUARE GARDEN SPORTS CORP. SELECTED CASH FLOW INFORMATION (In thousands) (Unaudited) Twelve Months Ended June 30, 2025 2024 Net cash provided by operating activities $ 91,607 $ 92,131 Net cash used in investing activities (6,920 ) (8,898 ) Net cash used in financing activities (26,406 ) (28,785 ) Net increase in cash, cash equivalents and restricted cash 58,281 54,448 Cash, cash equivalents and restricted cash at beginning of period 94,907 40,459 Cash, cash equivalents and restricted cash at end of period $ 153,188 $ 94,907 View source version on Contacts Ari Danes, CFAInvestor Relations and Financial Communications(212) 465-6072 Grace KaminerInvestor Relations(212) 631-5076 Justin BlaberFinancial Communications(212) 465-6109 Sign in to access your portfolio
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