Cablevision "is reportedly nearing a deal to pay" $400M
for an 80% stake in the Mets, which would give the team a
total value of $500M and "make the transaction the most
lucrative ever" in MLB, according to Harry Berkowitz of
NEWSDAY. If the Mets' deal goes through and Cablevision
"makes a winning bid for the Jets," company Chair Charles
Dolan would become the first owner of four pro teams.
Former Marquee Group President Bob Gutkowski, on
Cablevision's strategy: "They own the distribution. Now
they want to get as much control over the programming as
they possibly can get." The Mets and Yankees both have
cable deals with the MSG Network and FSN NY. Pilson
Communications President Neal Pilson said that a Cablevision
acquisition of the Mets "makes it a little harder for the
Yankees to market their rights but increases the likelihood
that the Yankees would partner with a Cablevision
competitor" (NEWSDAY, 6/27).
BUSINESS AS USUAL: If Cablevision's $400M deal for the
Mets is completed, "it won't drastically change the way the
[team does] business," according to Pat Borzi of the Newark
STAR-LEDGER. But Borzi wrote that the Mets will then "have
no financial excuse for not being one of the five best teams
in baseball." Braves GM John Schuerholz: "They're already a
big-market team. They've already got a robust operating
budget. I can't speak to (the sale), but I imagine it's
going to be even more robust." Meanwhile, Borzi noted that
buying the Mets will cost Cablevision less than paying for
their TV rights when the team's contract with FSN NY expires
in 10 years (Newark STAR-LEDGER, 6/27).
REAX: In NJ, John Rowe wrote that a "good reason" the
Mets want to sell to Cablevision is that the team "expects
to lose as much as" $10M this season (Bergen RECORD, 6/27).
Mets C Mike Piazza, on the potential sale: "I was going to
make a bid. See if some of the other guys would chip in
their meal money" (BOSTON GLOBE, 6/27). In N.Y., Phil
Mushnick: "One of the most understated dangerous side
effects of Cablevision's local sports monopoly is that
Cablevision controls an ever-increasing number of
sportscasting jobs. ... For a New York-based sportscaster to
look cock-eyed at Cablevision in public, no matter how
warranted that look, is to get risky with one's employment
options" (N.Y. POST, 6/28).
