Forbes and The Death of the Mets
Mike Ozanian of Forbes Magazine, eulogized the Mets this weekend and wrote the following:
The Mets franchise as we have known it since Nelson Doubleday and Wilpon bought the team in 1986, is dead. There are two causes of this fatality: One, Wilpon forgot his primary duty as a team owner was to produce a quality product that, in baseball’s biggest market, was self-sustaining. He had that obligation. Instead, he used the team as an ATM to earn high returns from a dubious fund manager and his cable channel to pay himself a leveraged dividend. Second, MLB commissioner Bud Selig neglected his responsibility to baseball to act in the best interests of the game. Selig whiffed on the huge debts that Wilpon piled up on the team, stadium and cable channel. I do not believe this was because of Selig’s friendship with Wilpon. After all, Selig fell for a similar game with Tom Hicks and the Texas Rangers. But it is neglect nevertheless.
Ozanian goes on to speculate that Wilpon and Katz are as good as gone and it will happen sooner rather than later. I disagree with him.
He further adds that it would be good for baseball in general if commissioner Bud Selig resigned. He feels strongly that Selig turned a blind eye to this Mets disaster as he has before with other teams and owners.
He concludes that until the Wilpons are finally gone and a new commissioner is put in place that is dedicated to ensuring the integrity of every team in the league, the image of the Mets and the National Pastime will remain tarnished.
Those are some very harsh words from Forbes who seem to be interested in taking the lead on this Wilpon/Madoff situation ever since the story first broke.
While I don’t believe the Wilpons will get through this mess by simply selling a 25% stake in the team, I do believe they will ultimately find a way to pay for any settlement agreement, and still maintain a majority ownership of the Mets.
They may have to give up 49% of the Mets and also a part of SNY to keep that control, but at the end of the day, the Wilpons will still maintain majority ownership and all decision making power over the New York Mets.
About the Author: Joe DeCaro
I'm a lifelong Mets fan who loves writing and talking about the Amazins' 24/7. From the Miracle in 1969 to the magic of 1986, and even the near misses in '73 and '00, I've experienced it all - the highs and the lows. I started Mets Merized Online in 2005 to feed my addiction. Follow me on Twitter @metsmerized.
16 Comments + Add Comment
- Fromsalmontodoughnuts: on Bartolo Colon – An Intriguing Signing: This was a great signing it adds...
- John: on It Would Be A Mistake If Lagares Is The Odd Man Out: EY is a borderline aaaa player. Can't...
- Al: on Bartolo Colon – An Intriguing Signing: Is this place Comedy Central or a...
- Rob: on Bartolo Colon – An Intriguing Signing: Like their pitching depth but there offense...
- burnindaylight: on It Would Be A Mistake If Lagares Is The Odd Man Out: I'd hate to see Lagares not being...
2014 Opening Day
Write For Metsmerized Online
Mets Merized Online is reloading and looking for new writers to help cover the Hot Stove Season. We're also looking for passionate writers who would like to contribute new and original features.
Contact us now at GetMetsmerized@aol.com for more info and join the #1 Mets Fansite on the web!
Check Out These Great MLB Links!
Mets Autograph Signings
Mets Fan Apparel
Mets Autographed Baseballs
Baseball Card Supplies
For the best seats and lowest MLB ticket prices, go to PurchaseSeats.com. Get your Mets Tickets now and follow them on the road with Yankees Tickets, Phillies Tickets, Nationals Tickets and Braves Tickets!