I have been exposed too over the years and apparently minimal scuttlebut was was kind of surprising. From my own experience if you have 7 folks entering into the data room now and they are taking first round of bids mid to late July there will likely be a binding term sheet by Labor Day. That puts this in a position to have it closed in November IMO.
I read a recent article that said the Wilponsies wanted the sale....
...completed by end of October. That's not that long to wait if accurate for a fanbase that has been desperate to see the back of them for as long as we have.
You likely have the accountants and 2 sets of bankers doing dilligence. If you have a conglomerate group who the heck knows how many parties they are bringing to table. July 20th week seems reasonable in that instance for first round of offers. Figure by August 1 there is going to be a preferred partner (assuming they find someone at all interested in buying). and that is when fun starts as it relates to the Wilpons trying to stay involved. If they keep it vanilla you would have 2/3 rounds of “best and final offer” and have binding terms by end of August with contract negotiations going through September. If they play it sketchy this could easily drag into 2021.
Would absolutely love to see the list of folks in data room.
told just "this should be the last season you're stuck with the Wilpons but don't expect them out before the end of this season" also... "but you never know with Jeff Wilpon involved".... dun dun dun
Is fee agency if deal isn’t done before then, team is less valuable with LT deals on table. But is more valuable with talent around. Think about the free agency and winter meeting ramifications of the tugs and pulls on Brody...
Is that the hedge fund guy that had a deal that fell through? Is he completely out of the picture going forward? Was there an explanation for why it blew up?
Is that the hedge fund guy that had a deal that fell through? Is he completely out of the picture going forward? Was there an explanation for why it blew up?
The Cohen side claimed the Wilpons had unrealistic asks about remaining in control.
The Wilpon/MLB side claimed Cohen tried to change the deal at the last minute.
He is still a partial owner so anything is possible, but with 7 bidders I'd imagine they will find a preferable alternative (for them, not necessarily fans, but who knows).
Cohen probably has more money than anyone else in the bidding and since he's already a partial owner I wouldn't count him out. But with 7 alternatives I'd take the field.
View this opportunity as a Dodger like situation and it’s grossly underpriced?
That's the most comparable recent sale but this one has more thorny short term issues. Chiefly the pandemic, the impending labor stoppage, the Wilpons, and whether or not SNY is involved. Even with all that I expect them to get more than $2bn. Just got to hope they choose someone who will be a good owner and throw the Wilpons out the front door.
With history of Cubs and Astros tanking for picks. If you’re an uncompetitive team this season, say Orioles. 1/3 of a season being played at best. Empty stadiums anyway. Economics are shot anyway
Is there any incentive to win ten games this season?
Seriously, I know you are sharing realistic news. Thank you. A sale gives me hope that this team can possibly return to the feeling I had in late 80s.
Would absolutely love to see the list of folks in data room.
Not sure if that's still the case or not.
The Cohen side claimed the Wilpons had unrealistic asks about remaining in control.
The Wilpon/MLB side claimed Cohen tried to change the deal at the last minute.
He is still a partial owner so anything is possible, but with 7 bidders I'd imagine they will find a preferable alternative (for them, not necessarily fans, but who knows).
Cohen probably has more money than anyone else in the bidding and since he's already a partial owner I wouldn't count him out. But with 7 alternatives I'd take the field.
That's the most comparable recent sale but this one has more thorny short term issues. Chiefly the pandemic, the impending labor stoppage, the Wilpons, and whether or not SNY is involved. Even with all that I expect them to get more than $2bn. Just got to hope they choose someone who will be a good owner and throw the Wilpons out the front door.
Is there any incentive to win ten games this season?