Why Don’t Mets Sell to Fans?

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?

17 Responses to “Why Don’t Mets Sell to Fans?”

  1. Matthew Cerrone Says:

    Why? Because they’re going to need more cash than that. Also, it’s a business, and so - if they sell out - there will be a private owner or group willing to pay more than a group of fans in a non-profit cooperative like the Packers. Plus, I believe MLB has rules (like the NFL does now, post-Packers) that limit the number of owners any one team can have (in the NFL it’s 32, I suspect MLB is similar).

  2. JJ Says:

    Because the fans are too smart to get into this mess with the Wilpons…

  3. Paul Says:

    I don’t think a sale of shares to fans could bring in $200 million - if you priced shares at $400, you’d need to sell half a million to meet the goal.

  4. Original62Fan Says:

    Yes. Shares would/should be $350,000 - $500,000 each. And you should get a seat behind home plate. I’ll buy two shares.

  5. Matt the Met Fan Says:

    I have $6.50 in my pocket …

  6. Florida Met Fan Rich Says:

    “Contraction” is the answer!…Let the team fold and lets get a new expansion team and move the tean to Brooklyn and build a new stadium.

    We would probably win a world series quicker than the rate we are going now!

    We can call the the Made-offs, as Madoff with your money!

  7. Fort Greene Met Fan Says:

    BMF, what’s up with your recent obsession with the “coolness” of our team? Who cares? I don’t think anyone who is still a Met fan at this late date gives a crap about being cool. I really don’t care about the Yankees or some high school stratification of baseball fans into the in crowd, The nerds, etc. I care about BASEBALL. The game.

  8. edward r. olbermann Says:

    ““Contraction” is the answer!…Let the team fold and lets get a new expansion team and move the tean to Brooklyn and build a new stadium.

    We would probably win a world series quicker than the rate we are going now!”

    I’m assuming you are joking, but that thought/fear has crossed my mind.

    It would never get so bad that MLB just asks the Mets to move and let a new team be the NL rep in NYC…right?

    RIGHT?

  9. Met_Maven Says:

    Instead of talking about things that will make the team cool, lets all laugh at this clip of Fatcesa on the FAN rambling and making no sense.

    http://sportsnetny.tumblr.com/post/3211063824/this-is-the-most-quintessential-francesa-clip

  10. CowCrusher Says:

    Was listening to the Schmooze and somebody used the term “Wilpon-Zis” to describe fred and jeffy.
    Thought it was worth a chuckle.

  11. ProfessorReyes Says:

    the schmooze is always good for a chuckle at some point, even when he’s depressed…

    I’m just happy they haven’t raised the price for mlb.tv….have never had it, but considering it for this year as we have a ps3 now and a great bravia. We’re going to miss a lot of games with the hs schedule, is mlb.tv worth it?

  12. ProfessorReyes Says:

    p.s. no I wouldn’t buy a share.

  13. Met_Maven Says:

    I think fans would buy a share as long as the price isn’t too high. For them to get the money they need, your average fan wouldn’t be able to afford it. I’d probably shell out a couple of hundred bucks to own a part of my beloved Mets, but I have a better chance of watching OP throw a perfect game than that reality coming to fruition. Can’t wait till spring training starts and we can talk about the on field antics rather than the off field garbage!

    Let’s Go Mets Go!

  14. CowCrusher Says:

    I am going to be dropping my digital Time Warner account. Going to miss SNY and the Food Network, so MLB.com might be an option. Any input from the BMF “peanut gallery” is appreciated.

    “I want my two dollars!” - from “Better Off Dead”

  15. USMF Says:

    I’ve been thinking about dropping TW digital too…Overall I like TW, but money is tight these days.

    Right now, I have a PC that runs directly to my HDTV and I get full 1080P. You need a computer that has a HDMI or DIV connection or it’s not worth it.

    I have a buddy that is a Cubs fan and because the WGN signal sucks, he buys the MLB.com package and says the picture is great. The 720P they “deliver” is just as good as anything TW will give you. Plus they got a lot of cool features like DVR and listening the Radio broadcast instead of the TV announcers (added bonus for those FOX games).

    If you stick to basic cable, TW sends us (in Rochester) our local HD channels. Plus, most of programing you can find online for free (a day after original broadcast) A lot of it is in HD.

    For $600, I could build you a small but fast PC that can connect to your TV, Watch Internet TV, watch normal (air/cable)TV that work as a DVR, play games and plays DVDs. For an extra money, I could make it play Blueray.

  16. ProfessorReyes Says:

    If I could get a decent air signal I’d try this:
    http://www.washingtonpost.com/wp-dyn/content/article/2011/02/04/AR2011020407841_2.html

  17. CowCrusher Says:

    USMF,
    thanks for the info, I appreciate it.
    Yeah, I have a Mac Mini that I plan to use as a server and then have a new HDTV run through it as a “monitor”.
    My old tube TV is still working so I’ll hold off til then.
    Blue Ray is not compatible with Mac’s but a decent 3rd party DVD player can do the trick., so I am told.
    TW is charging about 90 bux/mont (taxes and PSC charges)for non HD digital cable… by saving that amount, I could probably have a decent TV in about 9 months.

    and the other 3 months of savings would pay for a “share” in the Mets!!!

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