Eyre's funds frozen in Stanford probe

Updated: February 25, 2009, 3:44 PM ET
By Jayson Stark | ESPN.com

CLEARWATER, Fla. -- Philadelphia Phillies relief pitcher Scott Eyre added his name Wednesday to the list of major league players whose cash flow has been disrupted by the U.S. Securities and Exchange Commission's investigation of the Stanford Group.

But unlike most players whose funds have been frozen, Eyre said he has a temporary way out: His team has agreed to give him an advance on his salary.

Eyre said that when he realized that he didn't have access to his savings, he asked the Phillies if the club would consider loaning him money to tide him over, and the team agreed.

"I think they know I'll pay them back," Eyre joked. "I mean, they know where I work."

Eyre, who invested in Stanford through a broker who is a former teammate, said all his assets had been frozen by the SEC except for one bank account with $3,000 in it. He also is unable to use credit cards linked to the Stanford Group.

"I do have other cards I can use," Eyre said. "I just can't pay them off at the end of the month."

Eyre also said that "a couple" of his teammates had offered to lend him money if he runs into a deeper bind. But so far, he hasn't taken them up on those offers.

The 36-year-old left-hander said the reason he chose to make his troubles public is that he's concerned about all the Stanford investors who don't have someone to give them financial help while their savings are unavailable.

"I decided to say something so maybe someone in government would say, 'Wait a minute. Maybe we do need to speed up [this process],'" Eyre said.

"There are people out there who don't have access to money, that aren't going to be able to pay their bills. And [companies] don't care whether you can pay your bills or not. They want their money. If they're a bank, they're just going to foreclose on the house. ... They don't care if Stanford holds your money. So I figured if I say something, it could help out somebody."

Jayson Stark is a senior MLB writer for ESPN.com.

Jayson Stark | email

Senior Writer, ESPN.com

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