1
2011
Losing Einhorn Is Not the End of the World
An article by 
Much like their bullpen, the Mets’ deal with minority investor David Einhorn collapsed, and with it the $200 million infusion the financially strapped franchise was banking on to help them maintain as the Wilpons fight for their team in the fallout of the Ponzi scandal.
Naturally, there’s a difference of opinion of why the deal unraveled, with Einhorn claiming the Wilpons kept changing terms of the original agreement.
Reportedly, Einhorn was concerned about the language in the contract that would have allowed him to eventually assume ownership of the Mets in three to five years if the Wilpons didn’t repay the $200 million. Einhorn wanted a clear path to ownership and bypass the approval of baseball’s other owners.
Einhorn taking shots at the Wilpons won’t help him should he pursue ownership of another baseball franchise. This is a tight fraternity, and as unhappy as many fans are with the Wilpons, they have allies in Commissioner Bud Selig and other owners.
Fans might clamor for new ownership, but it isn’t happening any time soon.
The Mets, meanwhile, insist they aren’t in dire financial distress despite the lingering Ponzi scandal. In a statement released by the team, the Mets said they have the resources to cover the remainder of the 2011 season and to continue business.
It must be remembered it was the Wilpons who walked away from this deal, a signal they don’t believe they are desperate.
However, the Mets did not say whether business would include re-signing Jose Reyes or how active they might be in the free-agent market.
Reportedly, the Mets are still seeking investors, but will explore the piecemeal route rather than try to hook somebody for another $200 million. This might prove to be a quicker way to raise funds.
This is not good news for the Mets, but not the devastating news made out to be on talk radio. For years, the Mets’ problem has not been an inability or refusal to spend, but to spend wisely. All we have to look at is the Omar Minaya era, and it wasn’t much better before him.
It ultimately lies with the Wilpons, and they seemingly put a management plan in place with the hiring of general manager Sandy Alderson. It takes time for these things to develop, but there have been encouraging signs this season, including how the team is playing and chasing .500.
After the last two years, who would have projected that progress?
We were told this would be a rebuilding, learning year, and that is what has happened. There’s been some miserable baseball, but there’s been some sound play, including the Mets’ current streak.
I know Mets’ fans don’t want to hear about patience, but that’s the way it must be. For too long the Mets have gone for the quick fix that invariably put them in this current hole.
But, I don’t believe this hole is an abyss.
About the Author: John Delcos
I am an active member of the BBWAA and have covered Major League Baseball in several capacities for over 20 years, including ten in New York working the Mets' and Yankees' beat. I covered the Baltimore Orioles for eight years and the Cleveland Indians before that. I currently serve as an editor and senior staff writer for Mets Merized Online. Follow me on Twitter @jdelcos.
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“… the Wilpons who walked away from this deal, a signal they don’t believe they are desperate.”
I think Einhorn and Picard are cut from the same cloth. I’m not a great Wilpon’s fan, but often the cure is worse than the disease. My gut tells me that the Picard claims will result only in pennies on the dollar. Met fans should be thankful for this.
I am a Wilpon fan, and I trust that he and the rest who run the club also are trying to make the winner. But so many times it does not work out. Over 30 teams, and they end up with only one winner.
U MAY BE OK TODAY; BUT WHAT ABOUT TOMORROW? OR DON’T U LOOK FORWARD THAT FAR? NO WONDER U R A WILPON FAN.
IMO, THEY HAVE CERTAINLY DONE MORE BAD THAN GOOD; EVEN BY BUILDING A TERRIFIC FAN FRIENDLY NEW STADIUM, THEY MANAGED TO SCREW IT UP WITH UNREACHABLE FENCES. TO ME, IT ISN’T SO MUCH THE OLD MEN, FRED & SAUL; BUT THE NITWIT COURT JESTER C-UH-OH, JEFF & HIS ASSOCIATES DEGREE FROM PALM BEACH COMMUNITY COLLEGE. JEFF, WITH HIS FRAUDULENT CLAIMS OF PROFESSIONAL BASEBALL PLAYING EXPERIENCE IS EQUALLY A HOAX OF A TOP EXECUTIVE FOR ALL THE SOCALLED ANTICS OF DUQUETTE(KAZMIR 4 ZAMBRANO) & MINAYA (BERNAZARD CIRCUS) THEY ARE ALL OVERSHADOWED IN INEPTITUDE BY THE GRAND PUPPETEER WITH NO SENSE OF HUMOR OR HONOR
IT WAS DOUBLEDAY WHO FORTOLD OF NYM DEMISE ONCE HEARING OF JEFF’S APPOINTMENT AS C-UH-OH. BE IT “SOUR GRAPES” OR TOO MUCH WINE THE TRUTH OF THAT PROGNOSIS NOW HURTS AS JEFF’S FINGERPRINTS ARE UPON EVERY DISMAL DISAPPOINTMENT TRACED ALL THE WAY BACK TO HIS INITIAL FRONTOFFICE ORGANIZATION CHART WHICH HE PROUDLY PROCLAIMED AS “OPEN ARCHITECTURE” WHILE NOTABLE PUNDITS LIKE BILL MADDEN REFERRED TO IT AS A FRATHOUSE DESIGN WITH NO CLEAR LINES FOR DECISIONS OR COMMUNICATIONS A DELIBEWRATELY DISTORTED RESPONSIBILITY CHART DESIGNED TO OBFISCATE IT’S ARCHITECT’S INCOMPETANCE.
ADDING MORE INJURY ON TOP OF INSULT, IT’S PURPORTED THAT IT WAS JEFF WHO INTROFUCED FRED & BERNIE(MADOFF) WHILE IN HIGH SCHOOL. BETTER MOMMA WILPON BESTOWED THE NAME JONAH IN LIEU OF JEFFREY AS A MORE ACXCURATE MONIKER AS ALL THAT HE SEEMS TO TOUCH TURNS INTO “RUST”
OK, DID U CONSIDER ALL OF THE ABOVE WHEN PROCLAINMING YOUR LOVE FOR WILPON?
AS HAS BEEN REITERATYED COUNTLESS TIMES THROUGHOUT HISTORY, LET ME REMIND U OF THE OLD PROVERB, “THE ROAD TO HELL IS PAVED WITH GOOD INTENTIONS”
62, Right on. It is amazing how many fans do not recognize the dire states this franchise is in with the Wilpons still entrenched in ownership. They have turned the Mets into a laughingstock and as a long term fan (also since 1962), I am not happy about that whatsoever.
MASK, NICE TO HEA FROM U; THOUGHT I’D SHARE THIS LITTLE RENDITION COMPILED BY SI A WHILE BACK. I BELIEVE IT UILLUSTRATES OUR POINT EMPHATICALLY…
The Mets brand has been tarnished by a series of scandals and calamities on the field and off: the 2007 guilty plea of former clubhouse attendant Kirk Radomski to distributing steroids, the 2005 guilty plea of groundskeeper Dominic Valila to participating in an organized crime gambling operation, the arrest this month of longtime equipment manager Charlie Samuels for allegedly stealing equipment and uniforms, the arrest last year of closer Francisco Rodriguez for assaulting the father of his girlfriend outside the Mets’ clubhouse, and Madoff … all of it since Wilpon bought out his former partner, Nelson Doubleday, for $131 million in 2002 to become the sole owner.
ALL OF THESE IN ONE WAY OR ANOTRHER FALL UNDER “TEAM OPERATIONS” ON ANY OTHER FRANCHISE “HEADS WOULD ROLL!”
Exactly, so much for the executive capabilities of Little Jeffie. What a joke! What will it take to get these guys out of the owners seat?
it isnt the end of the world in the sense that it is barely relevant at all.
What an AWFUL article that is completely unrealistic and unaware of the dire circumstances surrounding this franchise. The Wilpons have taken the Mets into a declining cycle of reduced expectations and this article demonstrates that. The performance of the team has degarded to where it it irrelevant and the lack of fans in seats demonstrates that irrelevance. The lack of fans in seats has put the franchise in a negative cash flow situation. The Wilpons have now stated that they infused capital to cover the remainder of the season expenses. That is nothing more than paying the bills which all responsible parties must do. It does nothing to grow the team and its level of performance. With the Wilpons in charge, we as fans are doomed to a mediocre and declining team. Ownerships’ primary objective is to reduce salary to lower carrying costs of the franchise. That is not a formula for success. I have to disagree with the headline of this article. The loss of a deal with Einhorn IS the end of the line (or the world as Mets fans are concerned) when it comes to the prospects for this organization.