11
2012
Morning Grind: As Long As Selig’s In Baseball, So Too Will The Wilpons
An article by 
Despite being adamant about his retirement following the the 2012 regular season, we learned yesterday that Bud Selig will receive at least two-year extension as Commissioner. Knowing that Selig will do –and to this point has done– everything in his power to keep the Wilpons as owners, this is disheartening news. This indirectly cripples the Mets financially for another two years.
Even if the Wilpon’s do get investors, they will not attain anything close to the amount of loans they owe. As shown in this eye-opening article in the New York Times, the Wilpon’s have nearly one billion dollars to pay back in loans by 2015. Between this and the Bernie Madoff lawsuit, the Mets finances are about to fall on harder times then we are seeing now. Yet seemingly no matter how bad it gets, Selig will not seize the franchise from Wilpon.
As I stated in my last edition of The Morning Grind, you can’t have a cash-strapped team in a city like New York. Places like New York, Boston, and L.A. are pillars of the sport; major markets that can’t bow out of competition strictly because of financial instability. If Selig were to do the right thing for baseball –just try to imagine this–, he would lay down the law with Wilpon. But instead of doing what’s right for the Mets, and in the interest of maintaining a major-market franchise for the good of baseball, Selig instead decides to go out of his way to aid his old pal Fred.
With Selig as the “watchful” eye over baseball for another two years, the Wilpons do not have to worry about losing the team; they can continue to hemorrhage money to their heart’s content. If this was any other commissioner that did not have a connection to the Wilpons, the Mets would have been seized from them already. It’s incredible what the benefits of friends in high places will get you.
The only way I see a changing of hands of Mets ownership is if Katz and the Wilpons decide for themselves to sell, because Selig sure as hell isn’t going to force the issue.
It boils down to this: As long as Bud Selig is Commissioner, the Wilpons will not be forced to sell. If they are not forced to sell, the Mets will be strapped for cash even more so than they are now; and we all know what that means. Buckle up, and get ready to watch the New York Mess continue so long as Selig’s around.
About the Author: Clayton Collier
Clayton, a Long Island native and die-hard Mets fan, started writing online about three years ago. He is currently a Journalism major with a minor in Broadcasting at Seton Hall University. Although very disappointed with the current state of the team, Clayton remains hopeful that the young prospects in the farm system will bring the Mets back to a respected franchise in baseball once again. Besides writing for MMO, Clayton is also a staff member at 89.5 WSOU, Seton Hall's modern active rock radio station. You can contact Clayton by following him on Twitter: @Clayton_Collier or E-mailing him at MaybeNextYearMets@yahoo.com
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Selig might not be doing the Wilpons a favor. Trying to help them has put them in even more debt ($25 million from MLB and approving the $40 million bridge loan). Not to mention the fee they will be paying CRG. And the more the Wilpons hang on, the more they are going to lose for revenue is going to drop much more than operating expenses.
If Selig was a true friend, he would advise them to get out sooner before the dam breaks altogether. It already has for all Met fans. And whatever one thinks of Omar as a G.M., his ballooning roster payroll was the least of the Wilpon’s financial troubles, though they tried to make it seem otherwise.
Clayton, the SNY and Mets loans of $400+ million are 5 year adjustable loans that usually get refinanced every 5 years with new terms for the next five years. They are not due in 2014 or else, the way Megdal and Sandomir suggest. All teams maintain revolving debt.
The trick to beating this for the Wilpons is positive cash flow. Positive cash flow changes everything in business.
The Mets were losing $70 million annually, they have already chopped that number to about $2-5 million with all the steps they have already taken.
The 50th Anniversary of the NY Mets will lead to more attendance than the last two seasons and more marketing opportunities.
CRG will recommend divesting the team of David Wright in their report of actionable steps which they will give Wilpon after their analysis is complete. That puts the Mets out of the red and into the black.
2013 will be the final years of Johan and Bay, in 2014 they are out from under those contracts and annual commitments.
The media is hell bent on alarming the fanbase but it’s really much ado about nothing.
But one thing is certain and you plainly point that out. With Selig on the throne for two more years, the Wilpons are going nowhere.
Hi Joe D,
If what you say about the long-term financial situation not being as dire as it’s made to be is true, then that means we as Met fans have little to cheer about or hope for.
The only way to rid ourselves of the Wilpons is to hurt them where it hurts the most – in their pocket book. Stay away from the park, don’t even buy tickets through the secondary market and let the empty seats force them to sell like it did M. Donald Grant. Fan revenue didn’t create the situation and the lack of it might be the only way for it to be resolved.
Joey D.
While I don’t want them to stay, it’s not really the end of the world if they do. What we have to wait and see is if they learned anything from their poor decisions and money management over the last decade.
That is doubtful.
Joe, is there an anticipated time or date for CRG to present the analysis to the Wilpons?
IMO, ‘much ado about nothing’ is stretching this a bit.
For those Minaya loyalists, if they weren’t in this position, Minaya might very well have road out the last 2 years of his contract instead of being fired. For a team with these financial constraints, if it was just about money they would have kept him and had him slash payroll. No need to pay 2 GMs for the same time frame.
This is much more…starting with the deal the Wilpons made with Selig which included SA as GM. While I believe a change in the FO was needed, I don’t believe this was any normal type selection process and the Wilpons decided on SA. He was force fed by Selig. Which tells me Selig doesn’t have any confidence the Wilpons have a clue about running a baseball team and could turn this around on their own.
There you go with Minaya again…
Joe D.: I just went by the NYT article. I really need to read “Wilpon’s Folly”, just I don’t think my sorry excuse for a computer will read it.
As for Selig, I had been pretty happy with him up until now. The wild card, labor peace, etc. has been good, other things like the ASG counting for something is pure stupidity. Seeing how he has handled the Mets makes me sick. Seizing teams and changing hands allows the franchises to remain competitive, while this madness cripples the team! It is so frustrating to even think about.
I have a rather limited view or understanding of the Wilpons finances. I do not know how much Sterling enterprises connects to the Wilpons directly. Or what have you but I do know that Selig has not helped this sport much in his tenure. Sure attendance has been up but so is the population. Why can’t I find a game on broadcast tv any day of the week except sat. Any way He has always been an inside guy and has done little to help a market disparity or the sport in general.
Why will the 50th Anniversary of the NY Mets lead to more attendance? Most Mets fans can’t be that stupid! Attendance will go down to—I’m guessing—around 20,000/game, and if and when Wright is traded, it will go down further.
Sorry, this was meant as a reply to Joe D.
*to* around 20,000/game.
It may not seem like it from reading blogs like this, but there are still many people that actually like the Mets, and enjoy going to the ballpark to watch a game. And many of them don’t particularly care who the owner or GM is.
Hey, you’re entitled to your opinion. I enjoy watching Ike, David (hope they don’t trade him), Murphy, et al., but the Wilpons have no right to spend so little on our team due to their personal financial problems—anymore than Harry Frazee had the right to sell Babe Ruth to the Yankees to help finance his Broadway plays.
Yes, I want to watch Ike, David, Lucas, Daniel and the others but I’ll be damned if I’m going to give one penny of my hard earned money to carpetbaggers like the Wilpons. Don’t forget that before the whole Madoff mess and when they were drawing 4 million, they weren’t designing a ballpark for working class fans.
As far as Sandy Alderson is concerned, I don’t know if he is simply going along with the company line or a part of it.
Exactly, Joey! Boycott the Wilponzis outta here!
Hi Steve,
I’m really hoping so. I just wish more fans would see beyond their anger regarding the Wilpons taking the team down with them and take it personally, like I do, being treated as second class citizens (for reasons stated above).
Even upper deck Yankee tickets cost a less (when taking into account those added processing fees) with no obstructions (and the club does advise fans a small section of bleachers do have sight obstructions and thus the tickets are discounted). While charging a mint for luxury boxes that have gone unoccupied, at least the Yankees didn’t snub their fan base.
Good points on the seating, Joey!
I could be wrong, but I don’t think so. A couple of weeks ago at a New Years Eve get together with friends and family, I counted three brand new Mets jerseys with the 50 Anniversary patch. I thought to myself, wow, Mets fans will keep being Mets fans no matter what. It’s a privilege to be a part of such a special group of people.I said on Twitter the other day, it’s okay to be upset with ownership or management, but we should still support the team and players. If you go to 3-4 games a year religiously, there’s no reason to stop doing that.
Could be, but I have a feeling most Mets fans will stop supporting the Wilpons. I was a Mets fans 50 years ago, and was PROUD to be one for the past half-century. I don’t feel that way now. I will root for the players and manager, but can’t see giving the present owners any money.
It’s not what you know, but who…..
What I’m also concerned about is what new owners will not be able to do for us in the form of good will (not in altruistic terms but in those of business) since they are inheriting a ballpark built by the Wilpons with little concern for the average fan.
- How can they lower ticket prices in a park that only seats 42,000? Many families who want to go to a game simply can’t afford to do so maybe more than once a season. The Wilpons gamble that less will spend more backfired.
- What can they do to enable fans along the third base line to see left field? Is it even feasible financially and construction wise to restructure the stands and that restaurant to eliminate that blight?
- Will they allow use of more entrances restricted to the high roller fans and add escalators to the upper promenade for those entering in left or right?
- A couple of extra bathrooms up that way would be nice too.
The Wilpons built a park not for the average fan and unfortunately, that will always be with us for I think there is little that new ownership could do to remedy that situation.
The Indians signed former Dodgers/Mets SS prospect Chin-Lung Hu… i just threw up in my mouth.. this guy has gotta be the WORST BASEBALL PLAYER in the history of the majors, and to think the genius sandy alderson traded for this guy is BEYOND ME!!!
Aleax68 — Worst player ever? You’ve got to be kidding. How about Michael Jordan? A guy slightly better than Jordan was Danny Ainge. There are probably 100 players not as good as Hu.
Worst player ever? HA
http://deadspin.com/5820716/the-100-worst-baseball-players-of-all-time-a-celebration-part-1
Given the fact that it was a genius GM who actually traded for him and ching lung hu sucking the way he did, in fact that makes the worst player we have ever seen, i don’ tcare whether you’re 43 or 22 like donal…
Worse than Jon Adkins? Oh yeah he the Mets traded Heath Bell for him…………
It isn’t about Selig. If they can make the payments, they can stay. MLB has no “right” to take away the frnachise if they are able to stay afloat financially. Yo think the owners are going to put up with the league stepping in and repoing a franchise everytime the fans don’t think the owners are spending enough?
If I showed my kids those pictures posted above of Freddy, Jeffy and Buddy I’d be arrested for child abuse! Yikes!
Making my kids Mets fans alone is enough to guarantee therapy much less those mug shots.
“The Horror! the horror!”