Feb 23, 2012, 3:40 PM EDT
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.
- Sandy Alderson is not going to “roll over” for Scott Boras and shut down Matt Harvey 43
- Dodgers are already fed up with 6.56 ERA-pitching, excuse-making Mat Latos 43
- And That Happened: Thursday’s scores and highlights 57
- Bryce Harper walks in all four of his plate appearances, scores four runs 24
- ESPN pulls Curt Schilling off broadcasts for rest of regular season and Wild Card game 146
- David Ortiz is more likely to be boned in Hall of Fame voting for being a DH than for PED stuff 141
- And That Happened: Wednesday’s scores and highlights 74
- The Marlins are going to change everything except their biggest problem this offseason 53
- Sarah Palin sticks up for Curt Schilling, tells ESPN to “stick to sports” (266)
- ESPN pulls Curt Schilling off broadcasts for rest of regular season and Wild Card game (146)
- David Ortiz is more likely to be boned in Hall of Fame voting for being a DH than for PED stuff (143)
- Matt Williams puts up another strong performance in his quest to get himself fired (107)
- David Ortiz tweets his happiness about the Deflategate decision (100)