With their $200 million cash infusion from David Einhorn scuttled, Fred Wilpon and Saul Katz are taking a different tack. Richard Sandomir and Ken Belson report that they’re looking into selling smaller stakes “to people willing to invest perhaps $20 million each.” Hurm.
Being a minority investor in a closely-held corporation is not great to begin with. You have no control, really. It’s the sort of thing that, as the Einhorn negotiations showed, would almost compel you to want to (a) have some mechanism to make it a REALLY great investment on its own terms, such as you getting most of your money back later; or (b) have some mechanism by which your minority share could be transformed into a controlling interest at some later date.
But now Wilpon and Katz are basically looking for vanity investors. People who want to be able to say “I own a piece of the Mets.” As the Times story notes, it’s often the case that “such investors simply want the perks of ownership, like access to suites and the team’s players. Most of these investors do not have ambitions of being majority owners.”
It may be easier to find those kinds of investors, but getting them together, making sure they pay — and continue to pay later when losses need to be covered — and then managing the suddenly-larger ownership group is probably something of a headache.
The World Series is often played in near winter-like conditions. The 2008 Series was interrupted by a snowy, wintry mix. The 2012 World Series games in Detroit dipped into the 20s. It’s not uncommon to see players wearing balaclavas and other winter gear during the so-called “Fall Classic.”
Not this year, though. Indeed, this year we’re likely to see record high temperatures for Games 1 and 2 at Dodger Stadium.
As of this moment, WeatherUnderground.com forecasts a high in Los Angeles of 101 degrees for today’s World Series Media Day and highs of 102 and 98 for Games 1 and 2, respectively. First pitch for both games is just after 5PM Pacific time, when the sun will still be blazing. The sun will set about an hour or so in to the game which should cool things off somewhat, but the heat will definitely impact pregame workouts and the early innings. Fans showing up three or more hours before first pitch will do well to prepare themselves for the elements.
The hottest World Series game on record came in Phoenix for Game 1 in 2001 when the mercury stood at 94 degrees at game time. That year Major League Baseball unwisely demanded that the Chase Field roof be left open for the Diamondbacks-Yankees tilt. If there is a Game 6 and/or 7 things will be nicer as the long range forecast shows temperatures in the low 70s by then.
Hydrate well, Dodgers and Astros. Those of us watching from cooler temperatures and/or the comfort of our air conditioned homes will feel really bad for you.