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SBD/November 5, 2013/Franchises
Published November 5, 2013
STEVIE FRANCHISE: In N.Y., Richard Sandomir reports SAC Capital Advisors yesterday "agreed to plead guilty to insider trading violations and to pay a record" $1.2B penalty. SAC Founder and Mets investor Steven Cohen "has not been personally charged by the government, but he has been tainted by the conduct of his company." Cohen paid $20M in '12 for one of 12 minority partnerships in the Mets, and Sandomir wonders if Mets co-Owners Fred Wilpon and Saul Katz should "push Cohen to sell his sliver" of the team. A majority owner is "of more concern to baseball than a minority partner, like Cohen, who has little power over a team’s direction" (N.Y. TIMES, 11/5).
UNHAPPY FEET: In N.Y., Frank Isola cites a source as saying that Knicks Owner James Dolan has "become such a hands-on owner -- figuratively speaking -- that he doesn’t want" the Knicks City Dancers dancing. Isola: "Crazy, right?" The same person who "wanted creative input on the dancers’ outfits (and he’s good at it) apparently ordered that the girls’ roles be reduced to mostly throwing T-shirts into the crowd" during the T'Wolves-Knicks game on Sunday. The dancers "performed maybe one routine" (N.Y. DAILY NEWS, 11/5).