Baseball for the Thinking Fan

Login | Register | Feedback

btf_logo

News

All News | Prime News

Old-School Newsstand


Contributors

Jim Furtado
Founder & Publisher

Syndicate

Mets Being Mets Newsbeat

Tuesday, April 28, 2020

A-Rod, J-Lo and the Mets Ownership Possibilities

At the end of last year, it looked like the Wilpon family might sell the New York Mets to Steven Cohen for around $2.5 billion. The proposed sale was an unusual one. It did not include SNY, the Mets’ regional sports network, which is owned by the Wilpons; the Wilpons were also set to maintain some degree of control of the team for years after the sale. In what didn’t come as much of a surprise given the deal’s unusual nature, things fell apart and the Mets are once again looking for new owners. Enter Alex Rodriguez and Jennifer Lopez.

As reported by Scott Soshnick in Variety, Rodriguez and Lopez have sought help from JPMorgan Chase to raise funds to purchase the team. The piece notes that A-Rod and J-Lo have a combined net worth of around $700 million, which is obviously well short of what is needed to meet a potential purchase price over $2 billion. While that gap might appear insurmountable, an A-Rod/J-Lo owned Mets team isn’t as far-fetched as it may seem. First, consider that any purchase of this type is going to be financed with a considerable amount of debt. As Tom Ley wrote in his analysis of the Cubs’ previous sale — in the Ricketts’ initial plans to purchase the Cubs, there was talk of financing as much as $750 million of a potential $1.15 billion deal, though in the end, they paid $845 million and financed $450 million — teams are bought with significant amounts of financing:

Ted Lerner purchased the Nationals for $450 million in 2006, and the “Debt Primer Presentation” GSP sent to the Ricketts includes the details of that sale as a case study for how a highly leveraged purchase can work. Lerner took on the maximum amount of debt—$360 million—in order to purchase the team. Jim Crane bought the Houston Astros for $615 million in 2011, reportedly by taking on $300 million in debt; the Dodgers ownership group assumed $412 million in debt when they purchased the team in 2012.

Generally, teams are not allowed to carry debt greater than eight times their earnings before interest, taxes, depreciation, and amortization (EBITDA). That would present a problem for the Mets, but the rules are slightly different for purchases. Under the current CBA, the provision regarding sales essentially indicates the need for a plan subject to approval by the Commissioner

They could always raise the needed money from the gym owners of Florida…..

QLE Posted: April 28, 2020 at 01:15 AM | 19 comment(s)
  Beats: alex rodriguez, finance, mets being mets, mets mets mets

Saturday, March 28, 2020

Report: Mets Trying to ‘Drum Up Interest’ in Sale During Coronavirus Hiatus

The New York Mets aren’t letting Major League Baseball’s hiatus stop them from achieving one of their ultimate goals: selling the team. 

While the baseball season remains indefinitely suspended because of the coronavirus pandemic, the Wilpon family, which controls the franchise, continues to seek prospective buyers despite a sharp decline in both the market and interest in the team from some suitors.

After the sale of the team to Steve Cohen for $2.6 billion fell apart in February, the Wilpons have continued evaluating their options, according to Daniel Kaplan of The Athletic, but with little luck:

“Trying to sell a team in this environment is, to say the least, not ideal. One investment banker who pre-pandemic had two buyers interested, reported they had lost 20 percent of their wealth and had ended their pursuit. [...]”

If it pleases the Wilpons any, I’ll put up $1 to buy the team.

 

 

QLE Posted: March 28, 2020 at 12:48 AM | 14 comment(s)
  Beats: mets being mets, wilpons

Wednesday, March 25, 2020

Mets’ Noah Syndergaard to have Tommy John surgery for torn UCL

New York Mets right-hander Noah Syndergaard has a torn ulnar collateral ligament in his pitching elbow and will undergo Tommy John surgery this week, the team announced Tuesday.

Dr. David Altchek will perform the surgery Thursday at the Hospital for Special Surgery, according to the Mets.

“After experiencing discomfort in his elbow before spring training was suspended due to the pandemic, Noah and our health and performance department have been in constant contact,” Mets general manager Brodie Van Wagenen said in a statement. “Based on the persistence of his symptoms, Noah underwent a physical examination and MRI that revealed the ligament tear. A second opinion from Dr. Neal ElAttrache confirmed the diagnosis and the recommendation for surgery.

“Noah is an incredibly hard worker and a tremendous talent. While this is unfortunate, we have no doubt that Noah will be able to return to full strength and continue to be an integral part of our championship pursuits in the future.”

 

QLE Posted: March 25, 2020 at 12:23 AM | 1 comment(s)
  Beats: mets being mets, noah syndergaard, tommy john surgery

Thursday, February 20, 2020

Steve Cohen still lurking over potential sale of the New York Mets (Report)

Steve Cohen’s bid is still looming large over the Wilpons’ potential sale of the New York Mets. SNY could also be involved as well.

Daniel Kaplan of The Athletic is reporting that the New York Mets‘ sale is being hurt by Steve Cohen‘s presence. Sports bankers are telling Kaplan that potential buyers are afraid of being used as a “stalking horse” in the process.

Potential buyers are scared that they’ll put together a bid and the Wilpons will crawl back to Cohen. They don’t want to waste the time and effort to put together an offer if it’s not going to mean anything.

Cohen is also still present in the Mets organization. He owns eight percent of the team. That means he’s going to be privy to most notes about a potential sale of the team, which will allow him to play defense and create a better opportunity for himself.

As always, my apology for not being able to link to the original pay-walled source.

 

QLE Posted: February 20, 2020 at 12:45 AM | 0 comment(s)
  Beats: mets being mets, mets mets mets

Friday, February 07, 2020

Mets’ $57 million stadium renovation won’t be finished for the beginning of spring training

PORT ST. LUCIE — Renovations to Clover Park, the spring training home of the New York Mets, won’t be completed by Monday, when pitchers and catchers report to begin preseason workouts.

The $57 million overhaul of the 7,100-seat stadium is only 62% complete, according to a December quarterly construction report St. Lucie County sent to the state. The county, which owns the 32-year-old stadium, released the report Monday.

County officials now hope to have work on the stadium done by Feb. 24, two days after the Mets’ spring training home opener. The entire project — including landscaping and other aesthetic items — is to be completed by June 3, according to the report.

The county Thursday did not provide updated completion status of the project. Officials could not provide reasons for the delay.

Rather fitting as a Mets story, isn’t it?

 

QLE Posted: February 07, 2020 at 01:07 AM | 9 comment(s)
  Beats: mets being mets, spring training, stadium renovations

Thursday, January 30, 2020

Mets reportedly had interest in Pablo Sandoval before infielder signed minor-league deal with Giants

Pablo Sandoval is sticking with the San Francisco Giants, returning on a one-year minor-league deal reportedly worth $2 million.

According to MLB Network’s Jon Heyman (who also broke the news), both the Mets and Phillies were interested in Sandoval before he elected to return to the Bay Area.

Sandoval, 33, began his major-league career as a third baseman but now can play both corner infield positions, having made 47 appearances at first base over the past two seasons.

Rather surprising that there was a bidding war for Pablo Sandoval at this point in his careed- somehow not surprising, once that was a given, who the two losing teams were….

 

QLE Posted: January 30, 2020 at 01:00 AM | 20 comment(s)
  Beats: hot stove, mets being mets, pablo sandoval

Thursday, January 23, 2020

Mets hire ‘respected’ Rojas as new manager

NEW YORK—When the Mets parted ways with Carlos Beltrán last week before he managed a single game, the situation had potential to send their offseason into chaos. With less than a month until Spring Training, the Mets lacked an on-field leader.

To patch that hole as seamlessly as possible, they looked within the walls of their own clubhouse. The Mets are close to finalizing a multiyear deal to make Luis Rojas their next manager, general manager Brodie Van Wagenen announced Wednesday, pivoting from Beltrán to one of the industry’s most well-respected rising leaders.

The son of longtime Major League player and manager Felipe Alou, and the half-brother of former Mets outfielder Moises Alou, Rojas was the Mets’ quality control coach and outfield instructor last season. That was the 38-year-old’s first experience on a big league staff, after he spent 13 years as a coach and manager in the Mets’ Minor League system. Rojas also has experience managing in the Dominican Winter League.

“He has literally trained his whole life to be a manager,” Van Wagenen said. “He comes from a legacy family. … He is respected by the players. He is trusted by the players. And he’s someone that we have great confidence in, [with] his ability to lead our team now.”

One down, two to go.

 

QLE Posted: January 23, 2020 at 12:22 AM | 45 comment(s)
  Beats: luis rojas, managers, mets being mets

Friday, January 17, 2020

Piazza: MLB mess ‘unintended consequence’ of game’s new era

To Hall of Fame catcher Mike Piazza, the sign-stealing scandal that’s enveloped Major League Baseball signals where the sport is these days.

“Unfortunately, it’s an unintended consequence of the digital age and all this information,” Piazza said.

Piazza was at the New York Mets’ spring training complex on Thursday for a street naming ceremony, two hours before the team let go new manager Carlos Beltrán.

Beltrán was the third manager to lose his job this week in the wake of the cheating scheme by the Astros. Houston manager AJ Hinch was suspended by MLB and then fired by the club.

That reminds me- has Murray Chass offered his thoughts on these matters yet?

QLE Posted: January 17, 2020 at 12:42 AM | 19 comment(s)
  Beats: mets being mets, mike piazza, shame and scandal, spring training

Friday, January 10, 2020

Mets extend spring training invite to Tim Tebow

The New York Mets just can’t quit Tim Tebow.

Despite hitting just .163 with four home runs in 77 games at Triple-A Syracuse in 2019, the Mets have extended a spring training invitation to the 32-year-old former Heisman Trophy winner. He’s one of eight non-roster invitees the club announced on Thursday.

Tebow begins his fourth full season in the Mets organization and owns a career batting line of .223/.299/.338 with 18 home runs and 327 strikeouts in 287 games. His 2019 season ended on July 21 with a laceration to his pinkie on his left hand. His 2018 season also ended early when he missed the final two months with a broken bone in his right hand.

Tebow, who works for the SEC Network as a football analyst during his baseball offseason, isn’t a legitimate prospect, given his age and lack of production. The Mets have received criticism in the past for giving Tebow playing time in the minors over other players who might actually help the Mets in the future.

Well, now’s the season for this sort of thing, I suppose…..

 


 

 

News

All News | Prime News

Old-School Newsstand


BBTF Partner

Dynasty League Baseball

Support BBTF

donate

Thanks to
Dingbat_Charlie
for his generous support.

Bookmarks

You must be logged in to view your Bookmarks.

Hot Topics

NewsblogEmpty Stadium Sports Will Be Really Weird
(6470 - 1:58am, Jul 04)
Last: Mayor Blomberg

Newsblog31 MLB players, 7 staff test positive for COVID-19, or 1.2%
(4 - 12:12am, Jul 04)
Last: the Hugh Jorgan returns

NewsblogOT – NBA Revival Thread 2020
(460 - 11:55pm, Jul 03)
Last: If on a winter's night a traveling violation

NewsblogOT Soccer Thread - Spring 2020
(353 - 11:39pm, Jul 03)
Last: Jose Needs an Absurd Ukulele Concert

NewsblogAthletics To Trade Jorge Mateo To Padres
(8 - 11:23pm, Jul 03)
Last: Walt Davis

NewsblogAubrey Huff Says He Would Rather Die From Coronavirus Than Wear a Mask
(155 - 10:42pm, Jul 03)
Last: Mayor Blomberg

NewsblogWith baby on the way, Trout unsure if he'll play
(2 - 10:33pm, Jul 03)
Last: Zach

NewsblogBill James: Why We Need Runs Saved Against Zero
(175 - 9:30pm, Jul 03)
Last: TJ

NewsblogMLB teams can't identify players who test positive for coronavirus
(24 - 9:27pm, Jul 03)
Last: RoyalsRetro (AG#1F)

Newsblog'I got crushed': Chicago Cubs pitching coach Tommy Hottovy details harrowing COVID-19 battle
(21 - 8:56pm, Jul 03)
Last: What did Billy Ripken have against ElRoy Face?

NewsblogBillionaire Mike Repole joins A-Rod and J-Lo’s bid for the Mets
(30 - 8:48pm, Jul 03)
Last: The Yankee Clapper

NewsblogRob Manfred admits MLB never intended to play more than 60 games
(19 - 8:26pm, Jul 03)
Last: McCoy

NewsblogCubs' Jose Quintana hurt washing dishes, has surgery
(22 - 7:41pm, Jul 03)
Last: Walt Davis

NewsblogTigers sign Spencer Torkelson to record-setting bonus
(30 - 6:43pm, Jul 03)
Last: Sunday silence

NewsblogTigers are first MLB team with official gaming partner
(8 - 6:10pm, Jul 03)
Last: manchestermets

Page rendered in 1.1462 seconds
84 querie(s) executed