May 26

Mets OK minority owner; still have major problems.

The Mets have the minority owner they hope will be able to bail them out of their major financial mess in the fallout of the Bernie Madoff Ponzi scheme.

Mets to get minority owner.

David Einhorn, president of Greenlight Capital Inc., will purchase roughly 25 percent of the team for roughly $200 million. The sale does not include any ownership segment of SNY. The $200 million will go toward paying down the Mets’ considerable debt, which includes repayment of a $25 million loan to Major League Baseball.

The Mets confirmed the sale this morning in a press release, saying Einhorn has a non-operating stake in the team.

“We are very excited about David joining our ownership group for several reasons,” owner Fred Wilpon said. “David’s investment immediately improves the franchise’s financial position. Equally important, David’s intelligence, integrity and success in both business and civic affairs provides us with another perspective in evaluating what is best for this organization and our fans, and we welcome his input. In partnership with David, we look forward to achieving our ultimate goal of again becoming World Series champions.”

EINHORN BIO

Einhorn, 43, co-founded Greenlight Capital in 1996. He is the author of “Fooling Some Of The People All Of The Time,” a book detailing his battles with Allied Capital. Considering how all this transpired and the parties involved in the Ponzi scheme, it is an ironic title.

Einhorn grew up a Mets fan and dressed up as Dave Kingman one Halloween.

“Having an opportunity to become part of the Mets franchise is exciting beyond my wildest childhood dreams,” Einhorn said in the release. “ I spent my first seven years living in New Jersey and rooting for the Mets.  In 1975, I even dressed in a homemade jersey as a Met for Halloween.

“ I have been a baseball fan for my entire life and have enjoyed teaching the game as the coach of my daughter’s little league team.  I look forward to partnering with the Wilpon and Katz families through the good seasons, the tough seasons and especially the championship seasons.”

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Apr 01

Mets over/under for 2011 and some picks.

In most circles, the Mets are pegged for fourth place in the NL East with roughly 77 victories. Considering their offseason and the issues around the team that seems about right. I’ll throw out a number and you tell me if you’ll take the over/under.

 

Mets victories: 78

Phillies victories: 98

Mets victories over Phillies: 7

Mets victories over Braves: 8

Mike Pelfrey wins: 16

R.A. Dickey wins: 11

Jon Niese wins: 12

Different Mets pitchers to make a start: 11

Francisco Rodriguez game-ending appearances: 50

Rodriguez saves: 25

Ike Davis homers: 21

Games played by Jason Bay: 110

Bay homers: 19

Times Bay will appear on the DL: 2

Games played by Carlos Beltran assuming no trade: 110

Jose Reyes steals: 55

Reyes games with Mets assuming no trade: 145

David Wright homers: 30

Wright strikeouts: 130

Wright RBI: 107

Angel Pagan average: .280

Pagan stolen bases: 30

Jose Thole average: .275

Date we’ll see Johan Santana: Aug. 9

 

My picks:

NL East winner: Phillies

NL Central winner: Reds

NL West winner: Giants

NL wild card: Braves

NL champ: Phillies

Mets finish in NL East: fourth

NL MVP: Troy Tulowitzki, Colorado

NL Cy Young: Matt Cain, San Francisco

 

AL East winner: Boston

AL Central winner: Minnesota

AL West winner: Texas

AL wild-card: New York

AL Champ: Boston

AL MVP: Adrian Gonzalez, Boston

AL Cy Young: CC Sabathia, New York

World Series winner: Boston

Dec 08

Would Mets really gain by dealing Beltran to Sox?

There are a myriad of issues surrounding Carlos Beltran that make him logically impossible to deal, but there reports out of Boston the Mets and Red Sox are talking.

BELTRAN: Would deal to Sox help Mets?

Undoubtedly, it is Boston’s cobra-mongoose struggle with the Yankees that has the Red Sox thinking about adding Beltran.

The Red Sox have a hole in the outfield and the designated hitter to slot in on an occasional basis (don’t forget David Ortiz will get most of those at-bats after the trade for Adrian Gonzalez).

Clearly, the Red Sox would be gambling to catch lightning in a bottle with Beltran in his walk year as worth taking the risk on the outfielder’s balky knees and $18.5 million salary.

Reportedly, the Red Sox are willing to part with Daisuke Matsuzaka, who will make $10 million in each of the next years. So essentially, the Mets would be trading a bad one-year contract for a bad two-year contract.

And, if the Mets have to eat about $8.5 million of Beltran’s contract to make the trade work, then what’s the benefit? They wouldn’t open up any payroll room because they’d still be on the hook for Beltran’s balance and Matsuzaka’s salary plus the latter’s salary for 2012.

The Mets would be trading the hope of Beltran bouncing back to hoping Matsuzaka will rebound. Yes, the Mets need pitching, but would Matsuzaka really help them?

That Boston is so eager to get rid of Matsuzaka should tell you something about what the Red Sox think of his ability to turn it around.

The one thing certain about the Mets and Beltran is this will be their last season together. Clearly, the Mets want to clear the books and think ahead to 2012. Beltran is not enamored with the organization for how it handled his knee problems and is seeking one more payday.

The Mets would like to trade Beltran, but their best hope for a good return will be if he gets off to a good start and stays healthy and they are able to swing something at the deadline.

Hope. That’s the best word to describe the Mets’ immediate prospects for 2011.

Dec 07

Immediate forecast for change not looking good.

The Mets are interested in Freddy Garcia, Chris Young and Jeff Francis, but Sandy Alderson said the Mets will only sign one middle-tier starter. That means the fifth starter will either be Dillon Gee, Oliver Perez, Pat Misch or maybe another sterling arm from the system.

Young and Francis, reportedly, are asking for one year, $5-million deals loaded with incentives, which Alderson described as “high.’’ Fact is, as a going rate, that’s a pretty decent price for mediocrity, but it might be too much of a reach since both are coming off shoulder injuries.

The Mets aren’t going to get catcher Russell Martin, which was interesting for a moment. Asking price of $5 million is too high. He’ll end up with Boston or the Yankees. They’ll go really low rent for Josh Thole’s back-up.

At least Alderson hasn’t promised us trades and signings he knows he can’t deliver. Alderson said this is going to take time and all indications are he’s not going to blink and make a panic move that will bite the Mets for years to come.

The only way the Mets can make substantial improvements for 2011 by addition is to eat the Perez and Castillo contracts and add payroll. That won’t happen.

Dec 04

Making a go with little

Sandy Alderson said it again, that the Mets have little payroll flexibility and aren’t expected to make a splash in the free-agent market.

Again, even if the Mets cut Oliver Perez and Luis Castillo, they are still on the hook for $18 million between them. It’s not as if the money could be spent elsewhere.

The Mets need to find two starters, bullpen depth, a second baseman (if it is not Castillo), a back-up catcher and bench depth. Try doing that with about $10 million to spend.

There’s not much in the minor league system to help immediately. And, Ruben Tejada and Jenrry Mejia are best served in the minor leagues for this year, Alderson said. There aren’t the prospects available to make a trade similar to the one Boston did for Adrian Gonzalez. And, if there was, the Mets are committed to not spending.

Again, we can re-examine trading Jose Reyes and David Wright, but you’d be dealing your two best players. And, with Reyes, his value because of injury and lack of production the past two years, and that he’ll be a free agent after 2011, make him difficult to deal.

And, while a solid player, Wright isn’t one that would bring a boatload of talent in return. Plus, he’d leave a gaping hole at third base.

Alderson said this would be a process and he’s not lying. This is becoming more apparent as the winter meetings approach. They might be able to add a band-aid or two, but other than that, hope for 2011 is for Reyes, Jason Bay and Carlos Beltran to get healthy and continued development from players such as Mike Pelfrey, Jon Niese and Ike Davis.

As of now, hope is the plan.