Mets circling financial wagons.

Although the Mets insist hiring a consulting firm CRG Partners doesn’t indicate the Wilpons are preparing to file for bankruptcy, it is easy to draw that conclusion.

Nonetheless, it is also easy to understand their stance. Things are already abundantly clear about the Mets’ dire financial straits, but vultures are always circling so why make it easy for them?

The Mets are under extreme economic stress so hiring a professional is the sound course. This company worked with the Texas Rangers, and they’ve been to the World Series for the past two seasons.

Maybe it is a coincidence, but the Mets would be foolish not to get as much information as possible.

The Mets could be able to withstand this storm if they receive a favorable ruling when Ponzi goes to court, and CRG might be able to offer some productive counsel should it turn out that way.

Even should bankruptcy come to pass, the Wilpons would need all the advice they can get to protect their other assets other than the Mets.

This is simply a matter of protection, and even if things go against the Wilpons in court there will be the inevitable appeals process, so this won’t be resolved any time soon.

 

One thought on “Mets circling financial wagons.

  1. What does a minority stake involve?

    If you are an owner are you liable for the debts incurred by the majority owner? If so why would you pony up $20M so someone can take more? What do you get for the money? Free parking in flushing? Free tickets?

    It is a lot of money without any benefits. I do not see people lining up to give the Wilpons cash while the ship is sinking.