February 10: Mets COO Jeff Wilpon issued an additional statement on Monday:
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. 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.
There’s little, if anything, within Wilpon’s statement that wasn’t already covered in the Sterling Partners statement, although it’s of some note to see a second quote (this one directly attributable to an individual member of the Wilpon family) clearly announcing ownership’s intent to find a new buyer.
February 6: Now that the proposed deal that would have seen Steve Cohen become the Mets’ new majority owner has fallen through, the club is still going to be put on the market. In a statement released to media, the Sterling Partners ownership group said “The transaction between Sterling and Steve Cohen was a highly complicated one. Despite the efforts of the parties over the past several months, it became apparent that the transaction as contemplated would have been too difficult to execute. Sterling intends now to pursue a new transaction and has engaged Allen & Company to manage that process.”
This may be relieving news for Mets fans, many of whom abhor the team’s current ownership. The duo of Fred Wilpon and Jeff Wilpon took the Mets’ reins in 2002, but success has been hard to come by since then for the club. New York has made just three playoff appearances under Wilpon leadership, and ownership has come under scrutiny time and again for the way it has handled the team.
Had Cohen ended up as the majority owner of the franchise, he’d have reportedly taken 80 percent of the Mets for approximately $2.6 billion. Cohen would have officially grabbed the reins going into 2025, so even if the Wilpons do find someone to take his place immediately, it may be awhile before that person assumes control of the organization.
I’ll believe it when I see it. If the deal with Cohen was a ‘highly complicated one’, I don’t see why it would be any different with any other potential buyer as the problem was with the Wilpons, not Cohen.
No one is ever going to buy the Mets under the tenants that the new owner of the Mets must pay billions but the Wilponzi’s will still be in charge of all Mets decisions, and will be in full control of the team for the next ten-to-twenty years? Plus the Wilponzi’s will use as much of the new titular owner’s money as needed to run the team for the next 10-to-20 years? SNY is also not included in the dea? Does this sound like a deal any sane or even insane billionaire’s group or billionaire person is ever going to make? MLB needs to step in, and force the scum infested Wilponzi’s to sell this team, and they need to enforce that the sale needs to take place ASAP or sooner!
Exactly, Rae. Imagine buying a high end home and giving the owners 5 years to do whatever they want with the property and stick you with any bills they ring up.
The Wilpons would’ve made all the player decisions and back loaded all of the contracts to stick Cohen with their tab, probably even deferred money. Anything so they wouldn’t pay it.
It became funnier and funnier EVERY time you said “Wilponzi”
Not. Actually became more pathetic.
Basically the Wilpons want to sell the mets under a reverse mortgage situation.
You make payments. I still control it. Eventually I die and you take over.
Classic Mets.
Mets fans… REJOICE!!! We have done it!!! We pissed off the Wilpons!!!!
This is code for “we’re going to shop around for a buyer who will let Joffrey Wilpon hang around indefinitely”
bingo.
slat slat
Rip the mets
Hoping for James Dolan.
Let the Finger Pointing soap opera begin!
As hilarious as that would be (even as a fan of the Mets and both teams), please no.
As bad as the Wilpons are, Dolan is even worse and they could do better than that steaming pile of crap.
The NYMs fans are spoiled rotten. The Dolan’s idiot son has the team playing .307 over the past 5 years, and all the way up to .315 this year. That makes the Mets’ idiot son look like a genius.
Hmm, the Mets would loveeeeeee for Dolan and Wilpons to switch places. No cap, and Dolan would spend to his heart’s desire. Mets would have best facilities and Dolan would never bow down to the Yankees for the backpages.
Let them trade teams so Knicks fans can have the pleasure of the Wilpons as their owners.
Let’s be real. No one is going to lay out 2 or 3 nil and still allow the Wilpon’s to run things. It will almost impossible to find a successful buyer with those conditions. Met fans will suffer under the Wilpons forevermore
I’d like to think after my GoFundMe for a Mets purchase of $2.6 billion (under “Random Guy on the Internet”) reaches 100% I can find a way to let Jeff wave a pennant from the “owners” box without doing any real damage. We’ll put in the very, very small print, “JW may not make any unapproved deals or sign any unapproved contracts, while this ownership group need not consult JW before making moves.”
A canny buyer has GOT to be able to figure out a way to get this done where Jeff can pretend to be the owner, have all his little perqs, hog credit if anything good happens, and as usual deflect if it doesn’t–but without having any actual authority. Seriously, if you had 2.6bn to play with and the only additional price to pay was letting Jeff and his beanie propeller hat take credit, with the essential proviso that he couldn’t screw anything up, wouldn’t that be worth it?
LOL! I can just see Jeff sitting in the owner’s box with a lollipop in one hand, a foam #1 in his other hand, and wearing a NYM beanie cap spinning around.
And the father if some 10 year kid wearing jeans and sneakers telling his kid, ‘no son, it is not nice to make fun of him’.
They did it in Baltimore where the Ravens gave David Modell an office and let him be on TV a couple of times a year after Biscotti bought the team from his business genius father.
Good luck trying to sell that 2.6$ Billion dollar season tickets + locker room access package.
Im sure billionaires are lining up to pay a large fortune to watch lil Lord Fontleroy run the team for them.
_______________
“However, one former Mets employee told The Post that it was almost inconceivable to think that a deal would have been struck without a role for Jeff.
“This guy has never done anything in his life other than play a week of minor league baseball and work for his dad,” said the former Mets staffer. “The Mets are his life. He can’t do anything else.”
By all accounts, Jeff’s current leadership of the organization is extremely hands-on. Every facet of the team, from baseball operations to marketing, is known to be under his purview.
This is how the Mets mega-sale became a hot mess
“He is the owner and the de facto general manager,” said one source close to the team. “He does not want to give that up, even if everyone around him does.”
_______________
Upvote for Little Lord Fontleroy.
2 upvotes for Fontleroy !
Three upvotes for Fauntleroy!!
Muts, Muts, Muts – jeez. Can’t make this stuff up. They give a little hope and then yank rug out
You said Yank on a Mets thread…
Not that kind lol.
Not that kind lol.
How nice of the Wilpons to engage the services of Allen & Co where Jeffy’s son works.
Sounds like a conflict of interest but what else Wilponzi is new? I just think that Rob Manfort’s office needs to step in for any sale of the NY Mets to reach fruition because Jeffy the Stupid will f up any deal that has a chance to succeed therefore Manfort’s intervention will be needed.
Allen & Company is a legit boutique investment bank with a proven track record representing buyers and sellers of professional sports franchises.
Nice piece of strategic hiring and lots of perseverance on the part of Allen & Co. if they hired their current analyst named Wilpon way back in the summer of 2016 to get this piece of business.
If I’m buying, I want them gone the first day I take control. As a matter of fact, the day I sign.
And yet the deal will be that Jeff Wilpon retains control. $2 billion and you don’t get control.
Then there’ll be no deal.
i can’t imagine any buyer will accept those terms for 80% and no SNY + you have give “Master” Bates (The Toy reference) a lifetime job. No chance.
Oh U S!
“You know, you remind me of a feller who once tried to sell me a dead mule. Said it’d be no problem to feed, didn’t kick.”
-Colonel Sherman Potter, MASH
OH NO! OH NO! Wilpons are the best most caring and smart owners, will be missed so much, SO SAD!
Millions of Mets fans are breathing a sigh of relief that the Wilpons will be gone soon.
I’ll need to count my pennies!
These guys are clowns. The really believe that they would get 2.6 billion. The rights for the tv contracts for the games and to still be able to run the team. That is insane to even believe that somebody would agree to that. Throw in the fact that there was another deal in place with another guy some time back that fell thru as well. And the commissioner looks like a fool for co-signing the Coupons I mean Wilpons shenanigans.
Yup – Einhorn, though that guy is a clown
The Wilpons want somebody to buy their house, except they still get to live there ..oh yeah you have to also pay them rent.
Anyone who buys the Mets is also buying Jeff Wilpon as the General Manager. Apparently you can have the pink slip but the Mets are still wittle Jeff Wilpons’ toy.
Dodger fans, are you willing to take a bunch of us Mets fan on? Many of us are looking for a new team.
We don’t need fairweather fans. Good luck.
alright. responses like that will have me looking elsewhere. thanks!
So, the Wilpons spiked a multi-billion deal because Cohen wouldn’t give a job for life to their useless silver spoon?
Talk about being born on third.
Prime example of why we need a large estate tax. Billionaires who didn’t work for their money become warped.
Yeah, cuz the government does such a wonderful job using money efficienctly…no thanks.
Imagine selling your car, but stipulating a condition of sale is you get to continue to drive it every day. The new owner only gets the title, while you get their money and all the benefits. As insane as it sounds, this is the inner workings of the Wilpons’ minds. Lol. Mets going to Mets.
The Wilpons are looking for a sucker as big as they were when they invested in Madoff’ ponzi scheme.
Mets are gonna end up on the clearance rack at Ross.
This organization is a joke. One of the only people that would be content in serving alongside these morons for the next five years, and this organization screwed it up! How can Jeff Wilpon be this stupid. It’s like buying a house and the previous owners are making you pay them rent and letting them still stay in the house! Steve Cohen was probably their last hope. I cannot see anybody else with money taking that deal with any sort of integrity behind it! If somebody buys the team, then they have to buy them out immediately! You cannot allow another instance like this to happen. Sure Steve Cohen’s legal issues make some of that net worth a little suspicious, but he repaid his debt to society. Also in terms for new ownership, it has to be a line of successful people, since there are not a lot of people out there with that kind of money that are young enough to run the team the duration the Wilpons have had. The Katz family should also look to sell their stake in the team also, making this organizations sale universal. The two point six billion sale mark was an extreme price mark as it was, so if another deal like this one falls through, then Rob Manfred has to intervene. I have seen some ridiculous stories about New York sports, but this one is just ludicrous!
Maybe Mike Piazza can form an owners group to buy the team, like Derek Jeter in Miami. Don’t have to tear it down to the same degree as Miami but can do some reconstruction of the franchise. Somehow though I don’t think he’s as interested in owning as Jeter.
The Wilpons cannot own or control anything once they sell, I say bring on Mark Cuban lol
How is 80 percent of Mets 2.6 billion lol
Could be higher. There are only 30 teams and NY is the sport’s biggest market.
Doesn’t something like 70%-80% of the profit made from the Mets come from SNY? I mean, no player would be getting a $300 million contract if the only income coming in was from gate revenue. Merchandizing? How much is that? I thought that most of a team’s revenue comes from it’s TV contracts. So wouldn’t any investor be expected to assume 80% of the maintenance cost of the franchise while only being allowed to share in a very small portion of the profits? What, were the Wilpon’s ancestors the guys who sold shiny beads to the native Americans in exchange for Buffalo and huge swathes of land?
Fred and Jeff Wilpon are the most toxic people in sports. Two time Ponzi scheme crooks and liars. Mets fans deserve better. Jeff is such a loser. Fred is not far behind.
Let’s sing a Mets song Willy Wonka style…
Who can take a franchise,
and sprinkle it with poooooo,
cover it with bull manure,
and a disaster or two?
The NY Mets!
The NY Mets can!
Who can take a fan base,
and make ’em all cryyyyy,
serve ’em up Kool-Aid,
and make them wanna die!
The NY Mets!
The NY Mets can!
The NY Mets can,
’cause they don’t give crud,
so they make their team a laughing stooooock!
The NY Mets make,
every mistake,
dissatisfying and ridiculous!
Talk about incompetence in excess!
It’s both funny and malicious!
Who can take tomorrow,
and kick it down stream,
drop the ball and cause sorrow,
making their fans whine and screeeeeem!
The NY Mets!
The NY Mets can!
The NY Mets can,
’cause they don’t give a crud,
so they make their team a laughing stooooock!
And their team’s a laughing stock,
’cause the Wilpons don’t give a daaaaarn!
All that and the Mets will still finish 30 games ahead of the rotten Fish. Man you finish behind the Wilpons?! Now that’s rough.
We most likely finish in last this year, but with the high probability of your Mets imploding, I would not guarantee that. The Mets and Phillies are volatile enough for an implosion that the Marlins have a serious chance of passing either one of you in the standings. Spring Training hasn’t even started yet, and the Mets are already getting started on their incompetence.
Bro I’m not disagree with you that the Mets and Phillies could implode. Even tho I don’t think it could happen it’s not like it hasn’t happened. But what you don’t seem to understand is that even if the Mets and Phillies imploded they would still 100% finish ahead of the marlins in 4th place
Well, we’ll see. I know one thing. This is a year where I could easily see us leapfrogging one or both of you with what we have coming. For the one, or both of you that implode, with what we have coming up at different points this year (and in next couple of years), I can see a late season burst by us that jumps us over one of your two teams if one or both of you have imploded. The thing about volatile teams is sometimes those implosions are far worse than ever expected. Your a Mets fan. See 1993. It is a regular thing to see teams that think they’ll contend going on to finish in last, behind rebuilding or less talented teams.
You guys can have your thoughts. And I certainly am understanding that we very likely finish in last again this year. But, I’m seeing that it’s not a guarantee because I see what we have and what potential is there. I also know that a good implosion by one or both of your teams, that huge standings gap shrinks up real fast. It’s like being in a marathon ahead of a very slow runner by about a mile, but you have fragile shins, then you fall and break something (implode) and can’t do anything as the person that was a mile behind keeps running and passes you. Your Mets and the Phillies have fragile shins for this race. The Marlins are the little kid that has been growing up.
It’s there. It’s fine if you can’t see it. It’ll be much more enjoyable.
That’s funny. There’s close to a zero chance of the fish not finishing last.
The last fan base in major-league baseball to be making fun of the New York Mets fan base is the Marlins fans. Coming from a Yankees fan both of you guys route for teams that are beyond hope but the last fans to make fun of them are Marlins fans.
You mean to tell me that the fans of the team that has won 2 championships in 27 seasons shouldn’t be making fun of the team that has 2 championships in 58 seasons? And shouldn’t be making fun of the team with the longest championship drought in the NL East?
Not when your about to lose 100 lol
Not when you’re about to lose 100 lol
I wouldn’t give that a 100% guarantee. Nor a 100% guarantee of last place.
BTW…1986!
Won a pennant in 2015. Have the 2019 Rookie of the Year/home run king, and a back-to-back Cy winner. When’s the last time the Marlins were even relevant? When’s the last time you had a player worth watching? Stanton? Yelich? Fernandez? Where are they now?
When’s the last time the Mets won a championship?
They came close that year Hedo hit 50 homers but Rowengartner shut them down in the NLCS
Yes it is not good that the Mets have only 2 rings in 58 years, and it is also laughable the Mets have not won since 1986, but you make it sound like the Marlins have been a force to reckon with in their lifetime. Great they have 2 world titles in far less years.
They have had just as bad, if not worse owners in their existence. They also have 21 losing seasons in their 27 years of being a franchise. They never won the division. They never have been a team of relevance even after winning it all.
I get it though. I see why you never comment on Marlins posts and it’s because no one cares about them. You being a Marlins fan is not you cheering for your team, it is more of you just being bitter and hating on the Mets.
Not sure what made you be the Mets biggest troll, especially if they are the “laughing stock of the NL East”.
He’s in South Florida. I am as well. It’s embarrassing how there are FAR more Mets fans than Marlins fans down here. I probably would be somewhat resentful too if they were my team. Unfortunately he can’t see clearly through that bias though.
God, you ask that question 20 times a day, every day. Could you be more of a pathetic troll?
Wilponzis are the MLB version of James Dolan. Knowingly ruining a franchise and refusing to sell.
How about this for a scenario of hope for Mets fans:
Because of the current ownership advertising the fact that they are both greedy and incompetent (while also planning to give executive power to an incompetent indefinitely, regardless of who owns the team), the market value of the organization drops because investors are wary of taking on that much of a risk, causing an imbalance in Sterling Partners’ assets and dragging them underwater, forcing them to choose between their real estate assets and their ownership of the Mets in a bankruptcy situation. MLB and Rob Mansplain are forced to put the Mets into receivership for immediate sale/auction without any stipulations to impede getting decent market value and allowing the buyer to have immediate control. In walks Cohen, coolly lays down a nice bid and waits patiently until his bid is accepted, signs the terms, gets the keys, throws all of Sterling Partners’ stuff in a gondola on Tom Seaver Way and then plans a Fan Day Extravaganza for All-Star Weekend…
Even for non-Mets fans, it’s a generous dream, but not impossible to root for.
You forgot the part where Steve Cohen rides in on a flying unicorn as he waves his Gandaulf powers to create Willy Wonka cotton candy clouds that rain sweet tart stars, while the Avengers fly around him to get him passage into Queens.
The parameters the current ownership want someone to buy the team under is a joke. Michael Kay said it best yesterday when he said “that’s like me selling you my car but telling you I can still drive it for the next seven years“.
Why would anyone want to pay 2.6 billion to acquire majority ownership but allow Jeff Wilpon to be CEO of the team? I would think a buyer would want to put his own people in charge. If that’s the condition the Wilpons insist on, then good luck finding a buyer.
Cespedes just called – he’s boared with all this talk about the Mets.
Congrats Mets fans, suddenly there is hope.
Now that’s what I call being facetious!
The Wilpons will try and negotiate a deal so they are still in key positions after the deal and NOBOBY will agree to that do there will be no deals
Anyone interested in buying something that they can’t have for 5 years? No. Sell the team or don’t, but this half measure sale is too stupid for words.
I called it a year+ ago, when the Wilpons hired Jeff’s golfing buddy.
Even the Wilpons weren’t stupid enough to hire an agent unless they were looking for someone to take over from Fred in a more comprehensive manner than just GM’ing the Mets are were preparing to sell. As for the idea that Jeff would continue as COO, running the club into the ground for 5 more years, that would be enough to give any billionaire pause.
Let’s see what ludicrous nonsense they can pull next. Just sell. Just xxxxing sell.
Hello, I’m Mr A. Buyer. I believe you have a letter for me.
****MUST have Wilpons completely REMOVED from ALL Baseball/Front Office decisions upon Sale of Club AS SOON as deal completed !!!!! Sayonara Wilpons don’t let the door hit ya where the Good Lord split ya !!!!!
Nice to know you can read the talking points from aoc or bernies website.
What’s bernie got to do with it? Is this just a random, childish political turd in the pool from someone with lack of social sphincter control?
Perfect buy for Trump/Kushner.
Only really billionaires are allowed to play in that end of the pool… maybe Bloomberg is interested?
Please Contact Bill DeWitt Jr. maybe he’d sell the Cardinals and buy the Mets!!!
The NYMs are the only team in the world where ‘the owners are selling the team’ is considered a marketing campaign.
Despite the constant whining of fans, talent in the Mets organization and on the active roster is excellent.
In order to maintain trust you have to first have trust. What a joke of a statement.
Mets fans lucked out with the Cohen deal falling through. That guy is as shady as they come. Mets future looking bright.
To the Wilpons:
I agree to your terms. $2.8 bill. for 80% stake. You can run the team for five years. Will you accept a post-dated check for post-dated control?
I await your response.
Scott
Hey Wilpons, no one believes your offer to sell is sincere or sane. Stick it.
May be time to put them on Craigslist
They can meet in a public place like a Walmart parking lot to seal the deal.
You heard it here first. The sale of the mets will take place a week before spring training by a former baseball player.
If a critical element of the deal is that the Wilpons maintain managerial control for an extended period, they are going to have to find a very unusual Buyer, or accept a substantial discount.
In the contrary, now they can offer to give complete control immediately but at a premium cost
But do you really believe Jeff Wilpon is prepared to do that? I mean didn’t the deal collapse at least in part because the Wilpons were seeking to expand his control beyond that originally envisioned in the deal? Hardly seems like they would suddenly be open to withdrawing from having him continue to run operations post-sale.
Money talks
How about Mike Bloomberg since he’s buying up everything
Does Marc Cuban need a baseball team?
Can’t happen soon enough.
Fox Business just reported that MLB sources are saying nobody with that kind of money is interested in buying the team, and that most Wilpon and Katz family members are really upset with the missed opportunity with Cohen.
So are Mets fans.
A normal sale under normal terms Yay!
I have no confidence they will ever sell this team.
They have to sell the team because they broke MLB policy. If they don’t sell it soon it could go into receivership. Then MLB will make all of the decisions for them.
The Rock should buy the Mets. after all he did buy the Kansas City Chiefs