Tuesday, February 1, 2011
Mets Bargain Bin Shopping
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Mets principle owner Fred Wilpon and COO Jeff Wilpon, (or Coupon as they’ve been nicknamed by Mets fans) are seeking a silent partner to purchase between a 20 to 25 percent ownership stake in the team. The Wilpon's reportedly borrowed 700 million dollars against the team, a debt that diminished the New York Mets franchise value. In 2010, the Mets were valued at 850 million, but the 700 million the Wilpon's have accumulated in debt brings the valuation down to 150 million. Thus, a minority share could be had for about 35 million dollars, which is quite a bargain!
The Wilpon’s are adamant that the financial hit they incurred from the Bernie Maddoff scandal will not impact their payroll, but the offseason tells the real story.
As the hot stove talk heats up the Mets have had a modest offseason to say the least.
Catcher Ronnie Paulino, Pitcher Chris Young, Center Fielder Scott Hairston, Pitcher Taylor Tankersley, Pitcher Taylor Buckholtz, Pitcher Chris Capuano and Pitcher David Bush
Outfielder Angel Pagan, Pitcher Mike Pelfrey, Pitcher R.A. Dickey
Pitcher John Maine, Chris Carter, Pitcher Sean Green, Hisanori Takahashi
Overall, a ho-hum offseason for New York, a team mired in financial distress while undergoing a complete front office overhaul. 2011 looks to be a year of transition, and with so many variables in the clubhouse and front office it’s difficult to peg where this team will finish.
2011 season outlook: 83-79 Third in the NL East