Friday, January 28, 2011

Thoughts on Today's Mets News

The news of the day is this http://www.amazinavenue.com/2011/1/28/1961722/wilpons-looking-to-sell-20-25-of-mets Well we all suspected That The Wilpons were lying when they said The whole Madoff ponzi scheme would have no effect in spending or that they were in no trouble monetarily. Bob Klapisch mentioned that the teams revenues have been down 30-35% in the first two years of Citi Field.    That is the reason why Selig stepped in and pushed for Alderson as the next Met GM.                                                                                                                                                         
Any franchise seeing their revenue drop after getting a new ballpark is really unheard of. It just says how bad this franchise has been run. The fact that Omar was brought back after '08 was ridiculous enough but bringing them back was flat out insanity. The tickets prices and skepticism going into '09 led to empty seats and the teams play since '09 has cost the teams plenty of revenue.                                                                                                                                                      
The Franchise value has dipped the last few years according to Forbes and The Wilpons real estate business isn't doing great. The Madoff ponzi scheme and now the lawsuit from the families that were hoodwinked by Maddoff,. This all has led to The Wilpons looking for someone to buy 20-25% stake into the team. There have been rumors that The Wilpons have been looking for investors for a year.                                                                                                                                                             
There are many questions and the black cloud that we thought went away with the hiring of Alderson is now back. The Mets have sixty mil coming off the books after the year and Alderson promised to spend a good deal of that money.Well now there's reasons to be skeptical that much money will be available to Sandy. The question is will they even be able to find an investor? The Wilpons aren't willing to sell more than minority share sadly. Some wonder if Castillo and Perez will still be bought out or forced upon Sandy and Terry. Another question is if they do get an investor or investors is whether they reinvest in the team?
                                                                                                                                
The dream is The Wilpons are forced to sell the team, and we get someone that will run the Franchise better than The Wilpons have for thirty years, but it's only a dream. The team is still worth 800+ mill  according to Forbes magazine, and should be in better shape but due to bad hires, cheapness in the draft and bad investments it's pretty rough right now. The Wilpons want to own the franchise for generations, so with all the troubles they are likely going nowhere. We can hope Sandy is left alone allowed to spend in 2012 and fix this mess.  Sandy's job likely got all the more harder.                                                                                                                                                    
There are now rumors from former Mets beat writer Bart Hubbach  that the Gov't is looking for money from The Wilpons in addition to the people that are suing The Wilpons. This could get even worse. for The Wilpons if true.                                                                                                                                                         
 It is worse if you wanna believe this report http://espn.go.com/blog/new-york/mets/post/_/id/13726/report-wilpons-may-owe-billion They may be forced to sell the team no matter how much they don't want to.

3 comments:

Anonymous said...

unfrickenbelievable. I almost feel bad for the wilpons

GM-Carson said...

I don't feel bad for the Mets. They are the enemy. Kick 'em while they're down is my point of view.

jon said...

jerry seinfeld next mets owner lol