Showing posts with label 25% of Club. Show all posts
Showing posts with label 25% of Club. Show all posts

Tuesday, March 22, 2011

Former Goldman Sachs Execs lineup for a piece of the Mets


The NY Times lists the candidates approved by baseball to look at the Mets’ records — three of whom have personal connections to Goldman Sachs, which has deep ties to the Yankees — include:
  1. David Heller, the global co-leader of the securities division at Goldman, whose group includes Marc Spilker, a former senior Goldman executive who is now the president of Apollo Global Management, a large private equity fund. Heller’s group was the first to see the Mets’ records.
  2. Steven Starker, a co-founder of BTIG, a global trading firm in which Goldman has a minority ownership. His consortium includes Kenny Dichter, a co-founder of Marquis Jets; Doug Ellin, the creator of the HBO show “Entourage”; and Randy Frankel, a minority owner of the Tampa Bay Rays.
  3. James McCann, the founder of 1-800-Flowers.com, which is a Mets sponsor, and Anthony Scaramucci, a former Goldman executive who runs the hedge fund firm SkyBridge Capital.
  4. Marc A. Utay, managing partner at Clarion Capital Partners, a private equity firm, and Leo Hindery, the first chief executive of the YES Network, who is a private media investor. From 2008 to ’09, they mounted an unsuccessful bid for the Chicago Cubs. (Goldman is part-owner of YES.) 
Over the next week to 10 days, five to eight possible bidders for a minority stake in the Mets will take a first step to making an offer by examining the team’s financial records.  The Mets have been asking for $200 Million for the 25% share.

Thursday, March 10, 2011

Mets Worth $1.3 Billion??


Despite the financial turmoil engulfing the franchise, the owners of the New York Mets believe their baseball team is worth a whopping $1.3 billion.

According to the New York Post, the Mets believe an effort to raise $200 million in exchange for a 25% stake will result in a valuation just shy of the $1.6 billion price tag placed on their arch-rivals, the New York Yankees.

The math would go as follows: $200 million sale price, multiplying it by four and adding the team’s $500 million debt load, the paper reported.

“It’s beyond absurd,” one source told the Post.

Tuesday, March 08, 2011

Might be a Mets Flower-Night in the Future?


A group of investors has expressed interest in buying a 25 percent, non-controlling stake in the New York Mets.


The lead investor is James McCann, the founder and chairman of 1-800-Flowers.com — a company that happens to be a major sponsor of the New York Mets.

Oh, and McCann's own spokesman describes him as "a very close friend of Fred and Jeff Wilpon."

According to New York Times, a group led by McCann has asked Major League Baseball for permission to see the books, the first step in a possible "friendly" investment in the club.

Experts have long considered it unlikely that any rational investor would buy such a large stake in the team, while the Wilpons continued to insist that they would not give up control. But apparently, they just needed to ask the right friend.

The Mets and 1-800-Flowers.com have something else in common: The bulb company lost $4.2M last year.

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