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Saul Katz wants to sell his share of the Mets

May 12, 2014, 4:14 PM EDT

Fred Wilpon, Saul Katz

The New York Times reports that Saul Katz, who along with Fred Wilpon own around a 2/3 interest in the New York Mets, wants to sell his ownership stake.

The problem — if he sells his share, that likely deprives Fred Wilpon of his control of the team, because Wilpon doesn’t independently own 50%+ of the team. He runs it now in a partnership with Katz, who has always left baseball operations to Wilpon. If Katz were to structure the sale of his stake in such a way to prevent anyone else from having a share as large as Wilpn’s — say to separate buyers — he’d get way less than what the shares are actually worth given the lack of any team control offered to the buyers.

So, if Wilpon is to keep control of the team he’d have to buy out Katz himself, which is unlikely given the kinds of cashflow problems Wilpon has. Or I suppose he could try to get Katz to agree to take a fraction of what his large interest might go for in breaking it up among multiple buyers. For what it’s worth, Katz and Wilpon are brothers-in-law and business partners outside of the Mets, so I suppose anything is possible.

My guess: this is Katz making some noise and starting what may be a long process of getting out from under the Mets, not the harbinger of anything imminent given Wilpon’s desire to give the team to his son Jeff and given the logistical problems in place.

But, hey, if it allows Mets fans to at least begin to imagine what it’d be like for their team to be owned by people who actually have money to spend on this team I suppose it’s better than nothing.

  1. Caught Looking - May 12, 2014 at 4:23 PM

    I heard Jon Hamm has interest in acquiring Katz’ interest

  2. chill1184 - May 12, 2014 at 4:37 PM

    I should be happy but you damm well know that Lord Selig has a plan to keep Wilpon in control even if Katz is serious about selling.

    • thebadguyswon - May 12, 2014 at 4:45 PM

      But…..Selig might be gone after this season. If anything, this is proof that the ship just might be sinking. Maybe Fred and Jeff are next.

  3. sdelmonte - May 12, 2014 at 4:38 PM

    Whoever buys the team buys the debt load on the stadium, so the price for the Mets is higher just the team, the park and SNY.

  4. thebadguyswon - May 12, 2014 at 4:44 PM

    Thank GOD.

  5. drs76109 - May 12, 2014 at 5:18 PM

    Somebody call Donald Trump.

    • chill1184 - May 12, 2014 at 5:42 PM

      Trump wont be let into any league as long as owners and leagues offices still remember the USFL

    • bigharold - May 12, 2014 at 9:20 PM

      “Somebody call Donald Trump.”

      Talk about going from the firing pan to the fire.

      There was a time back in the 60s-70s when I thought it was OK to be a Mets fan AND a Yankees fan. Why not? No inter-league so unless they met in the WS I’d never have to chose. M. Donald Grant and trading Seaver cured me of my fondness for the Mets organization. Donald Trump, being the blow hard ignoramus that he is, would take the Mets to an entire new level of Hell.

      I doubt it would ever happen but if the buffoon Trump gets his hooks into the Mets fire up the popcorn cause this is going to be epically funny, .. in a sad, pathetic and embarrassing way.

  6. tcostant - May 12, 2014 at 5:25 PM

    Fred Wilpon should just buy him out. Oh wait, never mind…

  7. DonRSD - May 12, 2014 at 5:40 PM

    #FireWilpons

  8. gbart22 - May 12, 2014 at 6:05 PM

    Dreaming dreaming dreaming. Give me some super rich billionaires like out in la

  9. Jon - May 12, 2014 at 6:15 PM

    Give the team back to Doubleday!

  10. arrooo - May 12, 2014 at 11:11 PM

    Spano

  11. drs76109 - May 12, 2014 at 11:29 PM

    Re:Trump, i was being sarcastic, of course, given his seeming penchant to leverage publicity by suggesting that he would buy a team.

  12. trbmb - May 13, 2014 at 7:20 AM

    How about The Fortunate Son, the outstanding and brilliant businessman, Jimmy Dolan? Yes, it could get worse.

  13. mrznyc - May 13, 2014 at 8:01 AM

    There’s no one at the ball park – Sunny days – nobody – The Wilpons are horrible for the Mets, the city of New York and baseball in general – Fred wants to give the team to Jeff, the village idiot, jus sends shivers down my spine – Hopefully this is the first sign that there is serious financial trouble in the Mets operation.

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