May 12, 2014, 4:14 PM EST
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.
Jan 27, 2015, 9:54 AM EST
Great Moments in Spring Training Cliches.
Jan 27, 2015, 8:10 AM EST
No, it’s not “because the balls don’t have air inside them in baseball.” Though that is a good point.
Jan 26, 2015, 11:45 PM EST
McGee is expected to begin the season on the disabled list, but he’s hoping to return by late April or early May.
Jan 26, 2015, 11:05 PM EST
Ottavino has quietly been very effective since joining the Rockies in 2012, posting a 3.60 ERA over 179 relief appearances while averaging 9.3 K/9 and 3.3 BB/9.
Jan 26, 2015, 10:01 PM EST
After negotiations with Ryan Vogelsong broke down last week, the Astros are now considering alternatives.
Jan 26, 2015, 9:07 PM EST
Gutierrez has played a grand total of 173 games dating back to 2011 and sat out last season due to a gastrointestinal issue.
Jan 26, 2015, 8:16 PM EST
Avila is making a change in hopes of avoiding future concussions.
Jan 26, 2015, 7:09 PM EST
The announcement comes after the Blue Jays reportedly ended their pursuit of Orioles executive VP Dan Duquette.
Jan 26, 2015, 6:30 PM EST
The 29-year-old hit just .245/.304/.347 with three home runs and nine RBI across 81 games with the Braves last season and was designated for assignment in November.
I don’t know if Dustin Pedroia is in the Best Shape of His life, but he IS posing with his shirt off
Jan 26, 2015, 5:04 PM EST
Before cell phone cameras we just sat around and posed in the mirror. Now we can share that with everyone.
Jan 26, 2015, 4:16 PM EST
Norris asked for $10.25 million and the Orioles countered at $7.5 million.
Jan 26, 2015, 3:49 PM EST
Buck joins Christian Bethancourt and A.J. Pierzynski on the Braves’ catching depth chart.
Jan 26, 2015, 3:35 PM EST
Now, if they’ll bring back the beer mug Bernie slides into, everything will be A-OK.
Jan 26, 2015, 2:42 PM EST
I’m sure you’ve been worried about whether he would.
Jan 26, 2015, 2:10 PM EST
Parmelee was dropped by the Twins last month.
Jan 26, 2015, 1:18 PM EST
Mesoraco is arbitration eligible for the first time at age 26 and filed for $3.6 million, while the Reds countered at $2.45 million.
Jan 26, 2015, 1:00 PM EST
Wade Boggs is . . . the World’s Most Interesting Man
Jan 26, 2015, 12:28 PM EST
If it was a human it would’ve almost made it to the first grade. But now it is dead, aged just short of six years.
Jan 26, 2015, 11:29 AM EST
If you made a trade with St. Louis in the 90s and 2000s, you likely got the bad end of that trade. Because of this guy.
Jan 26, 2015, 10:57 AM EST
Just because you’re paranoid doesn’t mean they’re not after you.
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