We have breaking news here on FloppingOut, sources tell me that Fred Wilpon and the Mets have agreed to sell a minority share of the METS organization. If you’re a Met fan, and have been for years you know this is FANTASTIC news.
Update: 3:30pm- Mets Owner Fred Wilpon, and COO Jeff Wilpon held a conference call today to discuss todays announcement that they’re exploring the possibility of bringing in a strategic partner. ( help out with money, because Bernie Madoff ran off with a few Mill)
The Wilpon’s both said they plan to continue being the major owners and are looking to sell about 20-25% (minority interest)
All of a sudden they want to be “Honest” even though dating back about 2 years today, we ALL knew that they got hit hard by the Madoff Ponzi-scheme, so honesty isn’t exactly the Wilpon’s best trait.
The Wilpon’s issued this press release about an hour ago on Mets.com:
As Sterling Equities announced in December, we are engaged in discussions to settle a lawsuit brought against us and other Sterling partners and members of our families by the Trustee in the Madoff bankruptcy.
We are not permitted to comment on these confidential negotiations while they are ongoing.However, to address the air of uncertainty created by this lawsuit, and to provide additional assurance that the New York Mets will continue to have the necessary resources to fully compete and win, we are looking at a number of potential options including the addition of one or more strategic partners.
To explore this, we have retained Steve Greenberg, a Managing Director at Allen & Company, as our adviser.
Regardless of the outcome of this exploration, Sterling will remain the principal ownership group of the Mets and continue to control and manage the team’s operations. The Mets have been a major part of our families for more than 30 years and that is not going to change.
As we have said before, we are totally committed to having the Mets again become a World Series winner. Our fans and all New Yorkers deserve nothing less.”
Just so were all on the same page here, the Mets AREN’T for sale, the Wilpon’s will still control the majority of the team, but hey! it’s a great start. Us Mets fans can officially change the favorite slogan of “Wilpon’s, sell the team” to “Wilpon’s give up your final 75 percent” Were getting there!
As you may or may not know, I’m a Met fan and for me, this is SWEETTTT news. I was never on the Wilpon bandwagon as they’ve done nothing but run this team into the ground since the Wilpon-Nelson Doubleday divorce. Here’s to hoping they can find a great match (PAGING MARK CUBAN) and we can get this Mets team back to where it belongs.