A Wall Street buddy of mine (Alex S) had an interesting suggestion last night: why don’t the Mets sell part ownership of their franchise to the fans ala the Green Bay Packers or the Cleveland Indians? CLE was partially fan owned for a period of time.
BMF is far from a financial expert and I certainly don’t claim to know how this would be structured but it sure does sound like a good idea.
The way I see it 2 main advantages of this concept for the Wilpon’s would be:
• This is likely the only way on earth the Wilpons can get an investor(s) to inject over 200M and not give away decision making power
• If the Mets were in part owned by their fans it would change the way the fans feel about ownership for the better not to mention the Mets would be infinitely cooler than the Yankees.
I don’t know would you buy a piece of the Mets if shares were in the $350-500 range?
Maybe everyone hates the Wilpons so much they wouldn’t help bail them out of their latest ponzi scam?
Knowing the Mets they would offer shares of the team and run into the embarrassing problem of not selling out. I mean they’re still sitting on something like 10K Shea seats aren’t they?