Mets Expect To Sell 10 Shares Of Team

It used to be that the Mets were one of the financial powerhouses in baseball. When the Twins didn't think they could afford Johan Santana, the Mets relieved them of that burden. When the Marlins didn't think they could keep Carlos Delgado, the Mets were there. Both the Marlins and Twins should have larger team payrolls than the Mets in 2012.

In an effort to dig up out of the mess they're in, the Mets decided to sell minority shares, complete with a chance to meet Mr. Met in person! I wonder if he's like the tabloids say he is.

But while the supposed perks of a non-controlled stake in the Mets were initially amusing, it turns out that they're progressing nicely with the sale of them. From Newsday:

The Mets expect to sell 10 minority shares of the team by the end of February, a person familiar with the process said Monday. The units, priced at $20 million each, would raise $200 million for the cash-strapped franchise and be used to pay existing loans and operating expenses for 2012.

Whatever the perks are, there isn't a shortage of rich folks looking to own a chunk of the Mets. They'll almost certainly get back to fiscal health, but it will probably take a while. This sale is the first step.

X
Log In Sign Up

forgot?
Log In Sign Up

Forgot password?

We'll email you a reset link.

If you signed up using a 3rd party account like Facebook or Twitter, please login with it instead.

Forgot password?

Try another email?

Almost done,

Join SBNation.com

You must be a member of SBNation.com to participate.

We have our own Community Guidelines at SBNation.com. You should read them.

Join SBNation.com

You must be a member of SBNation.com to participate.

We have our own Community Guidelines at SBNation.com. You should read them.

Spinner.vc97ec6e

Authenticating

Great!

Choose an available username to complete sign up.

In order to provide our users with a better overall experience, we ask for more information from Facebook when using it to login so that we can learn more about our audience and provide you with the best possible experience. We do not store specific user data and the sharing of it is not required to login with Facebook.