The Son Rises…..

Mets COO Jeff Wilpon

Mets  COO Jeff Wilpon met the press yesterday at their spring training facility in Port St. Lucie for the first time since the $1.0 billion lawsuit became public. As you’d expect, most of the talk centered on the potential sale of a non-controlling interest in the club.

Wilpon adamantly stated that his family would not relinquish its eight-year majority ownership of the club. “That’s it,” he said. “We’re not giving up control.”

Wilpon went on to say that the lawsuit would have no effect on the club’s day-to-day operations and the current payroll of $140-$150 million would have the flexibility to increase or decrease as needed to remain competitive.

“…we’re going to be committed to make sure all the resources are here and continue to run this team the way it’s been run,” he declared.

That needs a rewind…..” we’re going to be committed to make sure all the resources are here and continue to run this team the way it’s been run.”    Sorry Mets fans, but that’s about the worst news you could get. 

 I think Jeff Wilpon’s COO track record is pretty darn thin… attendance at the park continues to shrink,  ticket prices have been cut 14% this season following a larger reduction last year and revenues are falling just as fast.

This recent New York Times piece, written by columnist George Vecesy, seems to summarize the way things run inside Mets corporate office over the last few years….  http://www.nytimes.com/2011/02/05/sports/baseball/05vecsey.html?scp=4&sq=Mets%20we%20didn’t%20know%20%20%20%20&st=cse

….and it makes me wonder…self-made working stiff that I am….If Daddy didn’t own the team, would Jeff Wilpon still have his gig?

 THE LAST BITE

Today’s New York Post reports that the banks with outstanding loans to the Mets…..JP Morgan Chase, Bank of America and Citi….. are attempting to sell that debt at 90 cents on the dollar. Hmmmm, the inside guys don’t like their chances and are willing to take a haircut to be safe.  What does that say?

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About balleehoo

Happily married to Patty and helping to raise two kids...Kat (23) and Kevin (21). Who is luckier than me?
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