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 | saul katz
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…)
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 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’ 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 […]
Jeff Wilpon: Mets aren’t for sale
Despite some vocal interest from the likes of Donald Trump in buying a majority share of the New York Mets, Jeff Wilpon says the team isn’t for sale — and he expects his family to be found innocent of charges that they unfairly profited from Bernie Madoff’s Ponzi scheme. Wilpon, the chief operating officer of […]
Potential buyers emerge for Mets — but are they serious?
Donald Trump has reached out to Fred Wilpon about buying into the New York Mets — but he would so only if he could buy majority control. He’s the latest suitor for the team, which has attracted a lot of interest from the Manhattan monied set. According to Trump, he called Wilpon after the team’s […]
Yawn. NYT writer predictably blasts Mets for naming-rights deal
Let’s face it: Clyde Haberman of the New York Times has always hated the idea of the New York Mets selling naming rights to their new ballpark. He’s now using the recent financial issues facing the team to once again bash Citi Field and the Wilpons. Flash back to 2006, when the Mets first announced […]