Sports business reporter Scott Soshnick reports at least three minority partners of the New York Mets are exploring to sell “at least 10%” of their share in the New York Mets. Two of the three minority partners looking to sell are Comcast and Charter Communications. At this time, the third partner is not yet named.
As noted by Soshnick, both of those entities are investors in SNY.
Back in 2012, when the Wilpon family was purportedly facing the worst of their financial difficulties, minority shares in the Mets organization were available for sale. At that time, the Mets sold four shares of the team with each share being worth $20 million to SNY. At that time, the Wilpon family owned 65 percent of SNY.
In total, the Wilpons would sell off 12 shares in the team worth $240 million. As reported by the New York Post, in addition to the shares sold to SNY, there were also shares sold to comedian Bill Maher as well as hedge fund “titan” Steven Cohen. To this date, it is still unknown who the identities of all the individuals who have purchased the Mets minority shares are.
In proceeding with the sale, the minority owners will be represented by Inner Circle Sports, who serves to “frequently work as a buy-side advisor to lead the purchase of a sports franchise or sports-related operating company.”
