Wilpons To Refinance Debt, Maintain Control of Mets

The New York Post reported tonight that the Mets are about to experience substantial financial relief.  As soon as next month, owners Fred Wilpon and Saul Katz will close on a seven year refinance of the organization's debt.  There was some question as to whether the ownership group could maintain control of the team through what was a required principal payment of $250 million dollars, due this spring.  The refinance puts that hurdle behind him, as the Post reports they will not be required to come out of pocket with any additional money.

The Post also states, for the first time publicly, that the Mets have been navigating spending restrictions.  Going forward, there will be "no payroll limits written into the re-worked loan."  Per the Post, sources within the Mets' organization expect payroll to increase slowly in the coming years.  however, it is not expected to reach the $140 million level anytime soon.  Additionally, the Mets could post a profit in 2014 for the first time in years.

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This. Changes. Everything.  The debate of whether or not Sandy Alderson can/can't/won't spend may officially be laid to rest.  What can also be a thing of the past is the notion that the Wilpons are going anywhere.  They're here to stay, for better or worse.  Perhaps now fans can turn their attention forward.  Perhaps now the front office can do the same.  Is is possible the team can build on the additions they've made this winter in the coming years?  Are the Mets actually headed forward for the first time in I don't know how long?  Fans will still argue about the past, but this is good news...very good news!

Wilpon Vs. Alderson Blame Game Rages On

As the Mets have devolved over the last four years, fans have searched for answers.  Although the Bernie Madoff scandal was public, the aftereffects as they related to the team's ownership group never were.  As a result, the debate of who was to blame for the team's ever diminishing payroll is often split between the Wilpons and Sandy Alderson, who conveniently took the team's GM spot about the same time.

Despite that fact that today should have been the high point (with the exception of resigning David Wright) over the past four years, today was no different.  In the fog of war following the confirmation that the Mets had signed Curtis Granderson to a 4 year, $60 million dollar contract, WFAN's Mike Francesa stated on air that Sandy Alderson held firm with a three year offer to Curtis Granderson and that it was the Wilpons who went over his head to add the fourth guaranteed year.

Immediately those within the fan base took the airwaves that Francesa's statement proves that Alderson is at fault for organization's downfall.  Then...this:

A person involved in the process said the final decision on adding the fourth year belonged to Alderson.
— Mike Puma (@NYPost_Mets) December 6, 2013

Look, I honestly don't know who is right anymore.  I find it hard to believe that any general manager wouldn't spend every red cent (within reason) offered to him by his owners.  With that said, I'm not blind enough to think that Alderson hasn't low-balled people in the past.  Now was that because its his financial philosophy or because he didn't have the money to offer?  We'll probably never know for sure, but one thing I do know is that today was a rare good day for the Mets, so lets not ruin it for each other.

Maybe Alderson Is The Architect Of The Mets Demise

I’m going to start with a disclaimer.  I’m not sticking up for anyone or making excuses.  This is more me playing devil’s advocate.  It’s gotten real cool the make fun of and rip apart the Wilpon’s.  I’m guilty of it.  You need a whipping boy when things aren’t going well.  Sandy gets a lot of flak too, but he doesn’t seem to draw the ire of fans like Fred and Jeff do.  I’ve been soaking it all in, and in thinking about it, I’ve come to the thought that maybe it’s not the Wilpons.

Let’s face it, the Mets did not pick Sandy Alderson, MLB did.  They picked him because he is smart and frugal and isn’t a free spender.  Sandy didn’t want the job.  Sandy took the job because his boss, Commissioner Selig, asked him too.  Don’t forget how close Selig and Fred Wilpon are.  

The Wilpon’s are businessmen.  They’re loaded and it’s because they’re good at their job.  They made a mistake investing with a conman, and are paying the price.  However, as businessmen, they understand you have to spend money in order to make money.  I would think at this point, they’d shell out the money if Sandy said it was worth it.  Sandy is not that guy though.  He’s not a risk taker.  The biggest signing he made when he was the GM of the Padres was Brian Giles.  Otherwise he did nothing in terms of bringing free agents there.  When he got to San Diego, he inherited a team with a payroll of $62.8 Million (17th in MLB).  The team overachieved and won a weak NL West division 2 years in a row.  They had just moved into a new stadium.  A new stadium + playoffs should equal revenue. Increased revenues should equal increased investments to your roster…right?  Wrong.  By 2009, the Padres payroll was $42.7 Million.  Good for 29th in the league.  

Sandy Alderson does not like to give long term commitments or to overvalue players.  Sandy thinks he is smarter than the game of baseball.  He didn’t come here with long term visions of winning.  He came here to stabilize the financial footing of an ownership desperate to hold on to their baseball team, and is backed by the commissioner.  And frankly I don’t think Sandy gives a shit if they win or lose.  You can tell in his interviews he’s fed up and doesn’t seem to care.  He’s likely going back to the MLB offices next year to take over for Selig when he retires.  Sandy probably is looking down the road and doesn’t want to have to deal with this situation again.  He can avoid it by saddling the Mets with long term contracts.  And once he leaves, it’s not his problem.  

I’m not saying the Wilpon’s are not responsible for this.  Up until this point, I think they were more of the problem.  I just think after 3 years of hearing the same song and dance from Sandy, that he may have more control over the Wilpon’s purse strings than they do.  I know I have said before to be patient until the meetings, and I still stand by that.  It just seems that all you hear out of Mets camp is who they won’t be spending money on instead of who they are trying to spend money on.

The above post is purely speculation not based on any facts at all.  Hit me up on twitter and tell me what you think @GetsThruBuckner

The Mets Have A Wilpon Problem

Photo Courtesy of The7Line

Seventy-five.  That's how many wins the New York Mets have averaged over the past five years.  If you're not keeping score at home, that's fourteen games below .500.. on average.  Locked into an ever present battle for fourth place in the division, the Mets are one of only seven teams to not reach the playoffs since 2006.  In the meantime, a new stadium, a sports network and a massive financial scandal have all combined to retard the franchise's progress forward.

So what comes next?  A methodical reduction in payroll.  First Beltran, then Luis Castillo and good ol' Ollie Perez.  Next up was Jose Reyes, Jason Bay and finally, Johan Santana.  A big market team which once boasted a payroll in excess of $135MM, has been reduced to a mid-market excuse for a baseball franchise struggling to find the pennies necessary to field a $90MM roster.

The one constant over this half decade long struggle?  The Wilpons.  Principle owner Fred Wilpon and his silver spooned idiot son, Jeff, have presided over and ridden a once proud franchise directly into the ground.  Gone are the big contracts, the playoff runs and for the most part..the ticket sales.  The rowdy stands of Shea Stadium have morphed into the sparsely populated bleachers of Citi Field, and I'm not even sure the organization has noticed.

From claims that the franchise is snake bitten to unfathomable statements that money is no obstacle, the Wilpons remain out of touch with the reality of their situation.  Yesterday provided the most recent example of the Wilpons' complete disregard for the fan base they depend on.  In the early weeks of an offseason of renaissance, with fans clamoring for the first of what they hope will be many acquisitions this winter, ownership dunce Jeff Wilpon took to the mic to scream from the rafters than the Mets were poised to do something big.  With several things in the works..an announcement was on the horizon.  What could go wrong?

Fast forward two hours and Sandy Alderson is left the pick up the pieces.  Not only was no acquisition imminent,  but the big news of the day would be next season's summer concert series.  Fans were left in disbelief.  How could one of the men at the forefront of this organization have no clue that his words would incite the masses?  Five lost years..with a shred of hope mixed in with the mirage at the end of the tunnel, and ownership just toys with its line of income.

I can't begin to predict what will happen between now and spring training, but it remains safe to say that the organization's ultimate leadership, its owners, are the root of the problem.  I once feared the biggest dilemma we might face would be their bankroll, or lack thereof.  However, now it seems their inability to grasp the reality of their situation could be our downfall.  Jeff Wilpon's words have once again kicked Mets fans in their proverbial teeth.  Now its time to put whatever money he might have left where his mouth is..assuming there is any room left once he removes his foot.

Like what you've read?  Follow me on Twitter at @RobPatterson83.