Mets could become insolvent?

[RandolphScott]

Sorry guys I don't have a link, but I was taking a break from studying to flip on the news for a while.

 

Apparently the Wilpons' lost 500 million dollars in the Madoff ponzi scheme and are quietly

looking for other investors and have closed their checkbook for signing new players.

 

Take it for what it's worth.

[jranieli]

Hope they can sell the team to someone who would rather win then field a third place team.

[RandolphScott]

It seems the Wilpons are taking on water from all sides of the boat

 

1. They still are in debt to Doubleday from buying the team outright from him.

 

2. The Wilpon's main bread and butter scheme is real estate and since that market sucks right now

and for the foreseeable future they will continue to take heavy losses.

 

3. The 500 mill they lost in the Madoff scheme.

 

4. The Citifield debt they are in.

 

 

[jranieli]

I am sure they would find a buyer pretty quickly. It's a very attractive organization with a brand new ballpark, it's own cable network, and a pretty strong fan base located in the largest market.

[Allstarjim]

I've always wanted to be an owner of my favorite team. I have a couple thou, you guys want in?

[xxi-xxv]

If it forces these cocksuckers to sell and get some good owners in here I am all for it.

 

I cannot translate to the naysayers enough, yes they have spent some money, but for them the Mets are more about making money than winning. They have enough money to buy 3 teams, but being the meisers that they are they want big time profit every year from the Mets.

 

You think the same payroll in 2009 as 2008 means they make the same profit as 2008? With the new stadium, concessions, higher ticket sales etc? They will in my guess make 20-30% more revenue in 2009 than 2008, while still spending the same amount on the team. How many folks can say they are 20% richer this year in this economy?

 

I would love nothing better than IF this teams tanks for that place to be bone empty late in the year and have this blow back up in their faces.

[jranieli]

If it forces these cocksuckers to sell and get some good owners in here I am all for it.

 

I cannot translate to the naysayers enough, yes they have spent some money, but for them the Mets are more about making money than winning. They have enough money to buy 3 teams, but being the meisers that they are they want big time profit every year from the Mets.

 

You think the same payroll in 2009 as 2008 means they make the same profit as 2008? With the new stadium, concessions, higher ticket sales etc? They will in my guess make 20-30% more revenue in 2009 than 2008, while still spending the same amount on the team. How many folks can say they are 20% richer this year in this economy?

 

I would love nothing better than IF this teams tanks for that place to be bone empty late in the year and have this blow back up in their faces.

 

It's okay though. They do have a competitive team on the field. The team will be fighting the Phillies all year long. Don't worry, they will make their money but at the end the team will tank again. This time in a tie-breaker game.

[gateb]

If it forces these cocksuckers to sell and get some good owners in here I am all for it.

 

I cannot translate to the naysayers enough, yes they have spent some money, but for them the Mets are more about making money than winning. They have enough money to buy 3 teams, but being the meisers that they are they want big time profit every year from the Mets.

 

You think the same payroll in 2009 as 2008 means they make the same profit as 2008? With the new stadium, concessions, higher ticket sales etc? They will in my guess make 20-30% more revenue in 2009 than 2008, while still spending the same amount on the team. How many folks can say they are 20% richer this year in this economy?

 

I would love nothing better than IF this teams tanks for that place to be bone empty late in the year and have this blow back up in their faces.

Why? I'm not exactly a Wilpon guy either but even if the mets bomb this year the Wilpons even with the whole Madoff thing are still more successful than we're ever gonna be so they'll get over it.

 

I'd rather just go on a flukey WS run...

[xxi-xxv]

Why? I'm not exactly a Wilpon guy either but even if the mets bomb this year the Wilpons even with the whole Madoff thing are still more successful than we're ever gonna be so they'll get over it.

 

I'd rather just go on a flukey WS run...

 

Let me tell you something GateB, you take 700 million dollars of cold hard cash from ANYONE no matter how successful they are they are not gonna get over it that easy. This is not a slight loss. 700 million is probably about 70% of the value of the NY Mets as a franchise(assuming they would sell for 900 mil to 1 billion dollars).

 

If you took my savings(401k, savings, retirement etc) and just vanished it to thin air 70% of it as compared to my most valuable asset(say my home) again I do not care how rich you are, you aint getting over it.

 

Its not like they lost the money in the market and it will come back, like say we can with 401k's house prices etc, the moneys gone, kaput, blown. There is a huge difference.

 

They are never getting this money back EVER.

[gateb]

Let me tell you something GateB, you take 700 million dollars of cold hard cash from ANYONE no matter how successful they are they are not gonna get over it that easy. This is not a slight loss. 700 million is probably about 70% of the value of the NY Mets as a franchise(assuming they would sell for 900 mil to 1 billion dollars).

 

If you took my savings(401k, savings, retirement etc) and just vanished it to thin air 70% of it as compared to my most valuable asset(say my home) again I do not care how rich you are, you aint getting over it.

 

Its not like they lost the money in the market and it will come back, like say we can with 401k's house prices etc, the moneys gone, kaput, blown. There is a huge difference.

 

They are never getting this money back EVER.

I'm just saying that if the Mets suck this year then they'll get over it.

[TaylorBanksCarsonVanPelt]

If it forces these cocksuckers to sell and get some good owners in here I am all for it.

 

I cannot translate to the naysayers enough, yes they have spent some money, but for them the Mets are more about making money than winning. They have enough money to buy 3 teams, but being the meisers that they are they want big time profit every year from the Mets.

 

You think the same payroll in 2009 as 2008 means they make the same profit as 2008? With the new stadium, concessions, higher ticket sales etc? They will in my guess make 20-30% more revenue in 2009 than 2008, while still spending the same amount on the team. How many folks can say they are 20% richer this year in this economy?

 

I would love nothing better than IF this teams tanks for that place to be bone empty late in the year and have this blow back up in their faces.

 

 

This reminds me of the 80's and 90's when the Knicks were corporate owned. They always needed that third player or other superstar scoring option beyond Patrick...but the corporations were just happy to get to the second round in the playoffs and keep the Garden filled and not into winning championships. I said myself at the time....the wrong owner (Doubleday) sold out to the other.

[TaylorBanksCarsonVanPelt]

Let me tell you something GateB, you take 700 million dollars of cold hard cash from ANYONE no matter how successful they are they are not gonna get over it that easy. This is not a slight loss. 700 million is probably about 70% of the value of the NY Mets as a franchise(assuming they would sell for 900 mil to 1 billion dollars).

 

If you took my savings(401k, savings, retirement etc) and just vanished it to thin air 70% of it as compared to my most valuable asset(say my home) again I do not care how rich you are, you aint getting over it.

 

Its not like they lost the money in the market and it will come back, like say we can with 401k's house prices etc, the moneys gone, kaput, blown. There is a huge difference.

 

They are never getting this money back EVER.

 

 

That is what I am saying. And look at it this way....all of these rich cats are far from dumb. You know they had to realize that Madoff had to be doing something illegal when he kept showing 15-20% returns during bull and bear markets; plus all of his clients had to sign non-disclosure agreements that he was handling their business. That is a classic red flag....basically because he did not want people comparing notes. But even if you could not see the whole picture...those kind of steady consistent profits over a 30 year period do not happen in the real world. Just goes to show you that greed clouds all judgment. I really feel sorry for the charities, unions, small individual investors and non-profits that have been destroyed with 80-90% of their dough tied up with this cocksucker.

[xxi-xxv]

That is what I am saying. And look at it this way....all of these rich cats are far from dumb. You know they had to realize that Madoff had to be doing something illegal when he kept showing 15-20% returns during bull and bear markets; plus all of his clients had to sign non-disclosure agreements that he was handling their business. That is a classic red flag....basically because he did not want people comparing notes. But even if you could not see the whole picture...those kind of steady consistent profits over a 30 year period do not happen in the real world. Just goes to show you that greed clouds all judgment. I really feel sorry for the charities, unions, small individual investors and non-profits that have been destroyed with 80-90% of their dough tied up with this cocksucker.

 

Funny thing is though the Wilpons have not raised the payroll in 2009 as compared to 2008, but they have raised ticket prices, parking, concessions, etc. So who are the dumb cats now as we watch the mets, in this economy probably make 20% more money in 2009 than 2008 but spending the same amount. Think since they are in a new stadium they are payintg the vendors and parking attendants more money?

[TaylorBanksCarsonVanPelt]

Funny thing is though the Wilpons have not raised the payroll in 2009 as compared to 2008, but they have raised ticket prices, parking, concessions, etc. So who are the dumb cats now as we watch the mets, in this economy probably make 20% more money in 2009 than 2008 but spending the same amount. Think since they are in a new stadium they are payintg the vendors and parking attendants more money?

 

 

Hell no. There is a sucker born every minute. I usually get free tickets for my organization since its a non-profit that provides services to formerly homeless families. So I will see how many freebies they toss out this year. That is the only way I am going to catch a game in the new stadium as far as I can see it this year. I have constitutional prohibition against being ripped off.