The sale of a minority stake in the Mets "likely will be completed by the end of this month," according to a source cited by Adam Rubin of ESPN N.Y. An announcement "could come before June 1." Four groups are "believed to have made the final cut, from among the eight who originally submitted non-binding bids." The source said at this point, "It's really just negotiating a deal." The Wilpons believe that they "will raise $200 million from the sale of the minority share, which would go toward paying off a $25 million loan from Major League Baseball received in October, as well as a reported $22 million stadium bond payment due in June." Rubin noted the Wilpons still do not "intend to bring in a partner who will oust them someday as majority owners without their consent." A source said, "Non-controlling means non-controlling. Nothing has changed on that" (ESPNNY.com, 5/3).
COMPARING APPLES AND ORANGES: In N.Y., Thompson & O'Keeffe report MLB Commissioner Bud Selig "does not believe the Mets are as in bad shape" as the Dodgers, and "apparently the investment groups interested in purchasing a minority share agree with him." The Mets are "struggling on the field and at the box office," but sources indicated that team Owner Fred Wilpon's "potential partners believe the club will be able to turn things around quickly." The investment groups believe that GM Sandy Alderson "will build a competitive team within two or three years; an improved club means increased attendance, television ratings and revenue." Sources said that a group led by SAC Capital Advisors Founder Steve Cohen "appears to be the leader, followed by a group" led by Skybridge Capital Managing Partner Anthony Scaramucci and 1-800-Flowers.com Founder James McCann (N.Y. DAILY NEWS, 5/4). Baseball analyst Steve Phillips, who served as Mets GM under the Wilpons from '97-'03, yesterday said it is "unlikely" MLB will assume control of the Mets like it did with the Dodgers because "there is a difference between" the two teams. Phillips: "For the Mets, this is a new revelation. They have been in compliance with all of baseball's rules and now they're working toward getting back in compliance." He added, "They're going to bring in a partner who will not have control. He may have a seat on the board of directors, but total control will still remain with the Wilpons and I think they're going to find investors willing to do that" (Fox Business, 5/3).
PAYING TRIBUTE: In N.Y., George Vecsey notes in a "tasteful gesture to American troops in the wake of the mission against Osama bin Laden on Sunday night, the Mets' management decided Monday morning to invite military personnel" to attend last night's game against the Giants at Citi Field. USO volunteer Steve Castleton: "Four thousand tickets in 36 hours." The Mets "played it low-key Tuesday, as five service members in uniform threw out the first ball." There was a "modest military presence in the ballpark, which was still fairly desolate, despite the ultimate announced attendance of 32,288" (N.Y. TIMES, 5/4).
