After negotiations with hedge fund manager David Einhorn for a minority share of the Mets fell apart in September, the team indicated that it would raise $200M "by selling 10 limited partnership units, or shares, in the Mets for $20 million apiece," but 10 weeks later, the plan is moving "slowly," according to Richard Sandomir of the N.Y. TIMES. Sources said that "none of the units have been sold." The sources added that there are "strong buyer commitments for as many as seven of the shares." However, until there are "equally firm offers for the other units, it is possible that none of them will be sold." Mets COO Jeff Wilpon earlier this month said that the team "had an 'internal timetable' for completing the sales that it was not going to share with the public." Sandomir notes if the Mets "are successful in finding buyers for all 10 units, there is talk they could even sell two more, raising their take to $240 million." But for the "moment at least, the large cash infusion that the Mets have needed since early this year remains out of reach." The slow progress comes as the Mets "contemplate how much they might be willing, or able, to spend to keep the free-agent shortstop Jose Reyes in a Mets uniform." In addition, MLB "has been waiting patiently for the Mets to get a handle on their financial problems." The team "still owe baseball $25 million that they borrowed a year ago, when they had a cash shortage." They were "told to repay the loan by the end of June, when, they presumably believed, they would have the $200 million in hand from Einhorn." They have now been "delinquent for more than four months, but baseball has not chosen to respond by deducting any of the Mets’ share of national income from such revenue sources as television and licensing" (N.Y. TIMES, 11/17).
NIFTY FIFTY: The N.Y. TIMES' Sandomir reports the Mets held a press conference yesterday at to kick off their 50th anniversary campaign, and the team's '12 uniforms will "pay tribute to the team’s original look, with the black drop-shadows removed from the letters and numbers." There also will be a new logo, which still features the N.Y. skyline but has the "word 'Mets' and the silhouette of the bridge replaced with a large '50th' and with the word 'Anniversary' in a ribbon." Other plans "include the restoration of Banner Day, a bedsheet extravaganza that hasn’t been around since 1996; a bobblehead-a-month promotion that will feature Mets stars of each decade; and the creation of a Web site -- Mets50.com -- that will allow fans to post photos and words that illustrate their Mets memories, with one grand-prize winner receiving a pair of season tickets" (N.Y. TIMES, 11/17).
MEET THE METS: MLB.com's Jane Lee reported the Mets Tuesday "introduced a handful of new ticket plans for the 2012 season that will offer fans more choices when choosing games, seats and price points." Four 20-game plans "are available to fans." Two "consist solely of Friday, Saturday and Sunday games and select holidays, and two other plans offer an assortment of weekday games, with the same seat guaranteed for all games in each plan." The Mets in '12 also will debut "the 15-game pack." One "marquee game -- Opening Day or one of the Subway Series matchups against the Yankees -- will be made available to fans who choose 15-game packs, which will include 14 games from any remaining on the schedule" (MLB.com, 11/15).
REYES OF LIGHT? SS Jose Reyes is a free agent after spending his first nine years in the majors with the Mets, the N.Y. Daily News’ Andy Martino said, “If another team blew them out of the water with a huge offer, sure, it would be easier for the Mets to say to their fans, ‘Hey, what can we do? We're not going to go crazy and re-sign him at all costs.’" However, with a "lack of serious suitors at the moment, I don't know if they're going to have that luxury." Martino: "If Reyes stays around the six-years, $100 million area with the offers that he’s getting, it's going to be much tougher for the Mets to convince their fans that it’s okay for them to not do” (“Daily News Live,” SportsNet N.Y., 11/16).
