Monday, January 31, 2011

Plenty Of Potential Buyers For Mets: Are Wilpon's Interested?

Many reports have been bandied about regarding the Wilpon's financial demise, their lack of honesty in this ordeal, and most recently, potential partners.

Some of the alleged potential partners willing to ante up approximately $215M, include: Martin Luther King III, son of the late Civil Rights leader Dr. Martin Luther King, Jr; Mike Repole, a Queens native who owns the race horse Uncle Mo, expected to win the Kentucky Derby and who sold Vitamin Water to Coca-Cola for a small fortune; Long Island's Martin Silver, owner of Georgi Vodka; Ed Kranepool and Donn Clendenon's son, and TV executive Larry Meil.

No matter whom the lucky candidate to purchase 20%-25% or the Mets is, I can't see the Wilpon's allowing someone into their "family business" whom they see as a threat. The last thing the Wilpon's want is another Walter O'Malley acquisition, where a small stake owner is able to continually buy up stocks, thus over-taking the "family business."

The Wilpon's, who are scheduled to meet with "Commissioner" Selig on Tuesday, are in dire straits. The big question is are they honest enough to CLEARLY see what is happening to them? They are having problems, but to start (or continue) to financially hemorrhage at the cost of their fortune, or more accurately, at the cost of New York's National League team, is selfish. The die-hard fans of the Mets deserve better. That does not necessarily mean that another owner will be better, no, but some fresh blood in the system might be just what the doctor ordered.

Is it sad that the Wilpon's were possibly swindled out of what appears to be a ton of money? I guess so. Is it unfortunate that they will be the one's having to pay off Bernie Maddof's debt? Yes, but that is the law. But, the shame in all this is not the money won or lost by this family, no, the shame is how they lied to everyone who asked the question about how hard hit they were by this scheme. Because a question is asked, it does not require you to answer. That being said, if you do decide to answer, lying is never the correct option. It's amazing, but peoples lies, or mis-truth's, always catch up to them. Tag Fred and Jeff, you're it.

Source: NY Daily News , Crain's NY Business

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