• Cashman To Pay $1 Million A Year In Alimony & Child Support

    Posted by on February 8th, 2013 · Comments (4)

    Via the Post -

    Yankee General Manager Brian Cashman will fork over a whopping $1 million a year in alimony and child support to his now-ex-wife, Mary Bresnan, under the divorce settlement they signed off on this week, court records obtained by The Post reveal.

    That means Cashman — whose wife dumped him when his cheating ways were exposed by an alleged extortionist with whom he’d had a fling last year — will be wire-transferring a total of $83,333.33 every month to Bresnan until Halloween 2025, or until she remarries.

    The payout works out to a cool $999,999.96 per year — about $1 million less than the median salary of a Bronx Bomber player last year.

    Bresnan will owe income taxes on the payments and Cashman can claim them as a deduction, court records state.

    Cashman, 45, also has agreed to keep Bresnan as the beneficiary of a life-insurance policy on him in the amount of $2.25 million until her remarriage, death or Oct. 31, 2025, whichever comes first.

    And within the next three months, the Yankee honcho must apply for new term life-insurance policy with a $2.75 million benefit, and list the 42-year-old mother of his two kids as the sole beneficiary under the same conditions as the other policy. But he will be allowed to reduce the value of the new policy’s benefit by $200,000 each year.

    Bresnan, whose dad, William, was a high-powered cable TV executive, also gets ownership of the couple’s $3.7 million house in Darien, Conn.

    But Cashman, who earns $3 million a year as Yankee GM, isn’t walking away from the marriage empty-handed — he will keep about $1.4 million from the couple’s bank account — and a split of their joint Goldman Sachs investment account, records show.

    And Cashman “shall retain the club membership at Winged Foot” — the exclusive, invitation-only Westchester County golf club.

    The eye-popping numbers are contained in the couple’s final divorce papers, which were filed Tuesday in Stamford Superior Court in Connecticut.

    That’s the same day the couple’s split was finalized, as The Post exclusively reported.

    Bresnan’s lawyer, Gaetano “Guy” Ferro, declined to comment, as did Cashman’s spokesman, Chris Giglio.

    Bresnan had stayed with Cashman even after allegations in 2009 that he was cheating on her with Westchester soccer mom Kim Brennan.

    But she clearly had enough in February 2012, when an erratic Louise Meanwell was arrested and charged with allegedly extorting more than $6,000 from Cashman in exchange for keeping quiet about their purported affair.

    Bresnan promptly reverted to her maiden name.

    The couple is sharing custody of their two kids — Grace, 14, and 9-year-old Theodore — but the children will live with their mom.

    Cashman also is on the hook for the kids’ medical insurance under terms of the divorce.

    And he must pay “all of the educational expenses of each child . . . at a private primary and secondary school,” the judgment states.

    Cashman and Bresnan will split — 50/50 — the costs of their kids’ college educations and any post-graduate degrees they seek.

    I remember when Joe Piscopo got divorced for the first time in 1988. The rumor was, according to some, rather than give his “ex” any money, he stopped working and starting lifting weights instead. If she was going to get half, she was going to get half of nothing.

    If Cashman ever left the Yankees, and stopped making three million a year, I could see him saying that he couldn’t afford the million a year any more. It’s not that uncommon.

    Then again, knowing the Yankees, I could see them giving Cashman a raise after his contract is up in 2014. For some reason, they seem to love the guy.

    Comments on Cashman To Pay $1 Million A Year In Alimony & Child Support

    1. MJ Recanati
      February 8th, 2013 | 11:32 am

      I still don’t get why this story interests anyone. A rich guy cheated on his wife and has to pay her alimony. Big deal. Go drive around the golf or tennis clubs in Greenwich, CT or hang out in the mens toilets at Goldman Sachs or JPMorgan and you’ll find this same story repeated ad infinitum.

      BFD.

    2. February 8th, 2013 | 12:48 pm

      @ MJ Recanati:

      The interest? I think this is the issue…

      As fans, we feel a connection to the teams we root for – albeit the right or wrong thing to do. (Many suggest that we only make the connection with the teams, and become fans, because we want to associate ourselves with something bigger and better, and, in some cases, a winner.)

      And, teams understand this too – after all, without fans, they would have no business or income.

      So, we feel like we are “part of the team” in a sense. And, as “fanatics,” we have a strong interest in the players on the team, the people who manage and coach the team, the front office that controls the team, and the person who owns it.

      And, if someone therein is a big fizzy douche, it’s disturbing to us, as a fan, unless their production and/or contribution to the success of the team is so great that it offsets any of the crap and/or baggage that they bring to the table.

      Now, in the case of Cashman, it’s debatable as to whether or not he deserves a buddy pass on the negative attention he now brings to the organization, and, by association, to the fan base, as a result of him not being able to keep his willy in his pants.

      If you think he’s that great of a GM, where we should just be happy to have him and care nothing about his lack of character outside of the office, then, yes, it’s no “BFD,” yadda-yadda.

      But, if you think he’s overpaid and only marginally effective in comparison to his peers, then, news like this is important, and interesting, because it does lend to the question of “Is he worth keeping?”

      Just my two cents. And, I realize that it may just be IMHO.

    3. MJ Recanati
      February 8th, 2013 | 1:20 pm

      @ Steve L.:
      Shrug. Sports are easier to enjoy if you just focus on the sports part. The private lives of the athletes (or GM’s) should remain private; since we know that things are no longer private in a 24/7 news-cycle age, we can choose to ignore stuff that has nothing to do with us or the team we root for on the field.

      If you can’t compartmentalize things then I don’t see how you can even wake up and get out of bed in the morning. Just drown out the stuff that isn’t worth getting upset about and focus on the important stuff.

    4. Raf
      February 8th, 2013 | 2:56 pm

      @ Steve L.:
      Cashman isn’t the first person to screw around, nor will he be the last, remember, the game is known, and seemingly proud of, its “baseball annies.” As far as transgressions go, it’s pretty far down on the list especially compared with what others have done while affiliated with the organization.

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