Forbes Determines Net Value Of Mets Is (Negative $225MM)

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• francis February 2, 2011 at 10:17 am

  They should start fitting the Wilpons for their orange jumpsuits.
  • The Coop February 2, 2011 at 10:20 am

    The visual of those…with the leg chains a la The Fugitive. OK sorry, I’m laughing.

    Seriously though – I’ve heard of ignorance is bliss – but how could they have been so blindly trusting? I thought these guys were the smartest guys in the room (then again, so were the brain trust at Enron…)
    • srt February 2, 2011 at 10:32 am

      If they were ‘blindly trusting’ they were in good company – given the millions of others Madoff was duping.
      • The Coop February 2, 2011 at 10:42 am

        That is VERY true SRT.
        • Pete February 3, 2011 at 9:29 am

          They may be liars, and they may be frauds, but they weren’t ignorant!
    • Donal February 2, 2011 at 11:19 am

      Look at some of the other people caught in the scam, like the “Sherrif of Wall Street” himself, Elliot Spitzer.

      This wasn’t Vinny from Bensonhurst coming up with a quick payday. This was an accomplished and respected broker who dummied up a proposal and sold it to some high end people and got around any real over sight because his son was the complaince officer. They didn’t have to blindly trust him. He had a pretty good lie going.
    • Joe Spector February 2, 2011 at 8:48 pm

      Apparently according to high sources Coop, the magic 8 ball was often seen in business meetings during the Madoff days.
  • METS62FAN February 3, 2011 at 9:46 am

    SAVAGELY LUDICROUS STATEMENT ON YOUR PART, IF MADOFF’S SON & WIFE WEREN’T JAILED HOW CAN U EXPECT WILPONS TO BE?
    • t agee February 3, 2011 at 9:56 am

      Savagely ludicrous. I like it on it’s own. Applied correctly as in this case it’s like a 6-4-3 w/1 out bottom nine.
• francis February 2, 2011 at 10:31 am

  If two people show up at Citi with orange jumpsuits, one with Fred stenciled on the back, and the other with Jeff, do you think they would be kicked out ?
  • Donal February 3, 2011 at 10:28 am

    Now now, for all the mean things we can say about the Wilpons (are there are a lot), there is no evidence that they are the raging self indulgent d-bags that Dan Schneider is.
• Lisa P. February 2, 2011 at 11:02 am

  You are all so funny. They say orange is making a fashion comeback!
• Harry C February 2, 2011 at 11:03 am

  Writers here incredible.. They write of the pervert Phillips as an absolute expert but the Wall Street Journal they say makes unsubstsantiated allegations. Truly Wilpn paid advertising trying to pass as journalism. You get an F-.
  • Mr North Jersey February 2, 2011 at 11:28 am

    You are aware that both articles were done by different authors?

    You are aware that Phillips was stating his opinion based on his experiences?

    You are aware that the WSJ article reported some items based on not cause they were there but on other sources that said they were there?

    I agree though while “unsubstsantiated allegations” may be technically accurate maybe just saying “The article is filled with more reports from unknown sources” but it’s not my post.
    • Harry C February 3, 2011 at 7:20 am

      And obviously you aren’t aware that Phillips words were taken as gospel. You want to love the Wilpons be my guest. Loving the Wilpons doesn’t make you a wonderful met fan. It makes you not very smart. The Mets are better than this family of crooks. All Met fans should want them out ASAP.
    • Harry C February 3, 2011 at 7:22 am

      And obviously you can’t read as I said writers, writers means more thanone Jersey. I understand uyou have limited abilities to comprehend. My fault for not explaining better. Most here know that adding an s makes words like writer into a plural, a plural Jersey means mnore than one.
• D.C. February 2, 2011 at 12:56 pm

  Singing the jailbird blues.
• Squidoo February 2, 2011 at 1:53 pm

  I think that the Mets should have a poromotional day called Funny Money day. They give everyone who attends the game 5 dollars woth of Mets bucks (remember those?) to use at the Mets store or mets shop online. The money of course will have uncle bernie instead of Mr. Met or george washington.
• francis February 2, 2011 at 8:54 pm

  having more debt than market value is not that uncommon. i’m pretty sure general electric falls into this category.
  • any February 2, 2011 at 9:28 pm

    that’s because it is about cash flow and debt service. Just like your mortgage. You don’t have to pay 300K right now, you have to pay 2K/month (or some such).

    it does seem like they aren’t counting the value of citi field either. Like counting your mortgage and saying your net worth is -300,000, ignoring you have the house to sell too.
• theonlymaskman February 2, 2011 at 11:54 pm

  Perhaps I should buy 25% of the Mets. With a book value of -$225M, 25% comes to -$45M. I’ll take 25% of the Mets, if Fred writes me a check for $45M. The point I am making is this: how are the Wilpons to get a buyer who will pay cash for something that has a negative book value? Only Madoff would make a deal like that because he had unlimited access to imaginary money. If you had a brain, you wouldn’t buy a minority partnership with guys who may very well be entering bankruptcy. The only possible deal is for 100% of the Mets and then the Wilpons can sink on their own without bringing down the entire franchise. I seriously doubt anyone with significant money and smart advisers will put good money to risk by buying a minority share under these circumstances.
  • baby al February 3, 2011 at 12:17 am

    the wilpons will be forced to sell when picard finishes with them.they are looking for a sucker to bail them out!it won’t happen …the wilpons are done.i am sick and tired of looking at freddyes craggy, crybaby face.stop playing the victim freddye…u are really one of the predators in all of this!be grateful that u are not bunking with madoff for the rest of your life.be a man and sell the team…your dopey son don’t really want it anyway.
• Lifelongmetsfan February 3, 2011 at 1:32 am

  Once again I am right. The Wilpon’s had made the decision that the Mets will not compete for the next 3-5 years as the team undergoes fiscal and personnel restructuring. At least now the reason why this decision was made is becoming more clear every day.
  Someone people on this board owe me an apology. The line forms……..
  here —–>
  • Mr North Jersey February 3, 2011 at 2:41 am

    Come back Feb 2nd 2014. i sent my apology back to the future in the DeLorean you used to see the Mets future.
  • t agee February 3, 2011 at 7:53 am

    Made the decision not to compete for 3-5 years? The era of throwing suitcases full of cash at whoever happened to be hanging around the free agent market this year is over, because it didn’t work. Three times now we have tried the old fat cat routine and three times the old fat cat couldn’t get off the floor. Now the idea is to do more with less, but many more options leading to better choices rather than be stuck with ill fitting free agents because of having no other options.

    You may prefer Monkey Ball but I am sick of it. Sick of having to import someone else’s player for every position on the field because we can’t properly draft and develop our own competent two way players who have been groomed ahead of time to play a certain position and come up here ready to play Major League Baseball in all facets of the game.

    There are reasons we have not developed our own All Star LFer since Cleon Jones, an All Star RFer since Darryl Strawberry, an All star second basemen since Edgardo Alfonzo and an All star CFer since Mookie/Lenny in 1988.

    Wright and Reyes are the only players at their positions that we have developed and then gone on to garner some MVP votes. Catchers Grote, Stearns, Carter and Piazza were all acquired by trade. Dyer, Hundley and Thole I guess are our claim to fame in 50 years of drafting and developing catchers.

    You see Lifelong, it is not necessary to import all your players. You can instead of getting a players most expensive years, get their BEST one’s instead then not only will your payroll be lower overall but your team actually better, way better. Think the difference between Roberto Alomar with Toronto/Balt/Cleveland and us or the difference between Mo Vaughn with Boston and Mo Vaughn here.

    Now If your upset that instead of continuing to lavish money on even more entitled fat cats looking for yet one more “last payday” instead of finally after 25 years of ignoring the farm system and 25 years of watching our high draft choices bust one right after the other we are going to attempt to developing our own Lincecum’s, Heyward’s, Pedroia’s, and Utley’s and try to get their best years instead of their most expensive one’s, that’s just too bad. We could have done both at the same time but for 20 years now it was all about this year and never about the next 5 years and your way wasn’t working very well was it?
• Mr North Jersey February 3, 2011 at 3:20 am

  (OFF TOPIC)

  You have to wonder how many can read Sherman and see this? “He (Alderson) seemed uncomfortable that the Mets’ current payroll is its largest ever. But so is the $165 million-plus of the Phillies. It is one thing to say you will not play in the Yankees’ financial forum. But Alderson is, at the least, hinting about being “significantly” lower than the Phillies. That may be acceptable in San Diego. Not here, not in a market this size. Not when the inferiority complex with the Phillies is growing to Yankees proportions.”

  So translation: In NY fans will not accept winning or losing to their rivals if Mets payroll is far below them but if the Mets payroll is at or above their rivals then fans will be more accepttable to winning or losing.

  The sad thing is many actually think like this.
  • Metsie February 3, 2011 at 10:42 am

    But look at it from the other side MNJ…

    If Alderson spends 200 Mil is his job any more secure if he still doesn’t beat the Phillies?

    The money doesn’t matter. If Sandy wants to limit the amount of money he spends thats his problem.

    He has to come up with a team that wins regardless of how much those wins cost!

    Doesn’t matter if he spends 400 Mil his job is tied to the team performance not team payroll!

    If Sandy wants to reduce the payroll to 100 Mil (About where the WS Giants were this year) then he is making his own bed and will have to live in it!

    His goal is to get to the playoffs. And it doesn’t matter how much he spends if he gets there! If he doesn’t get there he is gone!
    • Donal February 3, 2011 at 11:02 am

      Really? You think the total cost won’t be taken into account when evaluating his performance? How many people dismiss Cashman’s performance because he has the Yankee checkbook. Hell, he’s been castrated in the media by it.
• METS62FAN February 3, 2011 at 9:58 am

  Craig, I must, as an interested fan, totallly disagree with this sentiment from you;
  “I would rather hope that they achieve a settlement with the trustee of the Madoff lawsuit by June instead. If they have the money, they should pay whatever it takes to get this settlement done and over and out of this vicious 24-hour news cycle”
  Personally, I don’t want any settlements that may bury the facts so that this allegation hangs over us “ad infinatum”. Personally, I believe in the Nibishness of Fred & Saul & would welcome the world seeing them for what we’ve always suspected them as, well meaning lazyassed dupes!aka marks,victims,targets,baffoons!
• Lifelongmetsfan February 3, 2011 at 12:08 pm

  Sandy Alderson has not been hired so much by the Wilpon’s as he has by MLB to run the Mets. Alderson has the dream cirsumstance that every GM prays for. He has an open contract to rebuild a team from within with no timetable or expectation to contend. Alderson can build slowly, over years. He has the ultimate job security. No way the Wilpon’s can fire this guy. No way MLB will allow them. MLB runs the Mets now. We are quickly becoming the new “Montreal Expos” Frank Robinson stay close to your phone. MLB may be calling soon..
  • t agee February 3, 2011 at 12:41 pm

    This based on facts or your opinion? Please elaborate.
    • Lifelongmetsfan February 3, 2011 at 12:59 pm

      People continue to doubt me? After being right time after time after time. and still people confront my genius.
      There is no article written or source named that proves what i have written. I am using my incredible intelligence to pull together small seemingly insignificant comments and Freud-like slips of the tongue made by the principle players in this increasingly scary Met nightmare. It’s a gift what can I say.
      • Mr North Jersey February 3, 2011 at 1:24 pm

        You keep forgetting to add your disclaimer before you comment. Wait let me add it for you.

        “The following comments from Lifelongmetsfan are for entertainment purposes only. Nothing Lifelongmetsfan says should be taken seriously or as fact. Lifelongmetsfan is not responsible for people who take anything said by Lifelongmetsfan as an actual truth or opinion.”

        There see now you can post to your hearts content.
• Lifelongmetsfan February 3, 2011 at 9:56 pm

  …without the permission of Major League Baseball as Ralph would say, “is strictly inhibited.”