for display only
Big Blue Interactive The Corner Forum  
Back to the Corner

NFT: MLB has pre-approved seven groups as possible bidders on the

Big Blue Hokie : 6/30/2020 1:56 pm
This sale cannot come soon enough......
Please Sell Wilpons - ( New Window )
Was  
DanMetroMan : 6/30/2020 1:59 pm : link
told not to expect a sale any time soon. Hopefully this is the final year of the Wilpons. I'll be sick if they choose a buyer who lets Jeff stay on.
I have been poking around the bankers  
bhill410 : 6/30/2020 2:43 pm : link
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....  
Torrag : 6/30/2020 2:44 pm : link
...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.

please Dan - let me live in ignorant bliss...  
Drewcon40 : 6/30/2020 2:54 pm : link
...with the stoppage, there are some great Mets YouTube compilations with news clippings and highlights by years.

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.
Just thinking through this  
bhill410 : 6/30/2020 3:09 pm : link
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.
Previous timelines  
pjcas18 : 6/30/2020 3:16 pm : link
said they hope to have the buyer selected by October and the sale wrapped up before the end of the year.

Not sure if that's still the case or not.
Was  
DanMetroMan : 6/30/2020 3:43 pm : link
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
The reason October keeps popping up  
Shecky : 6/30/2020 4:41 pm : link
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...
the Wilpon's went to the George Costanza School  
Victor in CT : 6/30/2020 4:55 pm : link
of Business Negotiations
Steve Cohen  
Samiam : 6/30/2020 6:38 pm : link
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?
RE: Steve Cohen  
Eric on Li : 6/30/2020 7:40 pm : link
In comment 14926990 Samiam said:
Quote:
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.
Wonder which potential owners  
Shecky : 6/30/2020 7:56 pm : link
View this opportunity as a Dodger like situation and it’s grossly underpriced?
RE: Wonder which potential owners  
Eric on Li : 6/30/2020 8:03 pm : link
In comment 14927027 Shecky said:
Quote:
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.
Interesting conversation just had  
Shecky : 6/30/2020 9:53 pm : link
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?
Back to the Corner