Major League Baseball owners officially approved the $2.42-billion purchase of the New York Mets by Steve Cohen, clearing the way for a final closing of the deal in the next 10 days. (more…)
Tag Archives | fred wilpon
New Mets suitor emerges: Harris Blitzer Sports & Entertainment
After word got out that Alex Rodriguez and Jennifer Lopez were discussing with potential investors a purchase of the New York Mets, another suitor for the team and its assets emerges: Harris Blitzer Sports & Entertainment. (more…)
Goodbye Steve Cohen, Hello… Alex Rodriguez?
The drama over future ownership of the New York Mets continues, with billionaire hedge fund manager Steve Cohen withdrawing his ownership bid–and Alex Rodriguez reportedly considering a purchase of the team from the Wilpon family. (more…)
Mets in Process of Being Sold to Steve Cohen: Report
The Wilpon family, via Sterling Partners, is in negotiations to sell an 80 percent share of the New York Mets to hedge-fund investor Steve Cohen, who already owns a minority share in the National League franchise, reports Bloomberg News. (more…)
Willets Point Redevelopment Moving Forward
After years of uncertainty, it appears that a plan to redevelop the Willets Points neighborhood near Citi Field will move forward under new terms. (more…)
Mets Could Help Bring Islanders to Queens
The NHL’s New York Islanders are considering options for a new arena, and the New York Mets might help bring the team to Queens. (more…)
Katz looking to unload Mets ownership?
Saul Katz, who controls the New York Mets ownership with the Wilpon family, may be looking to sell his share of the team, according to a published report. The issue is actually pretty simple, according to the report: Katz is tired of spending millions to prop up the team. From The New York Times: The […]
Mets, MLB unveil All-Star Game logo
The New York Mets and Major League Baseball unveiled the official logo of the 84th All-Star Game, slated to be played at Citi Field on Tuesday, July 16, 2013. The logo is reflective of the primary mark that has represented the Mets throughout their history. Shaped within a baseball with orange stitching, the logo features a […]
Mets settle Madoff clawback case
New York Mets ownership will enter the 2012 season without some huge financial uncertainty, settling for $162 million a lawsuit alleging they had willfully ignored signs of fraud committed by Bernie Madoff. The lawsuit, brought by trustee Irving Picard, called for Fred Wilpon and Saul Katz — owners of the Mets — to pay $300 […]
Mets/Einhorn deal collapses
David Einhorn’s bid to buy a minority share of the New York Mets has fallen through, leaving the team to beat the bushes for other limited investors. The official word is that the Mets ownership, which could owe upwards of a billion dollars as a result of investments with swindler Bernie Madoff, can cover this […]
Einhorn negotiating for chunk of Mets
David Einhorn, a high-profile Wall Street investor who seeks to find value in underperforming corporations, is negotiating to buy a non-controlling stake in the New York Mets. Einhorn is a big baseball fan, growing up in Milwaukee and playing ball as a kid. He’s made his mark in the financial world as a hedge-fund manager, […]
Mets’ financial woes worse than thought
The New York Mets required a cash infusion of $25 million from MLB lines of credit last November after the team faced a cash-flow crisis and had tapped out its other sources of capital, leaving many to wonder how long Fred Wilpon and Saul Katz can keep control of the ailing franchise. That the Mets […]
Mets managed Madoff investments for other investors
The owners of the New York Mets managed investments for others in Bernie Madoff‘s Ponzi scheme and threw some interesting conditions on participation: the investors, which included Larry King, Sandy Koufax and Tim Teufel, could have no interaction with Madoff and ask how he generated such impressive returns. The New York Times went through the […]