Andy Martino of the Daily News reports that the Mets are close to finalizing deals with several minority investors for the sum of $100 million dollars. This would (for now) save the skins of the current ownership (I’m tired of writing their names…you know who they are).
So, this led me to the question: Is this a good thing or a bad thing? If they didn’t find minority investors, wouldn’t there have been a better chance that MLB would force them to sell?
What do you think?
6 comments
kingman 26
1/11/2012-1:57pm at 1:57 pm (UTC -4)
Well, I guess my answer would be that first off, the Einhorn deal was portrayed as a done deal, which it wasn’t (which is good, to me; Einhorn’s career does not suggest he would be a good owner.)
We also have heard about the minority partners for a while, so until the Wilpons have the 100 mil, it’s not certain they’ll get it.
If they do? It’s a stopgap and nothing more. If they really owe over $300 million, that’s a lot more than 100 mil, and there is also the Madoff trial approaching.
So the 100 mil might–like the loans from MLB and B of A–help them keep afloat for a while, it’s not going to save them as owners, unless they get off with very little to no losses in the Madoff resolution, and also have a surprising revenue increase in 2012. Which is unlikely.
MetsFan4Decades
1/11/2012-3:51pm at 3:51 pm (UTC -4)
I’ll believe this all when the ink is dry…..
Since I don’t think the Wilpons are going anywhere unless they pry this team from their hands – especially with Selig staying on (ugh), this doesn’t bother me. If they’re not going to sell, the quicker they get back to some sort of solvency, maybe the quicker we see a competing team.
I know this hinges on the right FO being in place – b/c let’s face it, Fred/Jeff have no clue how to run a ball club – but even with all that’s gone on, I still believe Fred really does live and die with wins/losses as he’s stated and does want to keep this team.
Jeff, on the other hand, could be more of a disaster.
NJstuckinTX
1/11/2012-10:34pm at 10:34 pm (UTC -4)
Yeah, I agree. I’m sure the Wilpons would spend the money if they could.
Fred should buy Jeffy a nice little island, make him mayor a leave him there. Then he could make some scratch taking bets on how long before the locals revolt and storm his mansion.
saltygary
1/11/2012-7:41pm at 7:41 pm (UTC -4)
The devil you know may be better than the devil you don’t. I haven’t been a fan of the Wilpons but they have put every effort into fielding a winner. Decisions just didn’t work out, not that Im surprised.
Stickguy
1/11/2012-8:33pm at 8:33 pm (UTC -4)
MLB isn’t taking them over or forcing a sale until they actually default on a payment and they have no choice. Even if they lower payroll (and no, there is not law that a NY team spend a certain amount on payroll!)
darknova306
1/12/2012-6:59am at 6:59 am (UTC -4)
I agree completely. Every time I hear a “you can’t [insert statement about payroll/rebuilding/etc] in New York” statement from someone, I get pissed. It’s complete garbage.