Wilpons Selling Part of Mets

Herbert Anchovy · Feb 9, 2011

http://www.nytimes.com/2011/02/09/sports/baseball/09mets.html

http://sportsillustrated.cnn.com/2011/writers/lee_jenkins/02/08/wilpon.madoff/

More good stuff on this topic.

wicked · Feb 15, 2011

http://sports.espn.go.com/new-york/mlb/news/story?id=6124953

How hands-on, besides signing players to absurd contracts, was Trump with the Generals? That's a bit before my time. The bit of the 30 on 30 documentary I saw implied he was meddlesome.

Ben_Hecht · Feb 16, 2011

wicked said:

http://sports.espn.go.com/new-york/mlb/news/story?id=6124953

How hands-on, besides signing players to absurd contracts, was Trump with the Generals? That's a bit before my time. The bit of the 30 on 30 documentary I saw implied he was meddlesome.
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Noxious, as always, like the typical guy who woke up on third base and thought he hit a triple. The radio broadcasts were suck-up festivals to a Sterlingesque degree.

Herbert Anchovy · Feb 18, 2011

http://online.wSportsJournalists.com/article/SB10001424052748704657704576150601256686930.html

When Jeff Wilpon staunchly asserted that his family would not sell its controlling interest in the Mets earlier this week, dozens of fans took to the team's official Facebook site with one overwhelming reaction: despair.

"Oh, come on," wrote one fan, before adding an unprintable afterthought.
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YankeeFan · Jul 24, 2011

The situation with the Mets is no better than what's going on with the Dodgers.

The only difference is Bud's friendship with Wilpon.

The Mets' pending deal to sell a minority stake in the team to David Einhorn is dragging on well beyond its expected closing date because lender JPMorgan Chase is not letting the team structure the deal as a loan, making it harder to complete, The Post has learned.

"The Wilpons are having a tough time with the banks," a source close to the talks said.

Fred Wilpon's Sterling Equities, which owns the Mets, last week extended its exclusive negotiations with Einhorn after failing to reach a deal by the June 30 deadline.

Einhorn's $200 million purchase of a 33 percent stake in the money-losing Mets franchise is structured as a loan -- with the hedge-fund investor getting paid back in three years and having his stake reduced to about 16 percent.

JPMorgan Chase, which is owed about $500 million by the team, won't approve such a deal unless its loans get serviced -- repaid or restructured -- prior to Einhorn.

In addition to objecting to the Einhorn deal, in the last few months the bank wrote a "tough" letter to Sterling telling it that the Mets had breached their loan in 13 different ways, said the source, who has seen the letter.

http://m.nypost.com/p/news/business/mets_feel_heat_4061OZ06XbegZENoa6T31M
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Stitch · Jul 24, 2011

YankeeFan said:

The situation with the Mets is no better than what's going on with the Dodgers.

The only difference is Bud's friendship with Wilpon.

The Mets' pending deal to sell a minority stake in the team to David Einhorn is dragging on well beyond its expected closing date because lender JPMorgan Chase is not letting the team structure the deal as a loan, making it harder to complete, The Post has learned.

"The Wilpons are having a tough time with the banks," a source close to the talks said.

Fred Wilpon's Sterling Equities, which owns the Mets, last week extended its exclusive negotiations with Einhorn after failing to reach a deal by the June 30 deadline.

Einhorn's $200 million purchase of a 33 percent stake in the money-losing Mets franchise is structured as a loan -- with the hedge-fund investor getting paid back in three years and having his stake reduced to about 16 percent.

JPMorgan Chase, which is owed about $500 million by the team, won't approve such a deal unless its loans get serviced -- repaid or restructured -- prior to Einhorn.

In addition to objecting to the Einhorn deal, in the last few months the bank wrote a "tough" letter to Sterling telling it that the Mets had breached their loan in 13 different ways, said the source, who has seen the letter.

http://m.nypost.com/p/news/business/mets_feel_heat_4061OZ06XbegZENoa6T31M
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You don't see a difference? The Mets can make payroll. Wilpon and Katz aren't looting the team for every last dime. Plenty of other differences as well and all it takes is a little research to find that out.

YankeeFan · Jul 24, 2011

Stitch said:

You don't see a difference? The Mets can make payroll. Wilpon and Katz aren't looting the team for every last dime. Plenty of other differences as well and all it takes is a little research to find that out.
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Let me be more clear. The situation in New York is just as bad.

The difference in how Bud has responded to it is based on his friendship with the owners in New York.

Stitch · Jul 24, 2011

YankeeFan said:

Stitch said:

You don't see a difference? The Mets can make payroll. Wilpon and Katz aren't looting the team for every last dime. Plenty of other differences as well and all it takes is a little research to find that out.
Click to expand...

Let me be more clear. The situation in New York is just as bad.

The difference in how Bud has responded to it is based on his friendship with the owners in New York.
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How long have the Wilpons owned the team and not drained the club for every penny?

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Wilpons Selling Part of Mets

Herbert Anchovy Active Member

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Wilpons Selling Part of Mets

Herbert Anchovy Active Member

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