Wilpons Get Life Preserver
According to an official press release, the Mets have selected David Einhorn as their new minority partner.
Per the release:
The New York Mets today announced that David Einhorn has been selected as the team’s preferred partner and that the Mets and Mr. Einhorn have entered into exclusive negotiations with respect to a minority, non-operating investment in the team. The $200 million personal investment by Mr. Einhorn is subject to the negotiation of a mutually acceptable definitive agreement for the transaction, as well as required approvals by Major League Baseball. The parties expect to enter into definitive agreements by late June.
I am so happy that Einhorn has come on board to save the Wilpons from drowning. I was very concerned that Fred and Jeff might not be part of the team’s future, but it appears as though Einhorn has the wherewithal to pay down the team’s debt and make sure the bills get paid. And best of all, he’s only a minority owner, so the Wilpons still have control of the team. Hooray!
Though, some suspect that Einhorn could eventually become the majority owner, if a few things don’t fall the Wilpons’ way.
If you don’t know anything about David Einhorn, no worries — he has a Wikipedia page. In case you don’t have time to read it, the short story is that a) he’s a Mets fan; b) he manages a hedge fund called Greenlight Capital; and c) he thinks Steve Ballmer is doing a lousy job at Microsoft.
What does this mean for Mets fans? Not much, yet. All we know is that the bills are likely to be paid through the end of the year. A new chapter in Mets history is just beginning.
About the Author
A Mets fan since birth, Joe Janish began MetsToday in 2005 to provide the unique perspective of a high-level player and coach -- he earned NCAA D-1 All-American honors as a catcher and coached several players who went on to play pro ball. As a result his posts often include mechanical evaluations, scout-like analysis, and opinions that go beyond the numbers. Oh, and he's often a bit cranky.
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Given proper management of the team’s funds and roster throughout the organization, there is no reason why the Wilpons can’t own the team and still have a successful franchise. I think the major reason Selig has stood by Fred is that overall he has done really good things, and if he can get past this lawsuit somehow, continue to do good things with this franchise.
Regardless of how long it took, he finally has someone in charge of baseball operations capable of being responsible and forward thinking. Thus, unless he loses this case, and loses everything, Fred will be the primary owner of the Mets. Deal with it.
AH HA HAHA HA HA HA HA HA HA HA !!!!!
Dude, you should quit your day job and do standup comedy. There are so many funny things in that post I’ve fallen off my chair!
Fred has “done really good things” … hysterical !!!!!!
Joe you should sign this guy up to write some posts, we can use a good laugh every now and then.
He build Citi Field, started SNY, brought baseball back to Brooklyn, and until Madoff blew up in his face had the third highest payroll in baseball the past decade. Just because his team didn’t win didn’t mean he wasn’t successful as an owner. His dumb ass decisions on leadership in the front office took care of that. From Selig’s perspective Fred is well liked and largely seen as successful.
I am speaking from Selig and other owner’s perspective. As a fan I’ve hated him since he took over the team as 100% owner in 2002. Instead of being blinded by what’s on the field and in the tabloids you should try to look at it from Selig’s perspective. Fred is not going anywhere if the Madoff stuff goes away. You have to deal with that. There’s a reason McCourt got blackballed by baseball and Wilpon did not. That was my only argument.
Selig’s perspective is the worst one. Isn’t he the money-grubbing d**chebag who turned the game into home run derby, introduced interleague play, allowed steroid abuse to run rampant, and thought we wouldn’t notice when he moved his Brewers out of the AL Beast and into the NL Central?
Why are you speaking from the owners perspective? Is your last name Wilpon?
Well instead of pointing out that the Brewers never played in the modern AL East (post Wild-Card), or even that Inter-league play is one of the most successful ideas in baseball history (more revenue), I will just say clearly you are the type to not care at all about anything but your own opinion.
The reason I’m speaking from their perspective is to deliver the realization that escapes most Mets fans: Wilpon is not going anywhere if he wins that lawsuit. Baseball likes him, and anyone remotely capable of seeing things from perspectives other than their own could easily see that. Also the point is that baseball measures success differently than fans. Very differently in fact.
< < His dumb ass decisions on leadership in the front office took care of that >>
Agreed. He never should have let Jeff Wilpon run the team. That would never have happened had Nelson Doubleday still been around.
Not sure I agree that the team can be successful with Fred and Jeff at the helm. They were hemorrhaging money as of 2008 — in the midst of success on the field — and the fans are growing increasingly frustrated with ownership, to the point where they are staying away from the ballpark. I will be surprised if the Wilpons still have control of the team a year from now.
Well Joe I guess since I believe we are stuck with him I’d like to believe that Alderson can do a good enough job to make it happen. From that perspective I have no other choice. None of us do.
Finkle IS Einhorn….EINHORN IS FINKLE!!!!
This bodes well for Mets fans, Einhorn is a straight shooter with a chip on his shoulder against card cheats like Wilpon. Champion poker player, too, and an investment guru with a knack for sensing and seizing weak points. He killed on short positions when Lehman collapsed. In other words, he predicted the collapse and cashed in, big time. I wonder how long he’s been watching the Mets and waiting for the opportunity. At the very least he makes the team solvent, and if I read him right – lots of documented speeches from him out there, btw – he believes in real value.
Now, the matter in Wilpon losing control is a matter of when, not if. When Selig goes so does Fred’s #1 fan. Bud realizes this and I wonder if he won’t mainstream Einhorn into the league’s best graces as a parting gift for the game that – agree with him or not – he has served in what he thought was its best interests.
Joe, i didn’t know that Jeff wilpon (aka mike) reads your blog.Excuse me, but fro the minute citifield opened up, Wilpon was exposed.Overpriced 5 tier ticket pricing, overpriced parking, food and he builds a club for the fans (caesars level) that u can’t see the field from.Just rembered, videos in the rotunda honoring players who never played for the mets, obstructed seat views and fences in the gaps so far from home plate that he almost singlehandlely destroyed the best player on the team (wright).Thanks Mike for the comic relief
I don’t want to be too negative.I have to give the Wilpons credit for one thing.Now that the team draws about 10,000 fans per game it is much easier to get in and out of the games than it used to be.Thanks Fred
What a bunch of haters. Rabid too. Cheers to you Mike for your rosy optimism. It says a lot about a person who is willing to look at the brighter side of things, and it speaks for itself when someone is so willing to trash another person that they don’t even know. Projecting, they call it in psychology. Nice to hear from someone whose not a douchebag. Good job Mike.
Lets go Mets
Hey I root for athletes that I do not know. I vote for politicians that I do not know. I enjoy movies with actors I do not know.
I know Fred Wilpon just as much as I know 99% of the people I see on TV, hear on the radio or watch in a movie theater.
Fred Wilpon is as shady and full of failure as Jose Reyes is fast and exciting, as Tom Hanks is a solid actor and as Joe Biden is clueless.
It’s a shame Fred Wilpon’s pants come with a zipper. It just adds an extra step in the process of YOU sucking HIS dick. Try not to get Jeff all over your face next time.
SUCKA!
Okay “Kenny from Crooklyn”, say what you want about Jeff. But Fred made a real estate empire that allowed him to buy a sports team in the biggest sports market in the U.S.
What have you done? I’ll take my character judgment from someone who knows Fred Wilpon, and not someone who thought it would be cool to use slang from the 80′s. Suck on that bitch
It takes one to know one.I didn’t trash the guy,Just questioned his sanity.I’m tired of the losing.I don’t call any other posters names.I guess guys like u feel better after u call someone a name.
Gary I’ve said it many times and I’ll say it again: nothing you ever say is read by me so long as you can’t spell, type or use grammar. The internet is for Trolls and you are one in every sense of the word.
As for Nick, thanks for the support, but really I’m not even that optimistic. I’m realistic in that I think we are stuck with Wilpon. What else do we have in that case? Alderson is it. I’m excited that Einhorn might bring a fresh face and ideas to the table, but I doubt he will have any real influence for the time being. Maybe in the future if we are lucky.
Ryan said probably the most convincing thing so far. When Selig leaves if Wilpon is not settled Einhorn might get his chance to buy out the Mets. Well said, sir.
Mike, EXCUSE ME!!!!!!! You need a life, sir.I hope you find one before your time is up.Btw, the way there is a word for guys like you, who decides who’s a troll, who’s not a troll.Whose grammar is ok and so on.But, since i don’t like to engage in dumb name calling,i will let you figure out on your own what the word is.One more thing, one of the main reasons i enjoy this blog is that Joe has a sense of humor about things.You should consider getting one at your earliest convenience.