SBD/March 18, 2011/Franchises

MLB Approves At Least Three Groups Interested In Bidding On Mets

MLB has "approved at least three potential bidding groups" looking to buy a stake in the Mets, according to Kosman & DeCambre of the N.Y. POST. Sources indicated that the groups include one led by Goldman Sachs Global Securities Division co-Head David Heller and Apollo Global Management President Marc Spilker, and another with BTIG co-Founder Steve Starker and Marquis Jet co-Founder Ken Dichter. Sources said that "at least one or two additional bidders have also been passed along" to MLB Commissioner Bud Selig and "could be cleared to bid for the team." The approved groups are "expected to meet next week with Allen & Co., where they will get to see confidential financials of the team and quickly begin the process of deciding whether to actually make an offer." The sale process is expected to be "all but complete by June 30." Sources noted that bidders are "likely to insist on protections on their investment," including a "guarantee that the minority stake would be increased if the group were asked to pump more money into the team down the line, and to overall payroll minimums so the owners do not cut costs too far" (N.Y. POST, 3/18).
Return to top

Related Topics:

Franchises, New York Mets, Baseball

Video Powered By - Castfire CMS Powered By - Sitecore

Report a Bug