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Sell the Team AGAIN!!!!

Centerfield Feb 10 2020 08:51 AM

No restrictions on the team sale says Bloomberg. https://www.bloomberg.com/news/articles/2020-02-09/new-york-mets-are-for-sale-again-the-price-may-have-just-soared Which begs the question, if they were willing to cede control, why did the Cohen deal fall through?

Benjamin Grimm Feb 10 2020 08:52 AM Re: Sell the Team AGAIN!!!!

I'm wondering that too. Maybe the fact that the Cohen deal fell apart made them realize that they needed to cede control, but that realization could have simply allowed them to reopen the Cohen deal. So there must be more to it.

Benjamin Grimm Feb 10 2020 08:55 AM Re: Sell the Team AGAIN!!!!

I don't know enough about Mark Cuban to have an opinion regarding him, but I wouldn't be surprised if his name came up, at least from the fan base. What do we think? Is it likely? Is it desirable?

Johnny Lunchbucket Feb 10 2020 09:13 AM Re: Sell the Team AGAIN!!!!

Watch them sell for $2,600,000,001 then take 5 years to close the deal

kcmets Feb 10 2020 09:36 AM Re: Sell the Team AGAIN!!!!

Something is stinky about this whole thing. Why is Cohen deal dead if wants to buy the remaining 92% of the team and has the money? Offer $2,650,000 and un-dead things.

Centerfield Feb 10 2020 09:44 AM Re: Sell the Team AGAIN!!!!

It doesn't make any sense. The only guess I have is: 1. Wilpon and Cohen agree on their 5 year deal. 2. Wilpon or Cohen, or both, thinking they have the leverage, start changing the terms. 3. It ends poorly. Cohen leaks to the press, Wilpons run to Manfred. It ends with the Cohen being blacklisted and daring the Wilpons to find a higher bidder. 4. The Katz family finally wakes up and tells Jeff to stop fucking up their money. They tell Fred and Jeff to lose the five year control period, and go find a higher bidder, but if they can't, to go crawling back to Cohen. Cohen sits and waits and hopes that no deeper pocket shows up. 5. If someone bids a dollar over $2.6 billion, the Wilpons "win". If not, they have to go back to Cohen, tail between their legs. I think there's no chance the Wilpons would do this, so they will throw in SNY, or Syracuse, or whatever it takes to have that reported number be higher than the Cohen price tag.

Ceetar Feb 10 2020 09:51 AM Re: Sell the Team AGAIN!!!!

Maybe the rumors about Cohen not getting approved were true. Maybe the years of control were a workaround of sorts, once you own 80% of a team, you figure they can't say no?, but he did in fact get a 'no' or a "we'll see" to that? Or maybe there really was a 'right to purchase' option in the minority shares and it was all a ploy to open it up and get a higher value. A franchise value, as much of that is basically a made up finance term, of 3.5 billion seems absurd, but it almost happened. I'd be surprised if it didn't end up going for more than that now though, not that they've "set a value". Curious if they're still sell 72%.

kcmets Feb 10 2020 10:01 AM Re: Sell the Team AGAIN!!!!

=kcmets post_id=31386 time=1581352573 user_id=53]Offer $2,650,000 and un-dead things.

Left off a few zeroes there, $2,650,000,000...

86dreamer Feb 10 2020 11:27 AM Re: Sell the Team AGAIN!!!!

The Bloomberg article said the team lose $50 million a year excluding SNY, and SNY is not on the table. In other words, Wipons want to sell the team but keep their share of the profits. I dont see them finding anyone rich enough or stupid enough to play their games.

kcmets Feb 10 2020 11:31 AM Re: Sell the Team AGAIN!!!!

Just my opinion, but there's no way the Wilpons are losing $50 million a year on the Mets. Maybe on one set of books, but no way on the most accurate set.

86dreamer Feb 10 2020 11:37 AM Re: Sell the Team AGAIN!!!!

agree that the consolidated entity including SNY is likely profitable. But not hard to imagine the baseball club losing money if they are not receiving full market value for the broadcasting rights from SNY. Wilpons are trying to sell the expense vehicle and keep the revenue vehicle.

kcmets Feb 10 2020 11:48 AM Re: Sell the Team AGAIN!!!!

I also doubt SNY is a gold mine. They run infomercials in the morning.

Lefty Specialist Feb 10 2020 11:53 AM Re: Sell the Team AGAIN!!!!

=86dreamer post_id=31395 time=1581359856 user_id=97] agree that the consolidated entity including SNY is likely profitable. But not hard to imagine the baseball club losing money if they are not receiving full market value for the broadcasting rights from SNY. Wilpons are trying to sell the expense vehicle and keep the revenue vehicle.

Precisely. I'm not so sure someone will pony up the money they're looking for without SNY.



The Cohen deal was kind of like having your cake and eating it too, plus eating someone else's cake.

kcmets Feb 10 2020 11:58 AM Re: Sell the Team AGAIN!!!!

My guess is in the end the whole shabang will go bundled up with a bow. For the right, over-inflated price.

86dreamer Feb 10 2020 01:01 PM Re: Sell the Team AGAIN!!!!

https://www.espn.com/blog/new-york/mets/post/_/id/80341/mets-faring-ok-in-new-tv-landscape this article from 2014 says the Mets receive $52 million per year from SNY versus Phillies receive $100 million/year and Dodgers $340 million for their local rights. Cross-ownership muddles up all of this but one thing seems clear - Fred & Jeff are dreaming if they think they can sell the team for full price without opening up the local rights deal. They want to sell you the house, keep the keys and charge you rent.

LWFS Feb 10 2020 01:06 PM Re: Sell the Team AGAIN!!!!

Lefty Specialist wrote: =86dreamer post_id=31395 time=1581359856 user_id=97] agree that the consolidated entity including SNY is likely profitable. But not hard to imagine the baseball club losing money if they are not receiving full market value for the broadcasting rights from SNY. Wilpons are trying to sell the expense vehicle and keep the revenue vehicle. Precisely. I'm not so sure someone will pony up the money they're looking for without SNY. The Cohen deal was kind of like having your cake and eating it too, plus eating someone else's cake.

And then, at the last minute, asking to have the cake in perpetuity. And all associated utensils.



Cuban, for better or worse, would embrace the press and its attention with open arms.

Frayed Knot Feb 10 2020 01:08 PM Re: Sell the Team AGAIN!!!!

Maybe the rumors about Cohen not getting approved were true. Except it never even got to that point. The last article by those NY Post guys who were doing most of the reporting on this story merely speculated about whether this incidence of "bad faith" bargaining might mark Cohen as a guy not to be approved for any future deals he might want to make, Mets or elsewhere, especially considering how his past financial dealings may have already had him on the fence for approval on this deal. I suspect MLB would have approved him -- He specifically wasn't blamed for his company's irregularities but others under him were -- but we'll likely never know now. Not sure what the Cohen/Wilpon(x2) relationship was going into all this - minority partners can likely go years communicating with other minority or chief owners by text or by phone or through lawyers rather than face to face -- but I suspect the negotiations might have started to turn personal over the whole control thing. Eff & Jeff want the five year farewell tour. Cohen agrees to the clause but thinks of it as a more informal 'seat at the table' kind of thing rather than as an official stamp of final-say power. They get into over that during the dotting-i's/crossing-t's phase of the deal and suddenly a bunch of 'Fuck You!!' and 'Eat Shit!!' are flying back and forth across the table (at least that's how I like to think it went). The 'Pons figure that there are other fish in the sea and if they're going to be forced to sell it doesn't have to be to this guy just because he happened to be closest, especially not after he just insulted your intelligence over the Madoff deals which put them in the position to sell in the first place and also called Jeff nothing more than a member of the lucky sperm club.

Centerfield Feb 10 2020 02:11 PM Re: Sell the Team AGAIN!!!!

https://www.espn.com/blog/new-york/mets/post/_/id/80341/mets-faring-ok-in-new-tv-landscape this article from 2014 says the Mets receive $52 million per year from SNY versus Phillies receive $100 million/year and Dodgers $340 million for their local rights. Cross-ownership muddles up all of this but one thing seems clear - Fred & Jeff are dreaming if they think they can sell the team for full price without opening up the local rights deal. They want to sell you the house, keep the keys and charge you rent. I remember seeing an article a few years ago that had the Mets in the middle of the pack in terms of television revenue. The Yankees, and the two LA teams, were predictably, at the top. I searched but couldn't find it. It's pretty clear that even though they are selling the team itself, they want to keep reaping the benefits by signing themselves a sweetheart deal, and then artificially keeping the Mets' revenues depressed for the life of it. All while lining their pockets.

Centerfield Feb 10 2020 02:12 PM Re: Sell the Team AGAIN!!!!

Per this article, the SNY contract runs into the 2030's. https://www.newsday.com/sports/baseball/mets/mets-sale-steve-cohen-sny-1.39252944

G-Fafif Feb 10 2020 06:23 PM Re: Sell the Team AGAIN!!!!

The beloved COO has issued a statement that clarifies nothing. "As spring training begins, on behalf of ownership, we would like to share more information explaining why the proposed transaction has ended, however due to confidentiality and non-disclosure agreements we are unable to do so at this time," Wilpon said. "So right now, I believe we need to focus on the future and not in the past and that's what we intend to do. We would like to assure our fans that we will continue our commitment to winning in 2020 and beyond and we'll work hard to earn and maintain everyone's confidence and trust. We'll be moving forward to find a new transaction. We will not be giving details or updates on the timeline or process until we are prepared to make a public announcement. Thank you, that's all I can say for now."

kcmets Feb 10 2020 07:04 PM Re: Sell the Team AGAIN!!!!

=The beloved COO post_id=31432 time=1581384202 user_id=55]... we'll work hard to earn and maintain everyone's confidence and trust

Yeah, uh, good luck with that...

Edgy MD Feb 10 2020 07:44 PM Re: Sell the Team AGAIN!!!!

I haven't followed this closely, but if this transfer was supposed to be taking place in stages over time, am I correct in assuming that Cohen was intending to finance the team rather than paying out of pocket?

LWFS Feb 10 2020 08:35 PM Re: Sell the Team AGAIN!!!!

Edgy MD wrote: I haven't followed this closely, but if this transfer was supposed to be taking place in stages over time, am I correct in assuming that Cohen was intending to finance the team rather than paying out of pocket? See, it sounds silly, but you don't know the whole deal. He knows this guy who can promise 46 percent returns, monthly. And you can withdraw at any time

Ceetar Feb 10 2020 09:29 PM Re: Sell the Team AGAIN!!!!

Edgy MD wrote: I haven't followed this closely, but if this transfer was supposed to be taking place in stages over time, am I correct in assuming that Cohen was intending to finance the team rather than paying out of pocket? it was going to be 5 payments over 5 years the last 'leak' said. I'm sure there were discussions towards how best to make those payments in order to pay the least amount of taxes though.

Centerfield Feb 11 2020 10:18 AM Re: Sell the Team AGAIN!!!!

Some interesting stuff here if you can stomach listening to Fox Business. https://video.foxbusiness.com/v/6131369541001/?playlist_id=938507328001#sp=show-clips I'll summarize for those that don't want to listen. *Wilpons have set the price near $3 billion. *Einhorn is not in the game. He's taken hits since 2011 and this price is too much for him. *interest is "scant" as there aren't many that can hit this price tag *Mets owners are warring with each other and need to sell *thinks Cohen could eventually re-enter the picture. The match is too good for something not to happen.

Johnny Lunchbucket Feb 11 2020 10:58 AM Re: Sell the Team AGAIN!!!!

They're not making any more National League baseball teams in New York, so I'm sure lots of people will want one. If it means taking less than $3B so be it.

Ceetar Feb 11 2020 11:32 AM Re: Sell the Team AGAIN!!!!

I imagine interest is 'scant' now but if you give some guys times to put together a group to buy, it might pick up. Or maybe not. Either way you might worry that a buyer spending that much would end up like Einhorn (or Jeter's group) and be basically tapped out. Especially if the Wilpons sell in a way that still has them syphoning off the SNY money. It might be 10 years before the owners and re-capitalize on that.

86dreamer Feb 14 2020 12:08 PM Re: Sell the Team AGAIN!!!!

https://nypost.com/2020/02/14/alex-rodriguez-emerges-as-potential-mets-buyer/ God help us

Ceetar Feb 14 2020 12:10 PM Re: Sell the Team AGAIN!!!!

It'd be amusing to see the Mets go from a manager that should go into the Hall of Fame with the team, to an owner.

86dreamer Feb 14 2020 12:12 PM Re: Sell the Team AGAIN!!!!

=Ceetar post_id=31723 time=1581707457 user_id=102] It'd be amusing to see the Mets go from a manager that should go into the Hall of Fame with the team, to an owner.

Amusing is not the word I would choose.

Benjamin Grimm Feb 14 2020 12:24 PM Re: Sell the Team AGAIN!!!!

https://www.apartycenter.com/currentevents/willowbrook2011/1.jpg>

Centerfield Feb 14 2020 12:35 PM Re: Sell the Team AGAIN!!!!

I'm on board. Let's do it. J-Lo and Shakira can do all the halftime shows.

Johnny Lunchbucket Feb 14 2020 12:52 PM Re: Sell the Team AGAIN!!!!

I have to say, I find Arod's enthusiasm about baseball is refreshing. He's of course a fool who cheated the game he loved, but I don't doubt he really loved it. I don't think I want him to own the Mets, though. Ed Kranepool should get his guys together again.

MFS62 Feb 14 2020 07:27 PM Re: Sell the Team AGAIN!!!!

He is a huge Mets fan, and it gives him a chance to say "mine is bigger than yours" to Jeter. A Jeter/ Cohen consortium. Both guys love the Mets. Where do we sign? (CF, the idea of J-Lo and Shakira sightings at Citi Field would certainly boost attendance) Later

Frayed Knot Feb 14 2020 07:56 PM Re: Sell the Team AGAIN!!!!

The whole ARod=Met fan thing is probably at least 60% bullshit, and completely irrelevant even if not. He's throwing his name out there because the team is known to be available but he'd do the same if it were a different team on the block, certainly if it were a different big market team.

MFS62 Feb 14 2020 08:02 PM Re: Sell the Team AGAIN!!!!

Frayed Knot wrote: The whole ARod=Met fan thing is probably at least 60% bullshit, and completely irrelevant even if not. He's throwing his name out there because the team is known to be available but he'd do the same if it were a different team on the block, certainly if it were a different big market team. Even if he isn't a full blooded Mets fan, Cohen is. And a consortium including both of them is better than the sale to some billionaire group with no love for the team or consideration of the fans. And it would certainly be better than the Wilpons keeping the team. Later

kcmets Feb 14 2020 08:07 PM Re: Sell the Team AGAIN!!!!

I'd be ok with A-rod buying the Mets. Would actually be a quite hilarious turn of events from decades later. He could have merchandise tents. Last time I call him A-rod, I only do that once every decade.

Edgy MD Feb 15 2020 06:08 AM Re: Sell the Team AGAIN!!!!

I don't get the idea that Cohen should automatically be understood to represent "consideration for the fans." Or that he is, by definition, "better than the Wilpons." Management has demonstrated plenty of consideration for the fans. It's usually misguided and misunderstood, but it's there. I don't mean to be a wet blanket, but who is he that we should project these qualities onto him? Show me.

Frayed Knot Feb 15 2020 02:03 PM Re: Sell the Team AGAIN!!!!

Frayed Knot wrote: The whole ARod=Met fan thing is probably at least 60% bullshit, and completely irrelevant even if not. He's throwing his name out there because the team is known to be available but he'd do the same if it were a different team on the block, certainly if it were a different big market team. Even if he isn't a full blooded Mets fan, Cohen is. And a consortium including both of them is better than the sale to some billionaire group with no love for the team or consideration of the fans. And it would certainly be better than the Wilpons keeping the team. I'm not arguing for the Wilpons, although the idea that they hate the Mets while Cohen would succeed because he'd smother them with love is, at best, misguided. At worst you're setting yourself up for a YUGE disappointment. Some folks around here will remember when nothing warmed the hearts of Met fans as much as the idea of the Dolans buying the club. Man, that was going to solve EVERYTHING!! What I am suggesting, and not for the first time, is that both the press and Met fans need to get over this idea that ARod is some life-long NYM/Keef Hernandez-loving* geek or, that even if that was all true, that it would have anything to do with whether or not it qualifies him as a good potential front man for a new ownership group. * ARod was such a Keith fan that for his first uniform number in baseball he chose ... #3 for Dale Murphy. He claimed to be a Murphy fan because, in the Dominican Republic, the only games they got on TV were via TBS. That story seemed to go away when the Braves dropped out of the Boras sweepstakes even before the Mets did during his FA year. Of course when he was later traded to the Yanquis and couldn't wear #3 he could have chosen Keith's #17 (hey John Flaherty you scrub backup catcher, here's $20 bucks, give me your number) but he opted instead for #13 in honor of Dan Marino, his apparent favorite athlete from his south Florida days. So it seems that Alex's oft-reported NYM/KH fandom had its limits and tends to only get dusted off when he thinks there's some NYC-positive publicity in it for him.

Ceetar Feb 15 2020 02:56 PM Re: Sell the Team AGAIN!!!!

Alex is mostly a phony but it IS intelligent about baseball at a level higher than most people, most players even, and I generally welcome that intelligence in any capacity. It's part of the reason I liked Beltran.

MFS62 Feb 15 2020 03:34 PM Re: Sell the Team AGAIN!!!!

Edgy MD wrote: I don't get the idea that Cohen should automatically be understood to represent "consideration for the fans." Or that he is, by definition, "better than the Wilpons." Management has demonstrated plenty of consideration for the fans. It's usually misguided and misunderstood, but it's there. I don't mean to be a wet blanket, but who is he that we should project these qualities onto him? Show me. Well, I can't find a quote that is specific to your points, but this is a good start for me - he's "dead stuck on the Mets" https://nypost.com/2019/12/20/steven-cohen-had-a-one-track-mind-for-owning-the-mets-reggie-jackson/ Add that to the fact that he grew up on Long Island and rooted for the Mets as a kid (long before there were any financial considerations) means to me that he knows what it is, and means, to be a Mets fan. And I don't think he has lost that fan's perspective. That's my opinion and, I may be wrong. Now, show me where he wouldn't have those qualities. Later

batmagadanleadoff Feb 15 2020 04:53 PM Re: Sell the Team AGAIN!!!!

Edgy MD wrote: I don't get the idea that Cohen should automatically be understood to represent "consideration for the fans." Or that he is, by definition, "better than the Wilpons." Management has demonstrated plenty of consideration for the fans. It's usually misguided and misunderstood, but it's there. I don't mean to be a wet blanket, but who is he that we should project these qualities onto him? Show me. Well, I can't find a quote that is specific to your points, but this is a good start for me - he's "dead stuck on the Mets" https://nypost.com/2019/12/20/steven-cohen-had-a-one-track-mind-for-owning-the-mets-reggie-jackson/ Add that to the fact that he grew up on Long Island and rooted for the Mets as a kid (long before there were any financial considerations) means to me that he knows what it is, and means, to be a Mets fan. And I don't think he has lost that fan's perspective. That's my opinion and, I may be wrong. Now, show me where he wouldn't have those qualities. Later It's irrelevant, he's saying. He's saying, (I assume) even so, so what? So what? What? He's gonna be a great owner because he grew up on Long Island?

Edgy MD Feb 15 2020 07:43 PM Re: Sell the Team AGAIN!!!!

=MFS62 post_id=31809 time=1581806094 user_id=60]Now, show me where he wouldn't have those qualities.

I've apparently been given an order here.

MFS62 Feb 15 2020 08:20 PM Re: Sell the Team AGAIN!!!!

Edgy MD wrote: =MFS62 post_id=31809 time=1581806094 user_id=60]Now, show me where he wouldn't have those qualities. I've apparently been given an order here.

What was this?

I don't mean to be a wet blanket, but who is he that we should project these qualities onto him? Show me.

I answered your comment and showed you where I got my opinion.

Now it is your turn.

Later

Edgy MD Feb 15 2020 09:56 PM Re: Sell the Team AGAIN!!!!

No, it really isn't.

LWFS Feb 16 2020 12:30 AM Re: Sell the Team AGAIN!!!!

Edgy MD wrote: =MFS62 post_id=31809 time=1581806094 user_id=60]Now, show me where he wouldn't have those qualities. I've apparently been given an order here.

PRRRRROVE IT! YOU CAN'T, CAN YOU, YA PHONY

Edgy MD Feb 16 2020 07:54 AM Re: Sell the Team AGAIN!!!!

You got me.