16
2011
Selig Helped Wilpons Break The Einhorn Deal
An article by 
On Thursday, John Harper of the Daily News, reported that there is now “a level of pessimism among MLB people about whether the Wilpons are going to survive their financial problems.”
An MLB official told Harper the it could be the banks, more so than MLB, that are likely to start squeezing the Wilpons, writing, “They’re sort of at the end here with the banks and everything else”
Harper also makes the point that “even if they survive the Madoff lawsuit, there is the matter of how they survive if they are losing $70 million a year.”
The NY Post spoke with Howard Megdal of the Journal News who recently published a new book entitled “Wilpon’s Folly” in which he says,
“Wilpon asked Selig to strike the provision requiring him to enable and assist David Einhorn in his pursuit of majority ownership, if Wilpon couldn’t repay him,” author Howard Megdal writes in “Wilpon’s Folly.”
“The idea would be that Selig would play the bad cop. When Major League Baseball put the kibosh on Einhorn, Wilpon would have plausible deniability, and could throw up his hands and say, ‘What can I do? This is how MLB works.’”
Einhorn heard about the dealings and, on Sept. 1, had a heated discussion with Wilpon that resulted in Einhorn walking away from the deal, according to the book.
It just goes to show the great extents the Wilpons will go through to keep this team no matter how difficult it becomes. Their stranglehold on the Mets is further tightened by a commissioner who goes through tremendous personal efforts to facilitate their continued hold of the team and he has looked past several serious MLB violations to ensure that his longtime friend, Fred Wilpon, stays in power.
Fangraphs also threw a log into this fire and writes:
Fred Wilpon hasn’t been giving any more ill-advised interviews about the dire straits that he and his team are in, but there’s no denying that things are coming to a head. It’s going to be awfully hard for him to get any new loans until he starts paying some loans back, it’s going to be awfully hard for him to pay some loans back until the team starts making more money, and it’s going to be awfully hard for the team to start making more money until they win.
That’s why virtually every interview with a Mets official, including the Sandy Aldersoninterview on why they didn’t make a formal offer to Jose Reyes, talks about how excited they are to be getting Johan Santana back. Unfortunately, it looks like Santana won’t be ready for opening day, and his operation in September 2010 — to repair a torn shoulder capsule — was most recently undergone by Chien-Ming Wang, who required two years of rehab and wasn’t the same when he returned last year. As always when it comes to a pitching shoulder, it’s unclear whether we’ll ever see Johan Santana pitch like Johan Santana again. But right now, it looks like the Wilpons’ best hope to hold onto the team is to contend in the division, and their best hope for that is for Johan Santanana, Jason Bay, and David Wright to come back and pretend it’s 2008.
I mentioned that the Wilpons have been on a gag order last September – ever since that New Yorker interview when Fred said Reyes wouldn’t get Carl Crawford money.
I’ve also referred to many of the Mets moves and announcements this offseason as smoke and mirrors.
You could purchase a copy of Megdal’s new book on Amazon.com for $2.99. I just got mine this morning and will read it this weekend.
Wilpon’s Folly
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.
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I’m still a firm believer in that this will blow up in the Wilpon’s face after Selig is retired. If there was 1 trait I’d say Alderson has (assuming you Joe are right on your theory of him being next commish) it’s that he lives doesn’t take you know what from anybody… For all the negatives people want to say about his style of roster management you can’t deny that he is firm in his position and does what he sees best for the team.
He’s not going to let the Wilpon’s get away with this kind of stuff. He’s not a user car salesman like Selig. If he gets that job he’s going to do what is best for baseball, not best for 1 owner.
The most interesting quote in this article to me is
“Einhorn heard about the dealings”
How? Who told him? That’s a pretty significant leak if you ask me. You can’t tell me many people KNEW about this so called “plan” for Selig to play bad cop. Which means he would hear about this from somebody very much in the know.
Slime bags…… Wilpons/Katz/Selig…… Shame on Alderson for being their puppe and mouthpiece. Was he that desperate for a last hoorah as a playa?
Joe D, how about placing a question mark at the end of the title or at least letting readers know the Mets side of this story. This story, while it may come out as true, has nothing to back it up right now other than the anger of the fans.
Frankly I’m surprised it doesn’t say “Alderson advised Wilpon’s to break Einhorn deal”.
Alderson advises nobody. He’s on two leashes; Bud’s and Fred’s. He gets paid very well to tow the line and cut expenses.
You obviously didn’t get my sarcasm that was pointed to your more angry posters.
You forgot to engage the sarcasm font.
In my opinion this is not a question. For three months I have been communicating how implicit Selig has been in enabling this debacle. It’s my firm belief that this happened exactly as Megdal wrote according to my own conversations with people who had knowledge of this.
Yet you have no proof. Thus your title implies that this is indeed what happen yet we have no actual proof that it did. You say that you are bringing balance to the Mets blogosphere, however what you are doing is just telling one side of the story. For now MLB has denied this, until that is proven to be a lie then “Selig Helped Wilpons Break The Einhorn Deal” is just a hunch or assumption. Are you allowed to make that assumption? Sure. Did this post pass it off as fact? Yeah.
Are you kidding me? MLB aka Bud Selig denies it?
He’s free to contribute a post to balance mine out.
The ball’s in your court, Bud.
Why should it need balancing? Why not present both sides of the story THEN present your opinion on the story? Isn’t this exactly what you and I get on Cerrone and even Rubin about? Making sure your opinion and facts are clearly stated as what they are?
Just to satisfy your curiosity, I’m calling Bud’s office for a comment. His office had no problem contacting me to remove various comments about Wilpon and provide them with the IP address of the person who left them not too long ago. If I don’t get a comment I will update this post to say I gave them the opportunity to respond and they declined, otherwise I’ll post whatever I am told.
Joe, it’s your site buddy. I don’t want to come across as telling you what to do. I just think that at this point it is too early to be posting it as fact…. I agree that there is most LIKELY some truth to this story.
‘His office had no problem contacting me to remove various comments about Wilpon and provide them with the IP address of the person who left them not too long ago’
What??? Since when does the MLB office come down on independent blogs?
Jeeze, didn’t know they had the right…
I must have missed this whole story.
“But right now, it looks like the Wilpons’ best hope to hold onto the team is to contend in the division, and their best hope for that is for Johan Santanana, Jason Bay, and David Wright to come back and pretend it’s 2008.” Well, that’s the end of the Wilpons! Santana won’t come back nearly the same pitcher that he was previously, Bay is a lost cause, and Wright, well he is the best chance at a return to form. But Wright won’t be nearly enough. Not in this division with the Phillies, Braves, and probably the Marlins having superior pitching and the Nationals not far behind. They might be competitive in ’12 and ’13, but contending? Not likely. Not until Wheeler, Harvey and others from the farm system are ready to contribute year in and year out. But clearly an “end of days” for the Wilpons is on the horizon and it cannot come soon enough for me.
Just to balance the force here and allow readers to determine things on their own…. here is the rest of the story.
MLB lawyer Howard Manfred said, “I don’t believe the account in the book is accurate. I think the reason the deal did not come to fruition is the two parties did not have a meeting of the minds on a key provision in the deal.”
A Mets spokesman said, “The author’s desperate self-promotional campaign for relevance has led to perpetuating baseless speculation and complete inaccuracies.”
Read more: http://www.nypost.com/p/news/business/mets_asked_mlb_to_nix_deal_book_GBc5KGJDIhqQVSAs0yuQgM#ixzz1gi4G132A
I wonder how this will affect the investors Wilpon supposedly has lined up to buy shares this winter.
0. The only motivation they had to start with is to just be part of a MLB team. It is not like they were all getting provisions that if the Wilpons have to sell you can buy the team for 10.00.
I don’t know. I’d have a hard time dropping $20 million (if I could afford to do such a thing) on a place with ownership problems like this one. Especially when it shows the owners are willing to use strong arm tactics.
What motivation did they have before?
I have a hard time dropping a couple of hundred on tickets for this team.
might as well still buy your shares if you were going to (well, I know you personally won’t). Eventually the wilpons will shell their stake, and the 20mill people will still own x% of the team. So no real exposure.
It affects it a great deal. They have already had to move their self imposed deadline to secure these deals twice and is now extended into February. I bet they sell 1-2 shares at most when all is said and done.
Joe, seriously though based on what we know there is no rational reason for these people to invest in the Mets anyway. However, we are not thinking as people who have millions of dollars to “invest”. I think most of the ones investing are most likely being promised double shares and all the fun that comes with being part owners of the team. In other words an expensive resort.
“You mean all I have to do is give you $20 million and I’ll get to cut the line at Shake Shack?”
It’s my understanding the money doesn’t exchange hands unless they get the full 10 investors.
From what I read, right now they have a commitment from 7 investors.
I could think of safer places to stash 20m with a better rate of return. It’s all for people that have a ton of money and want to gloat about having a share. Supposedly they have 7 takers right now. After that bridge loan I wouldn’t be surprised is a couple get scarred of. They are not guaranteed investments and I would imagine the stadium bond holders and banking lenders would get first stab at the buyout cash if it comes to that.
I read this and posted this morning because this news is trouble some, not only for the wilpons but for bud selig as well, now questions will surround the commissioner about his role in what would’ve been a scame to try and trick einhorn after a deal was made, this is very bad and is making the wilpons look worst and worst every single day, whoever keeps defendign this people need a reality check, these ppl are crooks who got caught and are now paying the consequences, at the end of the day, it will be great news to see this crooks get out of town as well as selig, the sun will shine the day they step down and a new owner who wants to win steps in…
Alex, my argument is not in defense of the Wilpons. Let me get that straight. It is more about a philosophy that until this is proven true, I refuse to convict the parties of the crime. To me it is similar to those getting on Sandy for rumors of trading Davis and Niese yet at this point they are only rumors.
TRS86, again, i understand what you’re saying, but to be honest, you’re gonna come back and say damn, i was wrong on the wilpons, look at what they’re doing behind einhorn’s back. you think they didn’t know or somebody didn’t tell them about how suspicios that look?? don’t put hands on fire for nobody, except these owners who have done nothing but lie to the fan base over and over again…
Alex, you are still missing my point in all of this. It does not matter what I believe. I have not even had time to determine which side I believe yet. I will form my opinion on this when more information comes out. My point is that right now we don’t have enough to go on to declare it as fact, only enough to make assumptions.
Alex, given your disdain for Alderson and the obvious notion that he is merely holding this position until he can get his hands on the commissioner seat, do you think that he is greasing the skids for Wilpon AND Selig?
To me this reads like a James Patterson novel where the bad guys are the bad guys, the good guys are the bad guys and the incompetent or the uninformed are the good guys. Wilpon is and always will be a snake oil salesmen. That’s why I don’t blame Alderson for the moves he’s making because he trying to get rid of them. In some sick way that’s a good thing. I say sick because the fan base AND the players get stuck in the middle. Disgusting!
Deebo, Excellent anology, the CORE salutes you on that… i never thought of it that way, but the thing is alderson doesn’t seem to care for either the fans nor the wilpons, and he’s lie to cover up their ineptitude as owners. is pathetic to say the least, but i can see where your point is very valid.. i’ve said from the beginning he’s here to slash payroll, not be a GM and me being mad is the fact that guys like craig and jesseP amongst others have basically paint this man as some sort of godsend who does no wrong, then i started question his moves based on what most of them were painting him to be..
alex, there is a distinction between simply coming in to gut payroll, and rebuild the foundation for the future. Doing the 2nd seems to naturally lead to the former though.
I don’t doubt though that his primary mission was to stabilize the team keep it afloat though.
I agree. To me it does not matter why there is a focus on the minor league system and financial responsibility. Either way the end result is still the same. To me it was a move regardless of the situation that had to be made. They over spent their revenue and are now paying the consequences.
Any, TRS, the whole point is his enfacy was in acquiring minor league players and shedding payroll, while lying about competing, this team will be worst than last year, he’s talked about franchise players etc, yet his 2 greatest acq have been francisco and raunch?? please, spare me the words sandy, he’s also to be held accountable for the dimised of this team, whether he’s doing so fans tune out or not, the concept is, players also tune out, go and ask the pirates and the royals…
Alex, again this is not about Sandy. This is about the Wilpons and the current state of the Mets due to years of outspending their revenue and making poor financial decisions.
Also, there is no guarantee that this year’s team will be indeed worse than last. While the loss of Reyes and Beltran hurts, the Mets DID score more runs in the 2nd half with Beltran gone and Reyes missing a large chunk. The Mets ARE hoping to see some return from Johan. Will he be ready for opening day? No idea. Will he be back to his old self? doubtful. Will he improve the staff during the time he is there? I would expect so. Also, don’t we expect some players to take the next step? Are we counting on Ike, Duda, Tejada, Murphy, Niese, Gee, Thole to either provide exactly what they did last year or regress?
If SAs sole purpose was to come here and slash payroll, what’s the point?
They could have kept Omar and done that, saving a couple of million in the process.
Way more to it then just slashing payroll. As in trying to get the franchise back on track, most importantly the minor league system.
SRT, my point exactly, but it seems alderson was assigned by selig once the wilpons asked for the money, selig must’ve said:
i’ll lend you the $25 million, but you got to get the finances under control, hire the moneyballer to slash payroll while fielding a team of scrap heaps and you got yourself a deal…
wilpon then said: done
Nah…they could have kept Omar and done that.
As I said, it’s not only about slashing payroll.
Rational thought.
Selig should be investigated by congress.
I understand your frustration and anger with Bud. However, unless you are talking about a separate issue, then why should he be investigated based on something a guy wrote in a book? Does not seem logical. I would think Congress currently has a lot more on their plate like fixing the actual mess in the economy instead of worrying about something that is actually turning a profit.
Isn’t that why you investigate to prove or disprove the allegations? That (not a secret anymore) $25MM loan seemed shady enough to me to at least investigate.
They don’t investigate based on the whims of some guys book though. What would keep you from writing on on Newt Gingrich? Should they investigate him because of your book?
One random thought though. As much as the fans want Wilpon to sell, can you blame him for wanting to do everything possible to keep the team? Only the fans see him as a custodian that is supposed to be doing what is in the best interest of the fans. To Fred, it is a huge valuable asset that he doesn’t want to lose (plus of course the coolness factor of owning a MLB club!)
No argument from me on both your points.
It’s Fred’s team, he likes owning the team, he wants to continue owning the team.
Only time will tell if he’s going to be able to pull it off.
Wow…Crazy stuff. Once Selig is gone though,Wilpons are toast.
Why my Mets, why?
Now it makes us re-evaluate everything in the recent past. It leaves me thinking Reyes was told to get the hell away from the sinking ship, and I certainly can’t blame him. It just seems more and more obvious that the Mets never could have kept him.
My God, what must other players in the org. think when they learn about this stuff. Even if only 50% is the truth, it’s still beyond scandalous and leaves the Mets looking very diseased indeed.
I’m sick of reading this stuff on here. Why dont we just stick to baseball?
Your question is as ironic as it is ridiculous.
So about that game last night….
Oh
That’s right
It’s December.
I am interested in knowing if the Met players under contract are concerned that their paychecks could bounce. I think it is a legitimate concern. Why would any player sign with the Mets. After all they have families and bills to pay too.
The league and the union will cover the contracts. It is everyone else that gets screwed.
I wish we had just as much breakdown and discussion about Sandy Alderson’s ability to evaluate talent & his player moves since becoming the GM as we do about these financial matters.
I think it’s a sin that the wilpons are selfish, think about it what have they really done as owners of our mets team. They really let us suffer more than build a dynasty to compete with the yankees. That’s why they should sell and give us a real onwer who will bring back tradition thatv’s been missing some honor. Maybe with could have bee3n a einhorn deal there might have been a chance for us, but no the wilpons are selfish, I believe they don’t want us to be winners, they are holding us mets backl to the big picture., don’t anyone of think that. Sorry but that’s what the picture painted seems to be. It’s going to be another cold winter with hopelees to win. I hope we don’t reach the cellar again. Thanks for everything wilpons, oh yeah thanks for giving us another great xmas.