Fred Wilpon

The Wilpons are looking to sell a minority stake in the Mets

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As everyone know, Fred Wilpon was taken for a bunch of money in the Bernie Madoff scam.  Yeah, he “broke even” in the sense that he got back his investment, but that was just because he was one of the early lucky ones who got their ponzi scheme money back.  It wasn’t real investment earnings, and because of the way the law works with respect to ponzi schemes, Wilpon is probably going to be on the hook to give back the phony earnings Madoff gave him in order to make those who truly lost their shirts whole again.  There’s a lawsuit to that effect pending right now, and eventually Wilpon will likely have to fork over an awful lot of money.

It is then little surprise that today the Wilpons announced that the Mets ownership group is looking for “strategic partners” to “provide additional assurance that the New York Mets will continue to have the necessary resources to fully compete and win.”  Translation:  we’re looking to sell a stake in the team so we can get some cash.

The Wilpons say in their statement — the entirety of which is reprinted below — that they intend to maintain majority control of the team.  Of course, as in war, no battle plan ever survives contact with the enemy, so it’s not like they can promise that they’ll keep control.  If someone is willing to bail them out in a highly beneficial manner but demands majority control of the team, the Wilpons would have to consider it, right?

It’s been known for some time that another shoe could drop with respect to the Madoff business, and this is apparently it.  In the short term, however, it shouldn’t have much of an impact on the Mets as a baseball team.  They were already facing big payroll obligations for 2011 and have set out on something of an austerity plan in light of it.  They haven’t made big moves this winter and clearly aren’t poised to do so until the payroll goes down.

In the long term: this could mean major changes for the Mets franchise.

Fred Wilpon, Chairman and Chief Executive Officer of the New York Mets, and Jeff Wilpon, Chief Operating Officer of the New York Mets, issued the following statement:

As Sterling Equities announced in December, we are engaged in discussions to settle a lawsuit brought against us and other Sterling partners and members ofour families by the Trustee in the Madoff bankruptcy. We are not permitted to comment on these confidential negotiations while they are ongoing.

However, to address the air of uncertainty created by this lawsuit, and to provide additional assurance that the New York Mets will continue to have the necessary resources to fully compete and win, we are looking at a number ofpotential options including the addition of one or more strategic partners. To explore this, we have retained Steve Greenberg, a Managing Director at Allen & Company, as our advisor.

Regardless of the outcome of this exploration, Sterling will remain the principal ownership group of the Mets and continue to control and manage the team’s operations. The Mets have been a major part of our families for more than 30 years and that is not going to change.

As we have said before, we are totally committed to having the Mets again become a World Series winner. Our fans and all New Yorkers deserve nothing less.

Report: Marlins will retire Jose Fernandez’s No. 16

MIAMI , FL - SEPTEMBER 09:  Pitcher Jose Fernandez #16 of the Miami Marlins throws against the Los Angeles Dodgers at Marlin Park on September 9, 2016 in Miami, Florida.  (Photo by Marc Serota/Getty Images)
Marc Serota/Getty Images
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The entire Marlins roster will wear the number 16 on the backs of their uniforms in remembrance of pitcher Jose Fernandez, who died in a boating accident on Sunday morning. After that? “No one will wear No. 16 for the Marlins again,” team owner Jeffrey Loria said on Monday evening, as Tyler Kepner of the New York Times reports.

Though Fernandez only pitched parts of four seasons for the Marlins, he already ranks fifth in career WAR in club history, according to Baseball Reference. He also owns the best career winning percentage as well as the second-lowest single-season ERA (2.19 in 2013) and the second-lowest single-season WHIP (0.979 in 2013). Fernandez was already one of the best pitchers in Marlins history and was on his way to becoming a perennial All-Star, if not a Hall of Famer.

Then add to that his outstanding personality and what he meant both to the Marlins organization and to the city of Miami. Loria has gotten a lot of criticism over the years, but he nailed it with this decision.

Report: Majestic workers stayed up all night making No. 16 jerseys for the Marlins

MIAMI, FLORIDA - APRIL 05:  Jose Fernandez #16 of the Miami Marlins looks on during 2016 Opening Day against the Detroit Tigers  at Marlins Park on April 5, 2016 in Miami, Florida.  (Photo by Mike Ehrmann/Getty Images)
Mike Ehrmann/Getty Images
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As Craig mentioned earlier, the Marlins will all wear No. 16 jerseys to honor pitcher Jose Fernandez, who tragically died in a boating accident on Sunday morning. It’s a fitting tribute as the Marlins return to the playing field after Sunday’s game was cancelled.

We don’t often hear about the behind-the-scenes stuff that goes on during these special circumstances. As Clark Spencer of the Miami Herald reports, workers at the Majestic manufacturing facility in Easton, PA — about two hours north of Philadelphia — stayed up all night Sunday night into Monday morning in order to make those custom No. 16 jerseys for the Marlins. They were shipped via air so they would arrive in time for the game tonight.

FanGraphs writer Eric Longenhagen notes how hard those Majestic employees work — often for low pay :

Kudos to Majestic for making a concerted effort to help the Marlins out in their time of need.