Wilpons are Schmucks

The owners of the Mets may consider themselves longtime businessmen but they’re clearly terrible at conducting business. 

Didja hear the latest? The Mets need another emergency loan. Not the one we learned about last week — this is an entirely new bailout. An emergency injection of cash to help make payroll.

This is merely the latest in an alarming series of shady Met money moves. The bank doesn’t even want to lend the money but its gonna happen thanks to Selig and his his old boys network.

BMF is no businessman but it sure does feel like this franchise is about to slip away from the Wilpons.

According to the Post the Mets lose 50M / year. The Wilpons have been ponzi’ed twice in a decade. Seems to me they only people who get caught up in a ponzi scheme twice are either suckers or crooks - neither of which do I want owning the Mets.

On Field Good News:
• Niese posted 3 innings allowing two hits with 2 K’s. This kid could really pop this year.

• Pedro Beato, Manny Acosta and Parnell allowed 1R on 5H in final 4 frames. Bea-to! Bea-to!!…

• Fernando Martinez picked up 2 more hits — a quick start to spring — BMF is dying to get hyped about this kid again 

14 Responses to “Wilpons are Schmucks”

  1. Fort Greene Met Fan Says:

    Your headline made me laugh out loud, BMF. Well done.

  2. cleonjones Says:

    Cut Ollie and Castro !!!!!!!!!!!

  3. Matt the Met Fan Says:

    IF BMF is right - because I don’t understand how Chase or any financial institution would lend any business that loses $50M a year a penny - and MLB steps in .. this will not make a lot of his co owners really happy …

    Wouldn’t it be funny if the Debts .. I mean the Mets - went to Citibank and asked for a loan? and they would say “what did you do with the $400 million we gave you for the naming rights to the stadium?” BTW, what happens to the City bonds if the Mets do go under? interesting article on that :

    http://blogs.villagevoice.com/runninscared/2011/02/if_mets_go_unde.php

    Man I need some Spring Training news ! Where are you Florida Met fan Rich! You’re the only optimistic one here: Give me something other than the words “Ponzi” or even “Wilpon” !!
    I keep hoping Fmart turns into Carlos Gonzalez!! and Isringhausen (BMF - please a post on Izzy !!) turns into, well, Isringhausen circa 2004-05?

    Coop, going to opening day? anybody?

  4. Fort Greene Met Fan Says:

    I want to go to opening day. Last year was the first time in my adult life I didn’t go, and it was depressing. I even have a BRICK outside that says opening day is a tradition for me and my Mom!

  5. IrishMike Says:

    This is why it seems insane to me that someone or some group of people would consider buying a “minority ownership” share. The point of doing that is to sink in ~$200 million and then start getting back a 25% share of the Mets profits which eventually provide a return above and beyond your initial $200 million. In this case however that initial $200 million is handed directly over to lawyers, Madoff “victims” and God knows who else. But after that you get 25% of the team’s profits! Estimated 25% share of Mets profits over the next five years - minus $50 million! Sign me up for that deal.

  6. Fort Greene Met Fan Says:

    I’m no financial expert, but these clowns do not seem like good business partners.

  7. CowCrusher Says:

    Jerry Seinfeld, how about a “comic relief” show to get some cash in the till!?

  8. The Coop Says:

    Who wants to do a Blondie’s get together for the Road Opener on April 1??? BMF, hook it up!!!

  9. ProfessorReyes Says:

    Happy Birthday Kevin Burkhardt!!

  10. Fort Greene Met Fan Says:

    I do I do!! Drinks with Da Coop!

  11. USMF Says:

    It’s looking more and more like the inevitable sale of team is gonna happen…and I mean 100% of the team and SNY. I know, I know…you all are devastated…Like I’ve said in the past, don’t assume that a new owner will be better than Wilpon. Trust me, Fred looks really bad now, but it could absolutely be worse.

    At least Fred want’s to win, he tries…he trusted some people he shouldn’t and kept people longer than he should of, but he want’s a winner more than he want’s a profit. You can’t say that about every owner…if fact, most pro-sports teams are run to make money, not to win. Sadly, you don’t even need to compete to make money.

    Look at the Pirates and the Marlins, they spend almost nothing and they barely compete. But reading the leaked financial reports, these teams are making a ton of cash, MLB even fined the Marlins because they cooked their books to get more revenue sharing than they should have.

    Look at the Twins and the Padres, both teams are successful and compete in their division, but the owners will never spend that extra dollar to get them over the hump and let them compete in the PS. The Twins owner is one of the wealthiest owners in baseball, but yet he’ll continue to let his star players walk via FA and will never add a star player.

    A new owner may be happy just to make profits…imagine a world that Wright, Reyes Pelf all will be gone once their contract is up. A world that means that we’d never even be in the mix to get a Santana, Bay, K-Rod, Piazza, Beltran, Delgado or Pedro…Now I know you guys, it’s not like the Mets have a great record for getting decent return on FA’s. But image this, this off season sucked because Sandy did nothing but shop the bargain bin, that could be the Mets every year.

    But then again, the new owners could keep/increase payroll and invest in proper young talent and turn the Mets into the Patriots of baseball.

    Now I don’t blame the Fred for not being completely honest about the financial stability of the franchise. What’s he gonna say, um…we got robbed and now we can’t pay the bills…? Any company is gonna say that everything is alright up to the bitter end. And despite popular belief, Fred doesn’t owe you or me any explanation about anything.

    Now from what I’ve gathered, Fred will have to pay Picard $80mil (I believe) for all the profits he made from Madoff. Now Fred will probably have to pay the losses for all the accounts he held/managed, I can’t remember how much that would be…Now Picard want’s a ton more than what Wilpon is legally on the hook for. If Picard can convince the court that Fred knew something wasn’t $100 legit, than that’s where the extra $220mil comes from Unfortunately for Fred, it’s up to him in court to prove he’s innocent…if there was any real proof of Fred doing something wrong, he’d be sitting in a cell next to Bernie.

    With the $300mil the Picard wants plus lawyers fees, the $500mil Wilpon lost from Madoff and add in down real estate profits, money borrowed and invested in building City-Field and creating SNY, I can see Fred being a Billion in the hole and I don’t see how he can keep majority ownership of SNY and the Mets.

  12. The Coop Says:

    FGMF! Woooooo! BMF, let’s do this thing! MtMF…you better be there! You too IrishMike!

  13. Florida Met Fan Rich Says:

    ^ Matt the Met Fan: I took a Met sanity off day today! Can’t handle to many losses in a row this early in the spring….Went to the Nats/Marlins game….Break up the Nats they are 3-0!…Looks like they are playing like they don’t want to be pushed around anymore.

    I am with BMF! F-Mart looking real good out of the gate. It looks like he has a new swing. Niese looked really sharp and really like Pedro Beato and think he will make the team.

    I do want to see some inspired play from this team IN SPRING TRAINING!!…so it carries into the season, so far…same old Mets!

    “Never let the Mets ruin a good beach day.”

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