May 12, 2014, 4:14 PM EDT
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.
May 23, 2015, 8:57 AM EDT
A quick recap of a busy Friday around MLB, including the rolling Royals.
May 22, 2015, 11:59 PM EDT
Mike Trout is pretty good at this baseball thing.
May 22, 2015, 11:40 PM EDT
Bad news for the reeling Marlins: starters Mat Latos and Henderson Alvarez both will take at least a couple of weeks off due to injuries.
May 22, 2015, 11:05 PM EDT
Ichiro Suzuki may be close to the end of a brilliant career, but he’s not done moving up baseball’s all-time leaderboards.
May 22, 2015, 10:25 PM EDT
Nelson Cruz kept pace with Bryce Harper, taking back the MLB lead in home runs shortly after losing it.
May 22, 2015, 9:35 PM EDT
Stephen Vogt has been baseball’s best-hitting catcher and GM Billy Beane plans to hold onto him.
May 22, 2015, 8:40 PM EDT
Athletes aren’t born with an ability to speak with the media. We got a look into a media coaching session between Athletics closer Sean Doolittle and girlfriend Eireann Dolan.
May 22, 2015, 7:51 PM EDT
The Dodgers added some pitching depth on Friday, acquiring pitcher Eric Surkamp from the White Sox.
May 22, 2015, 7:45 PM EDT
The White Sox are managing Carlos Rodon’s workload so they pushed the lefty’s start back from Monday.
May 22, 2015, 6:55 PM EDT
Coco Crisp will go back on the disabled list, but has chosen against having career-ending surgery.
May 22, 2015, 6:05 PM EDT
The Mets appear to be heading towards using a six-man rotation after Dillon Gee returns on Saturday.
May 22, 2015, 4:47 PM EDT
The Yankees firmly believe that the only people allowed to disparage Alex Rodriguez are the Yankees.
May 22, 2015, 3:45 PM EDT
Castillo is starting tonight in right field.
May 22, 2015, 2:50 PM EDT
Janssen was signed for $5 million to replace Tyler Clippard as the Nationals’ primary setup man.
May 22, 2015, 2:30 PM EDT
When I see you smile, Barry, I can face the world. You know I can do anything. When I see you smile, I see a ray of light.
May 22, 2015, 2:21 PM EDT
21-year-old right-hander Norge Ruiz.
May 22, 2015, 1:30 PM EDT
But Major League Baseball’s silliness about these kinds of infractions, however, will continue on unabated.
Quote of the Day: Freddie Freeman inadvertently illustrates the silliness of the foreign substance rules
May 22, 2015, 11:03 AM EDT
Paraphrased: “Smith should be way less obvious about the fact that he’s trying to keep us safe!”
May 22, 2015, 10:47 AM EDT
Travis has been a huge bright spot for Toronto this season.
May 22, 2015, 10:30 AM EDT
At least that’s what Molly Knight reports from Japan, and I’m inclined to agree.
- Settling the Score: Friday’s results 0
- Video: Mike Trout makes a ridiculous slide to beat the tag at third base 5
- Cuba’s best pitching prospect is on his way to America 21
- Will Smith suspended for eight games for the foreign substance on his arm 61
- Will Smith’s ejection once again shows baseball’s silly approach to foreign substance rules 48
- And That Happened: Thursday’s scores and highlights 95
- Who really owns a home run ball? 65
- The story behind the Nationals squirting chocolate syrup on each other after big wins 43
- And That Happened: Wednesday’s scores and highlights (131)
- Bryce Harper on Marvin Hudson ejection: “I don’t think 40,000 people came to watch him ump” (130)
- Bryce Harper ejected for second time in a week (122)
- GM Dan Jennings to be named the Marlins new manager. And it’s a terrible idea. (111)
- And That Happened: Tuesday’s scores and highlights (101)