Sell, sell, sell!!
That line always reminds me of the movie "Trading Places", with Eddie Murphy and Dan Aykroyd. You know, the one where they exact their revenge on the infamous Duke brothers after they learn that they have been the subjects of "an experiment". The end of the movie results in the brothers losing their fortune on the floor of the Stock Exchange with the listed quote hanging in the air as their empire folds around them.
That movie line came back to me in a slightly different way today while on line, when I read an article on Fred Wilpon's reaction to the Yankees' recent acquisition of Giancarlo Stanton. Apparently, Fred was "irate" over the transaction and the positive publicity that ensued.
Isn't that something? The patriarch of the franchise is upset over his crosstown rivals making an effort to improve the roster. While I will never be a Yankees fan, I can appreciate the team making an effort and taking advantage of a situation to improve their roster.
I have to say, that concept seems to have been lost on Fred. Or, perhaps that is NOT his motivation as the principle owner of our beloved franchise?
For starters, someone should remind him that it isn't 2015 and the current roster is NOT a World Series contender. Once he accepts that reality, he should be shown the rosters of the Nationals, the Dodgers and the Cubs, so he is aware of who the Mets are competing with, just in our own league. After that takes place, someone should show him what needs to be done in order to actually compete with our rivals AND how much money that will cost (make sure he takes a seat first).
Simply put, if he is not willing to give Sandy the financial resources to compete with the aforementioned teams, then what is point of owning the franchise? Some would say the team is being run like a business and the bottom line dictates the budget. I would counter the "chicken or the egg" argument by stating that the product on the field dictates your revenue, which will establish your future budget(s) which means that you have to invest in the product first!
Based on the recent mandate to lower the team payroll, it is obvious that Fred is a "bottom line" kind of guy. Using his "business first" approach and his apparent love of profit margins, consider the following;
According to Wikipedia, Fred Wilpon first bought a one percent stake in the Mets in 1980 for an undisclosed amount. However, he and Saul Katz became "half-owners" of the team in 1986 with Nelson Doubleday, by collaborating on a purchase price of 81 million dollars. By my math, that means that Fred had roughly 20 million dollars invested at this point (half of half, so to speak).
In 2002, they bought out Nelson Doubleday's share for an additional 391 million dollars, becoming the primary owner(s) of the franchise. If they split this portion of the price, then Fred would have approximately 216 million dollars committed to the cost of owning the team (the original 20 million, plus half of the buy out, give or take a few thousand dollars).
According to a 2013 Bloomberg report, the New York Mets are the fourth-most valuable team in Major League Baseball and are worth just over 2 billion dollars (this factors in the Mets' 65 percent stake in Sports Net New York, which it values at $1.2 billion).
I have to say, that concept seems to have been lost on Fred. Or, perhaps that is NOT his motivation as the principle owner of our beloved franchise?
For starters, someone should remind him that it isn't 2015 and the current roster is NOT a World Series contender. Once he accepts that reality, he should be shown the rosters of the Nationals, the Dodgers and the Cubs, so he is aware of who the Mets are competing with, just in our own league. After that takes place, someone should show him what needs to be done in order to actually compete with our rivals AND how much money that will cost (make sure he takes a seat first).
Simply put, if he is not willing to give Sandy the financial resources to compete with the aforementioned teams, then what is point of owning the franchise? Some would say the team is being run like a business and the bottom line dictates the budget. I would counter the "chicken or the egg" argument by stating that the product on the field dictates your revenue, which will establish your future budget(s) which means that you have to invest in the product first!
Based on the recent mandate to lower the team payroll, it is obvious that Fred is a "bottom line" kind of guy. Using his "business first" approach and his apparent love of profit margins, consider the following;
According to Wikipedia, Fred Wilpon first bought a one percent stake in the Mets in 1980 for an undisclosed amount. However, he and Saul Katz became "half-owners" of the team in 1986 with Nelson Doubleday, by collaborating on a purchase price of 81 million dollars. By my math, that means that Fred had roughly 20 million dollars invested at this point (half of half, so to speak).
In 2002, they bought out Nelson Doubleday's share for an additional 391 million dollars, becoming the primary owner(s) of the franchise. If they split this portion of the price, then Fred would have approximately 216 million dollars committed to the cost of owning the team (the original 20 million, plus half of the buy out, give or take a few thousand dollars).
According to a 2013 Bloomberg report, the New York Mets are the fourth-most valuable team in Major League Baseball and are worth just over 2 billion dollars (this factors in the Mets' 65 percent stake in Sports Net New York, which it values at $1.2 billion).
Even
if he has to split the potential sales price in half, his combined 216 million
dollar investment is now worth over a billion dollars, in approximately fifteen years time. In other words, Fred's investment has increased roughly FIVE FOLD, despite the Madoff scandal!
Fred, it is time to maximize your profits and SELL, SELL, SELL!
My
Christmas wish is for a new owner who has the financial wherewithal and
vision to invest in the team first, which will translate into a much
more entertaining and competitive product on the field.
Michael -
ReplyDeleteGreat minds think alike and you, I, and Reese all have posts today on the Wilpons.
Nice, Michael, and you find out why they haven't sold. They own a run down house in a terrific neighborhood that thru the passage of time its value just goes up and up and up anyway, despite the neglect. If they hold on another 5 years, will it be worth $3 billion despite the neglect?
ReplyDeleteGreat investment, poorly run. Buy and hold. Our loss.
Thanks, Mack......I think we are all a bit frustrated with the lack of financial support. Hopefully we get "our wish"
ReplyDeletein the next few years, or maybe we catch "lightning in a bottle" and stumble into a WS like 2015?
Merry Christmas to everyone that contributes and/or simply enjoys this blog.
We come at it a bit differently, Mike. My issue isn't the budget per se. It is what it is. What bothers me is the inertia. For two straight years (and parts of the previous ones) the "plan" has been to do nothing and wait for whatever scraps are leftover. The lack of a determined focus to win within the parameters you're given is precisely why the idiocy of granting Sandy Alderson another contract rivals the idiocy of having renewed Terry Collins so many times despite the losing results.
ReplyDeleteUnderstood.......the budget helps suppress player transactions in free agency, trades, the international market and even the amateur player draft each year. Sandy isn't the best GM to ever walk into an office, but he is definitely hamstrung by the budget (which is affected by revenue, which is directly related to success on the field).
ReplyDeleteNot having the funds limits your player movement, which will appear to the fan base as a "lack of inertia" or an apathetic attitude.
FRUSTRATING for sure!
In my growing - up years, my family lived in a rent-controlled apt in the Bronx. When any residents complained about what the landlord did or did not do, the answer was "if you don't like it, move".
ReplyDeleteIf a shop at a local store, or eat at a restaurant, and I'm unhappy, I shop or eat elsewhere. I don't boycott or demand that the owners sell, I just switch.
Why don't those who hate "our" team so much just switch to the other team here, or any other team?
Like them, love or hate them, the Wilpons aren't selling. There are things I'm unhappy with about the Mets. I stuck with them in the "Dark Ages" of the M Donald Grant years, the heights of the 80s, and the ups and downs since them, including the "Worst Team Money Could Buy" version.
I never felt as negative as some here, but if I did, I'd cross the river or go even further (maybe L. A., where my "original" team now plays).
Banging my head against a wall doesn't hurt the wall.
Hey Bill, I don’t hate the Mets.......quite the opposite, actually. I have been a fan for a long time, usually through more bad then good. All I want is for the team to have a fighting chance and that seems remote if Sandy doesn’t have the cash to invest in the roster.
ReplyDeleteIf the Wilson’s start investing more in the team, I would be cool with them staying. I am skeptical, however.
I'd like to see them spend more, too, and it's unfortunate that so many fans/media seem to have forgotten that their (actually, Fred's) history is one of high payrolls, including the infamous 1993 and 2003 disasters.
ReplyDeleteBut unlike some fans here and elsewhere, I freely admit ignorance about the financial status of the team. I don't know what residue is left from the Madoff mess, how much was spent on the Cyclones or to purchase the Syracuse team. Or how much is involved in developing the Belmont site.
And I don't claim to be a mind reader and know what they think. If Fred was "irate about the Yankees getting Stanton", who was the target of his anger?
Without that knowledge, I can't jump into criticism. I root for the team and hope for the best, just as I do when I buy tickets for a show or look at the menu of a restaurant. I leave the operations to the professionals.