Fred Wilpon Newsbeat
Friday, October 30, 2015
To get a sense of the financial challenges still facing the team, earlier this week Daily Intelligencer emailed Howard Megdal, a journalist and author of the book Wilpon’s Folly, about whether they’re truly moving past Madoff, how much this World Series appearance might help, and whether they’ll be able to afford to bring back Yoenis Céspedes. [...]
“Has anything Mets-related since the day Wilmer Flores wasn’t traded happened the way it used to? It’s why you’re seeing so many Wilpon stories right now. People are tired of it. I’m as tired of it as anyone. And it’s appealing to think everything has changed in Mets land. Too bad Daniel Murphy home runs don’t pay down debt. They just make Daniel Murphy more expensive.”
Posted: October 30, 2015 at 12:10 AM | 2 comment(s)
Wednesday, September 09, 2015
ersey office supply company, has been charged with wire fraud and aggravated identity theft for allegedly defrauding an investor of $3.5 million. He is accused of forging fraudulent agreements with 58 companies, which led the investor to purchase $3.1 million in office equipment. Conway is said to have pocketed much of the money.
Conway is alleged to have presented the investor with a letter from the Mets containing Wilpon’s forged signature. Based on the forged letter, the investor sent $500,000 to Conway and a second investor sent an additional $313,000, the FBI said.
Friday, July 24, 2015
Accordingly, when someone like Ben Zobrist, a utility player long coveted by the front office, becomes available, Alderson faces this: WFAN’s Ed Coleman reported that the Mets don’t want to pay the remaining balance on Zobrist’s 2015 salary, between $2-3 million.
That’s outrageous. That amount is a small fraction of the found money the team has recovered from the insurance policy on David Wright’s contract—75 percent of his $20 million contract after the first 60 days missed. It’s an even tinier fraction of the enormous debt load the Mets’ owners finance against the team, SNY and twice-annual debt balloon payments on Citi Field every single year.
And ironically, the fans and media have been so conditioned to malpractice, to a team in need of so much doing so little, that even a trade to add some small portion of their already-recouped money from David Wright’s extended absence will be treated like a major victory, adding a few million dollars in payroll to the bottom third salary bill in the largest market will be written about in some quarters as a virtual Steinbrennerian feat.
Posted: July 24, 2015 at 06:38 AM | 44 comment(s)
for his generous support.
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