Wilpon Family Members For Years Had Issues With How Jeff Ran Mets
The Mets under the ownership of the Wilpon family had "periods of success, but also dysfunction, intense rivalries among relatives and a financial crisis that, for a time, threatened much of what the family had built," according to Waldstein, Draper & Wagner of the N.Y. TIMES. Some family members grew "increasingly wary" of Mets COO Jeff Wilpon being in charge of the family's "most valuable heirloom." Tensions between Jeff Wilpon and his relatives had been "brewing for years," as some of them "questioned his choices behind the scenes." Former team execs said that the organization "changed philosophies from year to year, and sometimes from month to month." Sources said that the Mets have lost more than $60M in "each of the past two seasons, as the team struggled to attract fans." Also, they are at the "limit of debt allowed" by MLB rules (N.Y. TIMES, 12/7).
NOT EXACTLY A WHITE KNIGHT: In N.Y., Phil Mushnick wondered if Mets fans are "supposed to be giddy" that hedge fund billionaire Steve Cohen "might come to their rescue." Cohen's now-closed SAC Management Companies once paid $1.8B in "fines for insider trading" and another $135M to "settle a class action suit." The idea that "such a businessman could receive consideration, let alone approval, to own a majority or minority stake in an MLB franchise is far more disturbing than surprising" (N.Y. POST, 12/8).