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.
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.
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.
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.
Why are you speaking from the owners perspective? Is your last name Wilpon?
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.
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.
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.
Lets go Mets
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!
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
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.