Once or twice a month we get a new story about how the Mets have sold several of those minority stakes they’ve been peddling for close to a year. The stories always have a bit of an optimistic “we’re almost there!” spin to them. The latest appeared yesterday as the Newsday — and then the other New York papers — reported that the Mets have sold 7 of the 10 shares.
Except, as Howard Megdal explains, it’s all highly misleading. Six of those seven shares are slated to go to related entities, not outside investors. The seventh is Steven Cohen, who is clearly much more interested in buying the Dodgers and is likely trying to create some goodwill buy throwing $20 million the Mets’ way.
Go read Megdal’s take on it as well as his detailing of the sheer amount of debt the Mets currently have. And ask yourself whether these stories about the Mets selling minority shares should be spun as an optimistic thing or, rather, a somewhat desperate thing.
Baltimore Orioles CEO John Angelos and his brother Lou have agreed to end their fight over a lawsuit in which Lou accused John of seizing control of the team in defiance of their father Peter’s wishes.
Lou Angelos sued John last year, claiming John took control of the Orioles at his expense. Georgia Angelos, their mother, also was named as a defendant.
In a Friday court filing in the case, John, Lou, Georgia and Peter Angelos called on “all claims, including all counterclaims and defenses, asserted therein be dismissed with prejudice in their entirety.”
“The Parties also withdraw and terminate all pending motions submitted in these actions,” the filing said.
Peter Angelos became the Orioles’ owner in 1993, but his public role has diminished in recent years and he turned 93 last year. According to the suit, he had surgery after his aortic valve failed in 2017.
Lou Angelos accused John of trying to take control of Peter Angelos’ assets and manipulating Georgia Angelos. The lawsuit was one of a handful of off-field issues looming over the Orioles this offseason. The team also has a lease at Camden Yards that expires at the end of the year.