instant online payday loans ohio vanquis credit card login login ebay hdfc credit card deals no job no credit loans credit card history in india can i use my business credit card for personal purchases can you get cashback on a walmart visa gift card valero com creditcard amazon chase student credit card apply for a visa credit card with no credit history prepaid credit cards with overdraft protection how do i apply for a best buy mastercard pay my tesco credit card online marriott rewards credit card promotion code lenscrafters ge credit card payment bad credit payday loans online abn amro credit card apply online in india best 0 foreign transaction fee credit card halifax credit card reward points hdfc credit card login bill payment cash payday loans canada halifax credit card address for payment credit card protection insurance india credit card reader for small business uk store credit cards on iphone app top bad credit loan companies unionbank visa secured credit card wells fargo health advantage credit card account application free credit card numbers that work 2013 file bankruptcy credit cards only free credit card numbers and security code credit card compare rewards credit card application lloyds tsb online credit card verification southwest rapid rewards plus visa card $25 american express prepaid credit card best and worst credit cards for travel insurance natwest credit card late payment charges platinum credit cards accept credit cards on iphone average household credit card debt 2013 are discover student credit cards good bad credit loans no guarantor no fees interest free period credit cards explained ?3000 loan bad credit instant decision platinum card hull uni banana republic visa credit card rewards minimum credit score for firestone credit card credit card for bad credit no annual fee no deposit best secured credit card in canada transfer balance credit cards for bad credit i need a credit card number and security code american airlines credit card offer 50000 miles credit card rate reduction bad credit card offers unsecured credit card offer hdfc best prepaid credit cards for business icici credit card offers on mobiles jcpenney credit card payment sign in business credit card low interest rates the best method for using a credit card is to ________ are cash reward credit cards worth it home depot credit card services credit card banks in us united miles credit card deals credit card number location calculate credit card interest on purchases icici bank credit card interest rate calculator low interest rate credit card balance transfer air canada credit card offers fee free credit cards reward programs credit card information security policy credit card debt settlement letter example african bank credit card limit increase contact numbers hsbc credit card rewards wachovia wells fargo credit card rewards sss online loan application form getting a credit card machine for small business compare credit card best buy credit cards contact us suze orman choosing a credit card credit card a visa prepaid credit card online best credit cards for travel perks visa card security code cash converters personal loans liverpool bank of america credit card minimum payment disney rewards credit card canada going over credit limit secured business credit card with rewards fast loans with bad credit online pay jcpenney credit card with gift card long gold cardigan direct online payday lenders only pokemon black cardboard boxes marriott rewards credit card uk login hsbc best buy reward zone credit card uml diagrams for analysis on credit card fraud detection methods best airmiles credit card uk student credit cards visa or mastercard fast cash advance payday loans toronto hdfc credit card points offers credit card after bankruptcy discharge canada platinum credit card hdfc canadian tire credit card online application southwest reward credit card reviews credit card apps for iphone reviews bank of america credit card apr credit card payment calculator multiple interest rates best 0 credit cards balance transfers emirates platinum credit card standard chartered apply for credit card online credit card fraud punishment uk bp gas credit cards with cash back lloyds tsb platinum credit card interest rate pay my bestbuy credit card credit card online apply city bank credit card application best cashback credit card comparison student credit card bad or no credit online credit cards australia costco credit card merchant services best credit cards rewards 2013 0 percent balance transfer business credit cards cash loans online uk hdfc gold credit card reward points redemption best credit cards for students with no income how do i get a cash advance on my capital one credit card icici credit card online payment easy pay best credit card for college students with no credit 2011 pre approved credit cards means secured credit card to rebuild credit score tata sbi credit card online payment best buy credit card interest free payday loan lenders only uk psn credit card information stolen where can i get a secured credit card in canada alaska airline credit card deals shell credit cards gas secured credit card canada rebuild new payday lenders not brokers 0 balance transfer credit card poor credit credit card no annual fee fair credit balance transfer credit cards for fair credit icici bank credit card customer care phone number aqua credit card app best cashback credit card malaysia how to calculate credit card apr formula citibank credit card application status mumbai advance travel pay calculator best 0 apr balance transfer credit card how to transfer my credit card balance to another card portable credit card machine canada gas store credit card for bad credit credit cards with no annual fee and no foreign transaction fees bad credit payday loans direct what is a good balance transfer credit card credit card low interest rates balance transfer disney credit card chase login no credit check unsecured credit card accepting credit card payments on android phone i need a credit card with a 3000 dollar limit credit card settlement process disadvantages of cash advances on credit cards citi government travel credit card toys r us credit card login ge capital 0 interest balance transfer credit cards chase credit cards cash back rewards td canada trust visa gift cards the best credit cards 2013 malaysia hsbc credit card travel deals high risk credit cards canada can you get cash from a walmart visa gift card hsbc credit card settlement process india credit card minimum payment calculator uk best credit card for money transfer to current account activate td visa card number applying for chase credit card after bankruptcy us credit card debt lirik platinum cardcaptor sakura how to check bpi credit card application status online hdfc gold credit card emi calculator best travel credit cards rewards list of top credit cards in india top cash back credit cards uk does applying for credit cards lower your score hdfc credit card limit enhancement online can you claim back credit card insurance easy store credit cards to get approved balance transfer natwest to barclaycard payday loans with bad credit and no fees costco merchant credit card services uk payday loans online no credit check australia credit card approval with no credit credit card debt relief act 2011 payday loan no credit check direct lender uk apply online credit card citibank southwest rapid rewards credit card upgrade which credit card can i get with bad credit lane bryant credit card approval wells fargo credit card services reviews what is the best secured credit card to get visa credit cards numbers and security code first premier bank secured credit card phone number when does my credit card report to credit bureau how to pay for android apps without credit card credit card compare uae best cash rewards credit cards 2013 state bank of india credit cards online apply credit cards with no application fee for bad credit best credit card offers 2013 india aadvantage credit card 50000 hsbc credit card promotions for hotels chase visa rewards card login barnes and noble credit card information stolen sbi credit card payment login does getting a credit card hurt your credit score android paypal credit card processing aqua credit card uk address citibank credit card rewards apply online credit card sbi india credit card numbers 2013 with cvv good credit cards to apply for with no credit easy credit card approval australia credit card numbers master cards city bank credit card statement payday loans online direct lenders uk instant approval unsecured credit cards for poor credit capital one credit card account restricted best cashback credit cards for small business usaa federal savings bank credit card phone number capital one best buy credit card customer service number mastercard gift card fees whats the average credit card apr instant bad credit loans approval whats an easy credit card to get with bad credit inner fence llc credit card terminal best american airlines credit card offers 2011 walmart credit card payment website sears credit card application puerto rico credit card verification code location how long does it take to get credit card in the mail loans online with monthly payments ireland best credit cards abroad travel guaranteed payday loans for bad credit no fees home depot credit card no interest for 18 months td bank credit card processing the best credit cards for rewards programs bpi credit card online application requirements tata capital credit card payment are credit card rewards taxable marriott reward credit card online servicing best small business credit cards for fair credit icici credit card rewards points catalogue cash loans for bad credit direct lender instant credit card approval singapore apply icici credit card india how can i send money online using my credit card best 2 cash back cards top 5 credit card companies us bad credit loan companies no brokers barclays credit card online application in india car loans with bad credit history apply for bank of america student credit card make credit card payments with paypal credit card limits are included in m1 or m2 best way to use credit card rewards what is a secured credit card british airways credit card charges does paypal accept visa debit cards walmart credit card phone number canada best buy credit card account login freedom credit card cash back credit card report definition air miles visa credit cards canada store credit cards uk india citibank corporate credit card online login pay off your credit card debt calculator best zero interest credit cards 2012 consolidate credit card loans hsbc credit card cash advance fee icici bank hpcl platinum credit card apply online iphone credit card reader australia how to sign up for netflix free trial without credit card or paypal uk cash loans now no foreign currency transaction fees credit card canada apply for household credit card easy fast online payday loans credit card prime rate history sbi credit card statement customer care chase business credit cards comparison credit card payoff calculator cnn money how long does it take to get a credit card rbc what;s the best credit card to use in the usa best 0 balance transfer and purchases credit cards best visa credit card abroad excel formula to calculate monthly credit card interest accepting credit cards over the phone with paypal barclays credit card ppi refund money saving expert credit card charges refund how long before wells fargo secured credit card is unsecured low intrest credit cards american airlines credit card offer minimum payment for bank of america credit cards best credit card for first time users with no credit apply for a walmart credit card discovery vitality credit card benefits how to get an international prepaid credit card national city bank credit card offers unsecured loan bad credit instant decision prepaid visa credit cards australia payday loan lenders no brokers no credit checks orchard bank credit card application process best rewards credit card in the uk bad credit loans partially secured credit cards bad credit visa credit cards canada good credit cards for no credit history mastercard careers mba free credit card advice wells fargo credit card minimum payment percentage how to build credit with your first credit card first premier bank unsecured credit card reviews my premier credit card processing fee goodyear credit card online payment credit cards with low apr for life instant credit card temporary number citibank credit card online payment standard chartered credit card review philippines 6 months interest free credit card australia gas credit cards for no credit history how does a wells fargo student credit card work hilton uk credit card best rewards credit card us bank how does chase apply credit card payments credit card logos psd how to activate a hdfc credit card accept credit card payments on windows phone online payday loans bad credit ok 0 apr purchases credit cards going over credit card limit hsbc credit cards to rebuild your credit rating hdfc credit card payment by other bank credit card fnb credit cards applications how to redeem hdfc world credit card reward points paypal credit card uk login get a credit card with no credit canada pay jcpenney credit card in store credit cards accepted at walmart canada black credit card no limit best credit card rates canada 2012 qatar airways credit card verification low interest balance transfer credit cards australia how to pay off credit card debt on a budget store rewards cards app android citibank credit card settlement letter how to get out of credit card debt without paying commonwealth bank credit cards rewards instant payday loans compare hsbc credit card machine rolls credit card application has been referred best buy credit card credit check getting a secured credit card after bankruptcy start up business loans with bad credit bad credit mortgage lenders army navy federal credit union post office uk credit card application what happens to my credit score if i cancel a credit card issue number on credit card visa credit card deals bonus points online loans instant decision south africa can i use my sears credit card at kmart top cash back credit cards in usa compare low rate balance transfer credit cards credit card machine costco valid credit card numbers generator verified by visa for axis bank credit cards credit card settlement process in dubai best credit card with low interest rate bank of america credit card login usa uk credit cards with travel insurance royalty free credit card icons get free prepaid credit card online free pay as you go credit card uk msn credit card payoff calculator bank of america secured credit card approval ge capital bank credit card uk best american airlines credit card 2012 list of all credit cards in canada anz reloadable prepaid credit cards does my corporate credit card affect my credit score does secured credit card help credit score credit card offers best reward points bad credit credit cards unsecured instant approval canada no fee credit card india highest credit card limit possible real credit card numbers and cvv codes barclays mobile credit card terminal bad credit cash advance direct lenders unauthorized credit card charges canada state employees credit union southwest airline credit cards with no annual fee wells fargo credit card cash advance setting up a credit card merchant account chase virtual credit card terminal top 10 rewards credit cards pay barclay credit card bill online credit cards no annual fee no credit history orchard credit card bank best credit cards with airmiles canada titanium hdfc credit card offers credit card interest calculator app free credit card details with cvv average credit card rates history storing credit card information in mysql store credit cards with poor credit cheapest cash advance credit card uk best credit card for someone with bad credit rating disney visa card application status tesco credit card login accounts td canada trust credit card application status credit card low interest rate canada ryanair credit card booking fees using cibc visa debit card online secured credit card in canada credit union credit cards australia best mobile credit card apps online loan companies in uk credit cards with no international service fee pay chase disney credit card icici bank credit card comparison get free virtual credit card chase visa credit card phone numbers leaving us credit card debt best credit card machines for business credit card processing app chase united credit card customer service airline visa credit cards uk guaranteed payday loans direct lenders only hdfc credit card reward points offer hsbc canada credit card rewards reviews on citi student credit cards best credit card for a student with no credit disable paypal credit card payment credit cards travel southwest airlines premier credit card benefits old navy visa card login aspire credit card customer service number best credit cards no credit low or no interest credit cards online prepaid credit card what is credit card apr on purchases capital one best buy credit card application best usaa credit card for students small business credit card balance transfer receive credit card payments on android apr credit card calculator uk hdfc titanium international credit card features accept credit cards online australia do i need a credit card to build credit is a prepaid credit card a good idea bank of america student credit card interest free credit card loans citibank credit card cash advance charges credit card merchant account no monthly fee gold delta skymiles? credit card reviews 0 no fee credit card balance transfers icici credit card limit calculator citibank virtual credit card mobile best visa credit cards for young adults myer visa card how to apply credit card maybank how to get a credit card with bad credit capital one credit card balance transfer offers can you link prepaid credit card paypal how do payday advance loans work ipad credit card reader gap visa card login accept credit cards free iphone natwest gold card travel insurance how to avoid ryanair credit card fees pay chase credit card online mastercard credit card foreign exchange rates credit card for students in india current average household credit card debt rbs credit card services telephone number does paypal accept prepaid credit cards list of top credit card companies u.s. bank secured visa credit card reviews joint credit card with spouse uk credit card no foreign transaction fees unsecured bad credit cards guaranteed approval tesco credit card protection on purchases check walmart credit card application status cash converters payday advance loans credit card to help rebuild bad credit gift credit cards uk online virtual credit cards uk secured visa gold credit card
Home Pete Toms LWIB (Part II): Are the Wilpons and Katz Keeping the Mets? Plus Tidbits

Like Shoot to Thrill - An AC/DC Tribute on Facebook!

An authentic tribute of AC/DC that covers the best of the Bon Scott era and the best of Brian Johnson's material

Who's Online?

We have 1041 guests online

Atom RSS

LWIB (Part II): Are the Wilpons and Katz Keeping the Mets? Plus Tidbits PDF Print E-mail
User Rating: / 42
Pete Toms Article Archive
Written by Pete Toms   
Wednesday, 08 February 2012 12:14

Last Week in Bizball by Pete Toms

This week, a second edition of “Last Week in Bizball”. Can Wilpon and Katz keep the Mets?, plus the tidbits.


Where to start with the Mets woes? Irving Picard, representing the victims of Bernie Madoff, is attempting to extract close to $400 million from Mets owners Fred Wilpon and Saul Katz (aka Sterling Equities). The Mets operating losses over the past 2 seasons are reportedly $120 million. In November, the Mets arranged a bridge loan from BofA for $40 million. MLB also loaned the club $25 million and both are expected to be repaid next month. The baseball club and Sterling’s RSN, SNY, combined, have a reported $375 million coming due in a few years. Attendance and ticket prices at Citi Field have dropped dramatically the past few seasons. This upcoming season will see the Mets slash year-over-year payroll by $50 million plus and the team is expected to stink. They also folded a minor league team this off season. Last month it was reported that the Mets had retained the services of “turnaround specialists” CRG Partners. CRG was one of the key players in the bankruptcy auction of the Texas Rangers. David Einhorn agreed to invest $200 million in the Mets, but the deal collapsed. But, unlike with Tom Hicks and Frank McCourt, MLB hasn’t wrested the Mets away from Wilpon and Katz. Oh well, we cynics think, eventually being an FOB won’t be enough to save the Mets owners. They‘ll soon go bust and the creditors will take over.

But, LWIB there was buzz amongst sports industry insiders that Wilpon and Katz aren‘t leaving MLB any time soon. In this SportsMoney video segment, big time sports banker Sal Galatioto of GSP (no, not MMA) predicted that the many reports of the Mets “near bankruptcy” are “greatly exaggerated”. Galatioto foresees the Mets current efforts to raise $200 million via the sale of 10 minority shares in the team @ $20 million per succeeding. He also sees a lot of value in the Mets media rights. Sterling owns approximately 70% of the RSN (SNY) which broadcast Mets games. TWC and Comcast own the balance. The banker notes the guaranteed value of these cable rights deals, “...when you have a media deal, like a cable rights deal, you’re going to get paid, whatever your rights fee is whether the product is good or the product isn’t good.”

LWIB, Richard Sandomir reported in the New York Times that the Mets are close to finalizing the sale of the $200 million in minority shares. Richard confirms the earlier LA Times report that Steven Cohen (also bidding for the Dodgers) is set to become a Mets minority investor. But Richard’s scoop, and the more interesting development, is that the Mets aforementioned partners in SNY will invest $80 million in the baseball franchise. Howard Megdal explained that TWC and Comcast are motivated to help Sterling maintain control of the club for a few reasons. First, because Sterling owns both the team and a majority of SNY, the RSN lowballs the club’s rights fee, which is good for TWC and Comcast. And, if Sterling is forced to sell the team there is no guarantee SNY would continue to control the Mets local TV rights. Losing the Mets would make SNY worthless because they don’t own the rights to any other properties of significant value.

LWIB, Bill Madden wrote that the expected $2 billion sale price of the Dodgers will be a big help to the Mets owners. According to Bill’s unnamed “industry insider”, if the Dodgers are worth $2 billion, the Mets must be worth $3 billion. “What that means,” said the insider, “is that the Wilpons can now go back to their banks, point to the value of the team, and say: ‘Lend us more money.’”



  • The Economist is the latest to weigh in on the debate over whether or not MLB’s introduction (imposition?) of their amateur draft in Puerto Rico in 1990 is directly responsible for a dramatic decrease in the number of players recruited there. This is a topical debate because MLB is considering doing the same in the Dominican Republic, the largest producer of players outside the US. Is MLB dismantling the “buscone” system, and if they are, will they regret it? This is a good piece.
  • There are unconfirmed reports that Tampa Bay Lightning owner Jeffrey Vinik is interested in buying the Rays and building a new ballpark. Evidently this would be part of a larger plan to salvage a failed 230,000 square foot retail development that is the centrepiece of an entertainment district near the Lightning’s arena. I read this in Paul Waldie’s report.
  • I’ve blogged a handful of times here about the challenges that the rapidly growing secondary ticket marketplace have brought to MLB. Put bluntly, too many clubs are seeing too many of their tickets sold at well below face value on the secondary market, cannibalizing primary sales. Most recently I’ve been looking at how clubs are in the initial stages of selling limited inventory via a paperless option. While the introduction of paperless ticketing was no doubt inevitable given our growing reliance on all things digital, I, like many, also believe that clubs are moving to paperless to limit the amount of inventory on the secondary market. Paperless tickets are much more difficult to resell. LWIB, the Red Sox announced that some bleacher tickets to 30 games will be solely available via the paperless option. I’m not sure what to make of this because the Red Sox are not one of the teams seeing their primary sales cannibalized by the secondary market. reported that the Red Sox “authorized reseller” Ace Ticket wouldn’t comment on the team’s paperless offering. Most interesting to me, particularly given that MLB’s secondary ticketing partnership with industry leader StubHub expires at the end of this upcoming season, was this note: “The digital tickets went on sale February 1, 2012. The plan is part of a digital ticketing initiative that will be implemented across Major League Baseball in 2012.” Hmmm…
  • I noted here last month that the CA Supreme Court upheld the state government’s decision to abolish redevelopment agencies. Redevelopment agencies are frequently used to funnel money into the construction/renovation of sports stadia, including ballparks. LWIB, Angela Woodell reported that the absence of redevelopment money has officially killed any proposal to build a new waterfront ballpark for the A’s in Oakland (aka, the Victory Court site). Oakland will attempt to move forward with a plan for, “…revamping the Coliseum complex with retail, restaurants, hotels and new sports facilities for the Raiders and Warriors. The plan would include a new ballpark for the A's if the team stays in Oakland.” Ballpark Digest thinks that, “All of this puts San Jose one step closer to acquiring a new A's ballpark.” because their plan isn’t dependent on redevelopment money.
  • Ed Sherman reported that the White Sox are expanding their use of dynamic pricing this season. “Virtually every seat at U.S. Cellular Field (excluding those claimed by season ticket holders) will be subject to dynamic pricing.” I’ve lost track of how many clubs are using dynamic pricing but I’m betting that all of them will be within the next few years. Ed doesn’t mention this but I suspect that one of the principal reasons dynamic pricing is being widely adopted is to compete with the secondary ticket market.
  • I’ve mentioned here recently that this upcoming season will see the debut of the Budweiser Patio in the right field bleachers at Wrigley. LWIB I learned that Budweiser and concessionaire Aramark are sharing the projected $500,000 - $1 million cost of constructing the “Budweiser Bowtie Bar” in the right field corner at PNC Park. I learned from Don Muret that Bud sponsors similar spaces at Angel Stadium, Fenway Park (the area atop the Green Monster), Minute Maid Park, Target Field and the soon to open, Marlins Park. Also from Don, “The Bowtie Bar continues the trend across baseball for developing more casual destinations outside of the traditional suite model. “One thing missing from most parks like ours that were built in the late 1990s and early 2000s is a bar-like atmosphere but with a good view of the park,” Coonelly said.” (Frank Coonelly is the club President of the Pirates)
  • I didn’t look at them, but you might. Here are 96 recent pics of the Marlins new digs, including fish tanks.
  • On May 19 San Quentin State Prison will host a baseball game between an All Star squad of inmates and the San Rafael Pacifics of the North American League. Ballpark Digest reports that, “The game is expected to take place approximately between 9 a.m. and noon, with the East Gate to the prison opening at 8:30 a.m.”

You can follow me on Twitter @PeteToms

Pete Toms is senior writer for the Business of Sports Network, most notably, The Biz of Baseball. He looks forward to your comments and can be contacted through The Biz of Baseball.

Follow The Biz of Baseball on Twitter Twitter

FacebookFollow the Business of Sports Network on Facebook



Should MLB Force Jeffery Loria to Sell the Marlins?