Comments on: What will your $20 million get you if you buy into the Mets?

By: derekjetersmansion

derekjetersmansion — Wed, 21 Dec 2011 19:57:39 +0000

Because the Wilpons are nuts.

By: notdumb

notdumb — Wed, 21 Dec 2011 19:54:23 +0000

actually it does need quotation marks. every sports team has a fan club but every team doesn’t have a bunch of inbred hick fans stupid enough to pay 250 bucks to join

By: pellypell

pellypell — Wed, 21 Dec 2011 17:53:07 +0000

This should be considered a tax deductible donation considering the money is going to a “non profit” organization.

By: birdman6824

birdman6824 — Wed, 21 Dec 2011 16:10:10 +0000

Or you could buy a share of the Indianapolis Indians (AAA) for $25,000. My dad has one share, bought in 1957? for $10, purchased 4/5 of a new share in 1988? due to a stock recall/new issue for @$95, now has one of @ 880 shares, current offer from the club is $25,000 to buy stock back – dividend for 2011 was $350

By: Kevin S.

Kevin S. — Wed, 21 Dec 2011 15:41:24 +0000

If I understand the terms of the contract involved on these stakes, they’re guaranteed three percent interest. That would be paid out to them before the Wilpons got their share, I would think.

By: umrguy42

umrguy42 — Wed, 21 Dec 2011 15:32:24 +0000

Actually, I think mcsnide is referring to the most recent sale, which really doesn’t give people power, as far as I could tell – it was about raising money for stadium renovations (mind you, not a bad way to do it), but it doesn’t appreciate in value, and I don’t think it gives you a real vote on the team. http://profootballtalk.nbcsports.com/2011/12/06/packers-non-stock-stock-is-for-sale-for-only-the-fifth-time/

By: yankeesfanlen

yankeesfanlen — Wed, 21 Dec 2011 15:05:06 +0000

We’ve had “mystery teams”, now we have “mystery investors”. I’ll believe it when I hear reports of the Wilpons sauntering down the street with BofA ATM receipts dangling from their pockets.

By: phukyouk

phukyouk — Wed, 21 Dec 2011 14:34:27 +0000

“What will your $20 million get you if you buy into the Mets?”

Part of Jason Bay’s left arm i think…

By: sdelmonte

sdelmonte — Wed, 21 Dec 2011 14:29:24 +0000

The question is, when the Wilpons sell, how much more will the $20 million investor get? Is there a way to guarantee that they will make a profit even if in the end the debt-riddled Wilpons don’t?

By: rooney24

rooney24 — Wed, 21 Dec 2011 14:22:02 +0000

Where are all the people that were yelling how dumb the Packer stock sale was?

While I can understand that someone might pay the $250 to call yourself a Packer owner, $20 million is something different entirely. Is this just a test to see if they can find rich people that aren’t very bright? People that worked hard to earn their millions and/or made some discovery/invention should be smart enough to avoid this. But, someone that just fell into the money (inheritance?) might not be frugal/smart enough to avoid this?

Just think, if former NBA player Latrell Sprewell hadn’t turned down his final offer of 2 years for $28 million, because it was an insult and he had to “feed his family”, maybe he could blow that money on a share of the Mets.

By: kopy

kopy — Wed, 21 Dec 2011 14:01:50 +0000

No need for quotation marks in that sentence.

By: stex52

stex52 — Wed, 21 Dec 2011 14:00:10 +0000

Seems like season tickets for about $40,000 (guessing on the number), a couple of Southwest Airlines flights, and you probably have most of the advantages. On that basis you could watch the Mets for 500 years before you invested 20 MM$ (that must be an existentialist’s definition of hell).

BTW Craig, cut Houston a little slack. The summer weather is awful, but if you like great restaurants and full employment and don’t mind lousy sports teams (for the moment) it’s a pretty good place to be.

By: jimatkins

jimatkins — Wed, 21 Dec 2011 13:59:20 +0000

$20 million is an awful lot of vanity. Do the Wilpons really think anybody will fall for this? I mean, this seems like “Give us a large pile of cash and watch the really pretty bonfire we’ll have!”. The craptasticness of the whole idea is mindboggling.

By: indyralph

indyralph — Wed, 21 Dec 2011 13:55:39 +0000

“The draw of such an investment is that you’ll either (a) get some good cash flow out of it; or (b) your stake will appreciate nicely”

I know times are tough, so there may not be many folks around with extra money to invest. I’m fortunate to have a small fraction of $20M, and I can promise you that there is no investment available to me that has both (a) and (b) with the kind of certainty that professional sports franchises have shown over the previous two decades. It won’t be immediate cash flow or appreciation, but wise investors with lots of cash look specifically for opportunities where short term problems allow buying opportunities that wouldn’t otherwise exist (see Buffet, Warren). The real problem is, and Pancho suggests, handing over $20M to a dope who fell for a Ponzi scheme.

By: franklapidus316

franklapidus316 — Wed, 21 Dec 2011 13:52:09 +0000

The $20 million pays for itself, you get First Call on Lenny Dykstra’s investment advice.

By: PanchoHerreraFanClub

PanchoHerreraFanClub — Wed, 21 Dec 2011 13:47:15 +0000

Craig, you forgot to mention your biggest perk as a minority owner of the Mets. You get to watch most of your $20 million slowly circle the drain during the bankruptcy process.

By: mcsnide

mcsnide — Wed, 21 Dec 2011 13:45:37 +0000

Or you could just buy a Packers “share” for $250 and also be a professional sports team “owner.”

By: brockw82

brockw82 — Wed, 21 Dec 2011 13:28:11 +0000

Um, if you are part owner, why wouldn’t you get anything you wanted for free or travel with the team whenever you wanted?

By: purnellmeagrejr

purnellmeagrejr — Wed, 21 Dec 2011 13:23:39 +0000

I believe it was Paperlions that described these as “Vanity Shares;” I certainly can’t think of a better way to describe them. Why would anyone want to bail out the WIlpon’s? I think buying a good mirror and maybe even hiring a few toadies would be more cost effective.