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 Post subject: Re: Cohen increases Met investment (80%)/ Wilpons out by 202
PostPosted: Thu Apr 30, 2020 10:24 pm 
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Ciarán wrote:
Aren’t the rich supposed to get richer during this pandemic?

Maybe the Wilpons are the exception


Rich get richer is a soundbyte and not very accurate. Almost nobody, outside of companies that sell masks or make ventilators, and perhaps, companies like Amazon that can increase their margins, are making money during this crisis. I'm willing to be that Fresh Direct is making a killing during the virus, and we need Fresh Direct right now, so I'm not begrudging them that. The company that develops a vaccine might turn a profit too, but arguments could be made that they earned that profit as well. The tennis minds behind the US open saw the risk of this kind of thing and bought insurance for it, so they came out just fine. No losses at all, I imagine.

Cohen, I read a while back, has lost money during the virus. I read his net worth was down like 20% but at the time, the Market was down about 30%, so the losses depend on how one is invested, the loses are also, often, temporary if we assume there will be a recovery. The Wilpons, for example, might show a net zero profit or even a loss this year, with the loss of attendance and adjustments, and that's bad for them, but they, like many others, will probably get extensions on any loan payments that are missed. If I was to guess, I'd guess that the long term profits and value of the Mets won't change that much. It's probably smart of Cohen to offer a smaller number now, but I don't think the Wilpons will bite. In the long run I don't think the value of the Mets will be affected - just a guess.

What I think what the "rich getting richer" means in times like this, is that, they're often in a better position to take advantage of a down market and re-invest while many other investors are sitting on losses or just trying to get by. They can come out ahead or increase their positions, or set up tax write-offs for years to come (I think Trump did that, that's why he didn't pay taxes for several years), but most aren't richer at present. Airlines are threatened with bankruptcy. Hertz rent-a-car, a pretty stable company, is on the verge of bankruptcy as well.

Also, not to get too political, but there are arguments that a Jarred Kushner owned company profits from corona virus testing because he's connected, which a journalist might call "the rich getting richer", but politifact only gave the story a "half true" rating. It's easy to get outraged over stuff like that, but I lean towards the politifact version as more accurate.

https://www.politifact.com/factchecks/2 ... virus-tes/

Hotels everywhere are shut down and that can't be good for Trump, though he may get a bailout along with other hotels . . . and maybe he's even entitled to that. (open for debate at least, I think).

Will people travel less, even a year or three from now, because of the virus . . . maybe. Will people go to fewer baseball games? I don't think so. I don't see baseball being long term effected, but maybe it will be. Hard to say.

Sorry if that got a little too long or political. I tried to write it in a balanced way.

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 Post subject: Re: Cohen increases Met investment (80%)/ Wilpons out by 202
PostPosted: Fri May 01, 2020 1:35 pm 
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Mogriffjr wrote:
https://twitter.com/sotoc803/status/1255961437035528194?s=21

Wilpons blew this trying to keep control...now they may not get half of the Cohen deal unless they somehow get him back in the fold at a lesser price, maybe at 2 billion or something. Couldn’t have happened to better people.


This is why I think we are in for at least another decade of Jeffy. There is absolutely no way that the Wilpons will sell the team for a deal that is half of what they could have had six months before.

Call it hubris if you want, but no one wants to be known as the guy that lost a billion dollars, even if they end up walking away with a 1000% return on the original investment. All that pettiness, meddling, etc. that they have displayed over the past two decades is a clear indication that they would rather go broke and have the team torn from them, rather than suffer the public humiliation of taking a lesser deal.

It's almost better for us if MLB never comes back.

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 Post subject: Re: Cohen increases Met investment (80%)/ Wilpons out by 202
PostPosted: Fri May 01, 2020 2:17 pm 
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Disco Ball wrote:
Mogriffjr wrote:
https://twitter.com/sotoc803/status/1255961437035528194?s=21

Wilpons blew this trying to keep control...now they may not get half of the Cohen deal unless they somehow get him back in the fold at a lesser price, maybe at 2 billion or something. Couldn’t have happened to better people.


This is why I think we are in for at least another decade of Jeffy. There is absolutely no way that the Wilpons will sell the team for a deal that is half of what they could have had six months before.

Call it hubris if you want, but no one wants to be known as the guy that lost a billion dollars, even if they end up walking away with a 1000% return on the original investment. All that pettiness, meddling, etc. that they have displayed over the past two decades is a clear indication that they would rather go broke and have the team torn from them, rather than suffer the public humiliation of taking a lesser deal.

It's almost better for us if MLB never comes back.


What makes me less concerned is the fact they've piled up so much debt they may no longer have a choice as to whether to sell, it's only a question of how much time they have. This is already the first time they've initiated offers on the team as it is.


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 Post subject: Re: Cohen increases Met investment (80%)/ Wilpons out by 202
PostPosted: Fri May 01, 2020 2:25 pm 
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AllWrightNow wrote:
Disco Ball wrote:
Mogriffjr wrote:
https://twitter.com/sotoc803/status/1255961437035528194?s=21

Wilpons blew this trying to keep control...now they may not get half of the Cohen deal unless they somehow get him back in the fold at a lesser price, maybe at 2 billion or something. Couldn’t have happened to better people.


This is why I think we are in for at least another decade of Jeffy. There is absolutely no way that the Wilpons will sell the team for a deal that is half of what they could have had six months before.

Call it hubris if you want, but no one wants to be known as the guy that lost a billion dollars, even if they end up walking away with a 1000% return on the original investment. All that pettiness, meddling, etc. that they have displayed over the past two decades is a clear indication that they would rather go broke and have the team torn from them, rather than suffer the public humiliation of taking a lesser deal.

It's almost better for us if MLB never comes back.


What makes me less concerned is the fact they've piled up so much debt they may no longer have a choice as to whether to sell, it's only a question of how much time they have. This is already the first time they've initiated offers on the team as it is.

Yeah, it might not be their choice. Could be MLB strongly suggesting it, too.


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 Post subject: Re: Cohen increases Met investment (80%)/ Wilpons out by 202
PostPosted: Fri May 01, 2020 7:25 pm 
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Legend of NYFS

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AllWrightNow wrote:
Disco Ball wrote:
Mogriffjr wrote:
https://twitter.com/sotoc803/status/1255961437035528194?s=21

Wilpons blew this trying to keep control...now they may not get half of the Cohen deal unless they somehow get him back in the fold at a lesser price, maybe at 2 billion or something. Couldn’t have happened to better people.


This is why I think we are in for at least another decade of Jeffy. There is absolutely no way that the Wilpons will sell the team for a deal that is half of what they could have had six months before.

Call it hubris if you want, but no one wants to be known as the guy that lost a billion dollars, even if they end up walking away with a 1000% return on the original investment. All that pettiness, meddling, etc. that they have displayed over the past two decades is a clear indication that they would rather go broke and have the team torn from them, rather than suffer the public humiliation of taking a lesser deal.

It's almost better for us if MLB never comes back.


What makes me less concerned is the fact they've piled up so much debt they may no longer have a choice as to whether to sell, it's only a question of how much time they have. This is already the first time they've initiated offers on the team as it is.

The speculation was that Fred and Saul wanted to cash out for estate planning purposes. If the Marlins yielded $2B, there’s good reason to believe the Mets will get something similar. Will they wait a little while until economic conditions improve rather than be forced to take a lowball offer now? probably.


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 Post subject: Re: Cohen increases Met investment (80%)/ Wilpons out by 202
PostPosted: Sat May 02, 2020 2:32 am 
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I don't think MLB will force the Wilpons to do anything. The statement from Manfred that Cohen might be blocked from any teams purchase in the future suggests a pretty strong loyalty to the Pawnstars.

The estate planning / estate tax could be an issue, but I'm not able to work out how selling the team helps them. Generally cashing out post estate transfer is better than cashing out before, but maybe there's work arounds.

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 Post subject: Re: Cohen increases Met investment (80%)/ Wilpons out by 202
PostPosted: Sun May 03, 2020 6:43 pm 
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Jeff "Billion Dollar Blunder" Wilpon

lolol

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The Wilpons are the worst owners in worldwide professional sports.

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matlack72 wrote:
I find this talk about Kelenic comical. He's a 19 year old kid who hit .253 at Kingsport
and struck out once a game and people are talking like he's the second coming. Get real people. When you have a chance to get the best reliever in the game who's only 24 and give up Kelenic in the deal, you MAKE that deal. Stop with the nonsense.


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 Post subject: Re: Cohen increases Met investment (80%)/ Wilpons out by 202
PostPosted: Mon May 04, 2020 12:34 am 
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If I had the means like the Wilpons, I’d fight to keep the team, too.

You don’t really have the opportunity to be the owner of the Mets often. There’s no going back once you sell. I can’t blame them for holding. I’m not sure if this is posturing or if it’s a legitimate attempt to keep the team, but I’d probably turn down every offer too.

:shrug: money won’t satisfy Jeff’s baseball fetish, so I’d expect Steve Cohen needs to add more zeroes if he’s serious.

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 Post subject: Re: Cohen increases Met investment (80%)/ Wilpons out by 202
PostPosted: Mon May 04, 2020 5:49 am 
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MikeH wrote:
If I had the means like the Wilpons, I’d fight to keep the team, too.

You don’t really have the opportunity to be the owner of the Mets often. There’s no going back once you sell. I can’t blame them for holding. I’m not sure if this is posturing or if it’s a legitimate attempt to keep the team, but I’d probably turn down every offer too.

:shrug: money won’t satisfy Jeff’s baseball fetish, so I’d expect Steve Cohen needs to add more zeroes if he’s serious.


I hear what you're saying and income is going up even if attendance is going down. There's a temptation to hold for that reason. On the flip side, nobody likes the Wilpons. They have to weigh their ownership against being disliked by basically everybody. Not all owners are disliked. I think Yankee fans liked George and later Hank Steinbrenner. Mets owners, like the Knicks owner - almost universally disliked. Maybe that makes a sale possible.

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 Post subject: Re: Cohen increases Met investment (80%)/ Wilpons out by 202
PostPosted: Mon May 04, 2020 5:37 pm 
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I doubt jeffy and freddy care. Or are even self-aware enough to know how much they're utterly despised.

_________________
Terry Collins cost the Mets a World Series title.

The Wilpons are the worst owners in worldwide professional sports.

brodie is the worst GM in human history

matlack72 wrote:
I find this talk about Kelenic comical. He's a 19 year old kid who hit .253 at Kingsport
and struck out once a game and people are talking like he's the second coming. Get real people. When you have a chance to get the best reliever in the game who's only 24 and give up Kelenic in the deal, you MAKE that deal. Stop with the nonsense.


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 Post subject: Re: Cohen increases Met investment (80%)/ Wilpons out by 202
PostPosted: Tue May 05, 2020 10:38 pm 
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Legend of NYFS

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tejdog1 wrote:
Jeff "Billion Dollar Blunder" Wilpon

lolol


Billion dollar pillage is more like it. First he got rich off madoff, now he's using the team to pay his debts like he's the victim. Guy's a full out cheat.

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 Post subject: Re: Cohen increases Met investment (80%)/ Wilpons out by 202
PostPosted: Thu May 07, 2020 4:42 pm 
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J-Rod is out.

https://nypost.com/2020/05/07/alex-rodr ... -the-mets/

Quote:
According to multiple sources, Alex Rodriguez and Jennifer Lopez are no longer interested in buying the Mets. That decision was reached after negotiations with potential partners failed to materialize and it became clear that the Wilpons’ reluctance to part with SNY makes it almost impossible for anyone without many billions of dollars to afford owning the team.

J-Rod’s quest to become the biggest power couple in Queens since Archie and Edith Bunker hit a major snag in recent weeks when their chosen money partner, Long Island biotech billionaire Wayne Rothbaum, made it clear he was only interested in scooping up the MLB franchise at an Amazin’ discount. Rothbaum also wanted to exert more control over the team than J-Rod was comfortable surrendering.

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