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The Wilpons believe that they can attract investors

Sep 10, 2011, 10:50 AM EDT

File image of New York Mets chairman and CEO Fred Wilpon talking to reporters at a news conference in New York Reuters

The Mets had a conference call with their lenders on Thursday and during the call they said that they were optimistic that they can sell multiple $20 million-$30 million stakes in the team between now and the end of the year. Stakes they have to sell, you’ll recall, because their deal to sell one big $200 million chunk to David Einhorn fell through.

The New York Post reports, in contrast, that “both a potential bidder and a source close to the situation said they believed the Mets would have a hard time finding buyers for the smaller investment stake.”

I’m not sure what the upside is for someone purchasing a small stake like that. No chance for exerting any real control, no chance for majority ownership and, given the current state of Mets finances, a much greater chance that they’d be asked to make future capital calls as opposed to cashing future dividend checks.

  1. jimbo1949 - Sep 10, 2011 at 11:05 AM

    Must be taking lessons from Madoff, creating a Metzi scheme.

    • jerseyshoregiant - Sep 10, 2011 at 11:44 AM

      The Wilpon’s aren’t creating it now, they’ve been running this Metzi scheme almost as long as Madoff’s ponzi!

  2. Old Gator - Sep 10, 2011 at 11:47 AM

    You can also attract flies by declining to shower.

  3. yankeesfanlen - Sep 10, 2011 at 12:02 PM

    The problem isn’t “attracting” investors, it’s “getting” investors

  4. bigleagues - Sep 10, 2011 at 12:21 PM

    I think the Wilpon’s are right . . . .

    I’m for the 25 bucks. Who’s with me?

    • bigleagues - Sep 10, 2011 at 12:21 PM

      I’m IN for 25 bucks.

      Edit function, argh.

  5. raysfan1 - Sep 10, 2011 at 12:30 PM

    -“There’s a sucker born every minute.”–George Hull (not PT Barnum)
    -“Nobody ever went broke underestimating the intelligence of the American public.”–HL Mencken
    AKA…Wilpon’s two favorite quotes?

  6. joebourgeois - Sep 10, 2011 at 12:32 PM

    Fred Wilpon went to Herefordshire, United Kingdom with his family for a short vacation but unfortunately, he was mugged and robbed at the park of the hotel where he stayed. All cash, credit card and cell phone were stolen off him but luckily for him he and his family still have their lives and passport.

    He has been to the embassy and the Police here but that’s not helping issues at all and their flight leaves in less than 12hrs from now but they are having problems settling the hotel bills and the hotel manager won’t let them leave until they settle the bills about $1450. Can you help them out?

  7. mojosmagic - Sep 10, 2011 at 12:38 PM

    For the good of NY Met fans sell the team to someone who can afford it. Stop running a scam!! Nobody in their right mind is going to buy stakes at 20 million a pop. For what? Pay 20 million for having no say in the team and become liable for the Wilpon’s massive debt. Who is advising them, Bernie?

  8. Utley's Hair - Sep 10, 2011 at 4:44 PM

    Craig the Master Baiter strikes again—this time in a thinly veiled attempt to get chrisny3 all huffy.

    • Old Gator - Sep 12, 2011 at 3:28 AM

      Are we already on the third iteration of him? Wow. The technology is moving so fast.

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