Announcement

Collapse
No announcement yet.

The Mets Ownership / Management Thread

Collapse
This is a sticky topic.
X
X
 
  • Filter
  • Time
  • Show
Clear All
new posts

  • Tim Ryder- MLB has pre-approved 7 groups as qualified bidders for the purchase of the team. Cohen will bid. Goal is sale to be accomplished by years end.

    Comment


    • Daily News- Wilpons would like sale to go thru between end of WS and end of December.

      Comment


      • Originally posted by dstoffa View Post

        The owners are asset rich, and cash poor. If they've leveraged their assets as loan collateral, this pandemic has, for all intents and purposes, turned off the cash-flow. If they need to make payments, they'll need to sell some assets. Like in the game of Monopoly, sure, you can have no cash, but if you have more than a few property groups and houses on them... Which ones do you sell? And will you be required to sell those houses and hotels to the bank at half price?
        Free cash flow for SNY has been a nine figure sum for a while. Also, aren't these guys supposed to be real estate moguls? Real properties generate cash flow, too. I think the many years of Wilpon poverty stories have mostly been generated to excuse low payrolls, which allowed the family to fatten itself off the team.

        I suspect there's a reason for the sale. I also suspect we might not know it for a while.

        Originally posted by LI METS FAN View Post
        Daily News- Wilpons would like sale to go thru between end of WS and end of December.
        Looks like Fred and Jeff's chiseling shenanigans four months ago will cost them a fortune.

        That's too bad.
        Last edited by Mongoose; 07-01-2020, 04:17 PM.


        "The Fightin' Met With Two Heads" - Mike Tyson/Ray Knight!

        Comment


        • Originally posted by LI METS FAN View Post
          Daily News- Wilpons would like sale to go thru between end of WS and end of December.
          That is going to depend on the Wilpons.

          They cant be the business as usual Wilpons and expect anyone to kowtow to their disgusting form of humanity. For example - what they tried with Cohen or anything in that vicinity of behavior.

          My guess is the team will sell for less than the 2.6B as constructed with Cohen, and if the buyer has any sense SNY is part of the package. Obviously this affects the price in a big way, but that is the jewel of the Met assets.

          The beauty of this is that the Wilpons immediately become vapor. Then I hope to never have to type the new owners name accept in a positive way.

          Edit -- my other hope is that the new owners buy the Wilpons out in their entirety - no 20% ownership. Remove all the fingerprints. Again this will affect price.
          Last edited by Paulypal; 07-02-2020, 05:31 AM.

          Comment


          • Originally posted by Paulypal View Post

            That is going to depend on the Wilpons.

            They cant be the business as usual Wilpons and expect anyone to kowtow to their disgusting form of humanity. For example - what they tried with Cohen or anything in that vicinity of behavior.

            My guess is the team will sell for less than the 2.6B as constructed with Cohen, and if the buyer has any sense SNY is part of the package. Obviously this affects the price in a big way, but that is the jewel of the Met assets.

            The beauty of this is that the Wilpons immediately become vapor. Then I hope to never have to type the new owners name accept in a positive way.

            Edit -- my other hope is that the new owners buy the Wilpons out in their entirety - no 20% ownership. Remove all the fingerprints. Again this will affect price.
            I have no guesses on the sale price if it gets accomplished. If he gets 3bil or 1bil or anything in between the goal is better owners.

            Comment


            • I've said this before but if the Wilpons continue to own SNY, we can expect our nightmare to continue. Not to the extent it does now by affecting the product on the field, but we as fans will continue to feel their wrath on a daily basis as we tune in to watch. Same problem, different paradigm.
              Put it in the books.

              Comment


              • Originally posted by Mongoose View Post

                Free cash flow for SNY has been a nine figure sum for a while. Also, aren't these guys supposed to be real estate moguls? Real properties generate cash flow, too. I think the many years of Wilpon poverty stories have mostly been generated to excuse low payrolls, which allowed the family to fatten itself off the team.

                I suspect there's a reason for the sale. I also suspect we might not know it for a while.
                Cash flow is expected in most real estate business plans. House flippers lose money when there are delays (idle construction crews, mortgage payments, property taxes, etc. All these items eat into the bottom line). I assume their situation is no different.

                To that end, I imagine that SNY doesn't pay the Mets for the airing of games that are not played, so I don't think we can assume that cash is flowing from SNY to the Mets at rates commensurate with years past. SNY cannot sell advertising for games that are not played.
                20-Game Saturday Plan, Prom Box 423.

                Comment


                • Originally posted by milladrive View Post
                  I've said this before but if the Wilpons continue to own SNY, we can expect our nightmare to continue. Not to the extent it does now by affecting the product on the field, but we as fans will continue to feel their wrath on a daily basis as we tune in to watch. Same problem, different paradigm.
                  It's a matter of time before the TV rights revert back to the team, and SNY becomes a pumpkin. Just like when the MSG deal ran out with the Yankees. So an owner with deep pockets can ride out the storm until the TV rights come back to the negotiating table.
                  20-Game Saturday Plan, Prom Box 423.

                  Comment


                  • Originally posted by dstoffa View Post

                    Cash flow is expected in most real estate business plans. House flippers lose money when there are delays (idle construction crews, mortgage payments, property taxes, etc. All these items eat into the bottom line). I assume their situation is no different.

                    To that end, I imagine that SNY doesn't pay the Mets for the airing of games that are not played, so I don't think we can assume that cash is flowing from SNY to the Mets at rates commensurate with years past. SNY cannot sell advertising for games that are not played.
                    If SNY is on the air, it's still receiving affiliate license fees. That contract wouldn't change. I don't think they've gone ad-free either. The only result of SNY not paying the Mets for missed games, is Fred and Saul pocketing even more SNY money themselves.

                    I'm pretty sure Fred isn't paying construction crews for work not being done. Unless his tenants have all gone on rent strike, I don't think their real estate revenue's much diminished.

                    And the urge to sell preceded the corona virus shutdown. I'm curious as to why?


                    "The Fightin' Met With Two Heads" - Mike Tyson/Ray Knight!

                    Comment


                    • SCOOP: 1st round bid indications for Mets appear weak, likely below $2 billion-sources. Wilpons unlikely to sell at this stage unless something changes; bankers set July 9 for 1st round bids; hedge fund billionaire Steve Cohen unlikely to participate-sources more

                      https://twitter.com/CGasparino/statu...77939598979075


                      The Mets have the best, smartest fans in baseball.

                      Comment


                      • Originally posted by Blue387 View Post
                        SCOOP: 1st round bid indications for Mets appear weak, likely below $2 billion-sources. Wilpons unlikely to sell at this stage unless something changes; bankers set July 9 for 1st round bids; hedge fund billionaire Steve Cohen unlikely to participate-sources more

                        https://twitter.com/CGasparino/statu...77939598979075

                        The hope is to sell quick obviously, but again -- in the current climate it is very unlikely.

                        Comment


                        • The Wilpons are curious people. They whine constantly about how the Mets lose money year after year. How much did they say they lost last year? Tens of millions? Yet, they seem indignant nobody has offered them more than $2 billion to take over this distressed business. (Well, somebody did, but a $2.6 billion valuation wasn't enough for them to turn over control right away.)

                          Obviously the claim the Mets lose big money almost every year is phony. The Wilpons' discomfort will be fun to watch, since I suspect SAC's eventual reduced offer will still be the highest. I think their compulsion to grab every last cent will trump their pride/arrogance, and they'll sell to him (if they do sell at all).

                          In lieu of a season, consider this entertainment.


                          "The Fightin' Met With Two Heads" - Mike Tyson/Ray Knight!

                          Comment


                          • Originally posted by Blue387 View Post
                            SCOOP: 1st round bid indications for Mets appear weak, likely below $2 billion-sources. Wilpons unlikely to sell at this stage unless something changes; bankers set July 9 for 1st round bids; hedge fund billionaire Steve Cohen unlikely to participate-sources more

                            https://twitter.com/CGasparino/statu...77939598979075

                            Gasparino update - Cohen unlikely to participate in the first round. He retains interest.

                            Comment


                            • Originally posted by Mongoose View Post
                              In lieu of a season, consider this entertainment.
                              It's a poor substitute, but the 2020 season, as currently constructed, isn't much better.

                              They call me Mr. Baseball. Not because of my love for the game; because of all the stitches in my head.

                              Comment


                              • Originally posted by LI METS FAN View Post

                                Gasparino update - Cohen unlikely to participate in the first round. He retains interest.

                                Baseball sources tell FoxBusiness hedge fund billionaire Steve Cohen & the Wilpons have patches up their differences and have been discussing Cohen’s purchase of Mets yet another indication that (as I reported) Cohen is the leading contender for the team story developing

                                https://twitter.com/cgasparino/statu...657047553?s=21

                                The Mets have the best, smartest fans in baseball.

                                Comment

                                Ad Widget

                                Collapse
                                Working...
                                X