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Thursday, April 30, 2020

Billionaire looking to buy Mets at Fire Sale price.

If you don't include the Cable Network you own that is a money maker along with the team you are selling which loses money, you might be lucky to get 1.6 billion dollars. Maybe the Wilpons will realize to stop being so greedy when they start seeing basically a billion plus dollars go away.

From the NY POST
The latest billionaire bidder for the Mets might actually be more of a bargain shopper.
According to multiple sources familiar with the situation, biotech investor Wayne Rothbaum is still interested in buying the money-losing MLB franchise from the Wilpons, but without the team’s money-making cable network SNY included, Rothbaum would only pony up at an amazin’ discount.
“I think he likes the idea of $1 billion,” one source told The Post. “It’s a round number and the Wilpons are not holding any cards without SNY.”
If Rothbaum is indeed looking at a number as low as $1 billion, that is a bad sign for Fred and Jeff Wilpon, who scuttled a $2.6 billion deal with hedge funder Steve Cohen for their majority share of the Mets without SNY back in February. Since that pact imploded, COVID-19 has upended the global economy and put the MLB season at risk, making it likely that the Wilpons could lose as much as $150 million if the team plays only half a season in the end stages of a virus pandemic.
Recent valuations peg the Mets without SNY at $1.6 billion.

Read more here.

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