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Report: Mets willing to pay three percent interest to minority investors

Nov 5, 2011, 2:50 PM EST

Fred Wilpon, Jeff Wilpon

Looking to sweeten interest among potential minority investors, the New York Post reports that the Mets are willing to cover three percent interest per year over the course of a six-year investment.

For those unfamiliar, the Mets announced plans in September to sell off $20-30 million stakes in the team after a proposed $200 million deal with hedge fund manager David Einhorn fell through.

Mets chief operating officer Jeff Wilpon told Adam Rubin of ESPN New York on Monday that the process of selling minority blocks was “going very well.” However, since there is no path to ownership, this latest development is an indication that potential investors need more incentive than owning a tiny piece of the team for vanity purposes.

  1. cur68 - Nov 5, 2011 at 2:55 PM

    DJ, someone has a real talent for the right picture for the subject matter. Lookit’ ‘im up there: you can see him prescribing the exact amount of snake oil needed for 3% benefit and how that’s all a person really needs for ultimate happiness so gimmie your $20-$30 million…

    Do you get to select your own shot or is there some behind the scenes genius?

    • D.J. Short - Nov 5, 2011 at 3:07 PM

      We pick our own photos. I have several favorites, but none tops Sad Cashman:

      http://hardballtalk.nbcsports.com/2010/12/13/brian-cashman-is-still-waiting-just-like-the-rest-of-us/brian-cashman-4/

      • cur68 - Nov 5, 2011 at 4:28 PM

        Damn. I think a tear came to my eye looking at Sad Cashman.

  2. cowboysoldiertx - Nov 5, 2011 at 5:10 PM

    I bet they settled the law suit (with the woman who got splattered by the fat drunk) by giving her a piece of the team. I say so because it looks like they are begging ppl to buy in anyway.

  3. mojosmagic - Nov 6, 2011 at 5:27 PM

    When is baseball going to force these broke Madoff crooks to sell the team? When you consider the Dodgers situation there is a double standard going on and Met fans are the ones getting screwed.

    • Cris E - Nov 7, 2011 at 11:18 AM

      I imagine they can’t really be sold until the bankrupcy thing gets cleared up a little. Bud can spend some time cleaning things up in LA and then turn to the Mets once the dust starts to settle. He’s probably going to let them fart around with little minority shares deals and whatnot, stuff that doesn’t affect anything substantially, and then step in when it becomes clear that the resolution for the Madoff’s can’t involve affording the team.

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