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SBD/March 3, 2011/Franchises
Mets Owners Could Face More Charges If They Fail To Settle Madoff Suit
Published March 3, 2011
HELP IS ON THE WAY? On Long Island, Steven Marcus cites sources as saying that the Mets "could get financial help" from MLB, "if needed, before a partial sale of the club is completed." The team borrowed $25M from MLB in November "to cover operating expenses." A person monitoring the team's efforts to sell a minority stake in the franchise said, "There may be a 30-day period before a deal is closed where funds (from MLB) could be advanced. That would then be repaid with funding from the (new) partnership." A source indicated that MLB "will evaluate any future Mets loan request on a circumstantial or case-by-case basis, as would be the case with any team" (NEWSDAY, 3/3).
IN THE ON-DECK CIRCLE: In N.Y., Lattman & Sandomir reports a group that includes Rays investor Randy Frankel "has shown interest in buying a share of the Mets, becoming one of about a dozen serious investors to emerge." Along with other interested bidders, the group "has paid a nonrefundable $25,000 application fee to Major League Baseball for permission to see the Mets’ financial records." Global trading company BTIG co-Founder Steven Starker "is the main investor in the group," which also includes Frankel, Marquis Jet co-Founder Kenny Dichter and Doug Ellin, creator of HBO's "Entourage." Sources said that Frankel "would sell his share in the Rays should his group’s bid for the Mets be successful." A source indicated that another investment group led by SkyBridge Managing Partner Anthony Scaramucci "has also submitted an application" to MLB. Contrary to reports, Scaramucci's group "does not include" former Mets manager Bobby Valentine (N.Y. TIMES, 3/3). Scaramucci said, "I'm not going to confirm or deny what's going on in the paper. But here's what I will say: I think that the press has been horrific to my very close personal friends, the Wilpon family. They've been unfair. They've mischaracterized what's gone on with them, and I think in the coming weeks we're going to see some really good news as it relates to the Wilpon family" ("The Strategy Session," CNBC, 3/2). Meanwhile, Mavericks Owner Mark Cuban yesterday said that he is "not involved with any of the groups that have filed paperwork" with MLB to view the Mets' books (NEWSDAY, 3/3).