Results tagged “fredwilpon”

While losses are all too familiar to the Mets, it turns out that the organization made a bit from two accounts invested with Bernard Madoff. The NY Times reports, based on court filings, "Mets LP, one of the team’s financial arms, withdrew $570.5 million from two accounts it held with Madoff’s company, $47.8 million more than it put in."

With an extensive list of maintenance problems stemming from faulty wiring, falling signs, crumbling concrete and collapsing pipes, insiders are apparently referring to the Mets' new stadium as "Shitty Field." Even Jerry Seinfeld must be scratching his head and asking himself who the ad wizards are behind that one with word that Seinfeld's luxury suite was one of a handful of $500,000 boxes that had to have the walls knocked down because water damage created molding in them.

As if the Mets needed anymore battering—now the team has to say that owner Fred Wilpon's huge losses from investing with Bernard Madoff aren't affecting the team! Investigative journalist Erin Arvedlund, who wrote a book about Madoff, claimed that Wilpon lost $700 million with the Ponzi schemer—and suggest that he'll have to sell the team next year. The Mets responded, "The author of the book has no knowledge or facts related to the Mets business operations or finances. Her speculation that the Mets - or any part of the team - is for sale is completely false and is irresponsible." But now Newsday points out one possible sign of belt-tightening, "The Mets have canceled their Instructional League, held annually in Port St. Lucie, and instead will have a "modified" program at their baseball academy in the Dominican Republic"—which will save about $250,000 and which former GM Jim Duquette thinks is a bad move, "[The IL] gives you a chance to extend the development of your young players, of your prospects. and they're not gonna have it. ...If you're development-oriented, it's not a good decision, in my opinion."

Yesterday the Mets held a press conference to say that GM Omar Minaya would be investigating allegations that VP of Player Development Tony Bernazard had ripped his shirt off and challenged minor leaguers to a fight. But much like the period of speculation leading up to Willie Randolph's firing last year, the situation has quickly snowballed, calling into question the way in which the entire organization is run.

The trustee overseeing the liquidation of Bernard Madoff's estate filed a motion to sell the Ponzi schemer's Mets tickets on eBay. The filing states, "Because the New York Mets’ season has already started, the trustee must sell the tickets as quickly as possible to maximize the possible recovery." According to Bloomberg News, "The Madoff firm had two Delta Club Platinum season tickets for the Mets, for seats directly behind home plate" with a "face value was $80,190 for the season." But since the right to purchase playoff seats and tickets don't transfer if those seats' tickets are sold, "Picard reached an agreement with the Mets to swap them for Delta Club Gold tickets valued at $60,750" and the Mets refunded the difference. The filing thinks the Gold seats, which are behind the Platinum ones, are "more marketable, especially given the current economic environment." More details here. Also: Mets owner Fred Wilpon's firm had invested heavily with Madoff.

"You can always look over your shoulder and think things like that, but the intent here clearly was to respect Willie. To do it in person. It's never easy to fire anybody. Omar took a lot of time. We took a lot of time listening to him and thinking about it. He wanted to respect Willie, and that's what he did."

Willie Randolph certainly didn’t seem to see it that way when he spoke with the Daily News last week and while Wilpon spoke about respecting the manager, he did add a couple of parting shots:

"It's all a matter of performance. Recognize, Omar gave Willie a chance to be in this position. He had never been a manager in the major leagues or minor leagues. I think Willie did a good job. The results of the last say 14 months were not up to what we thought it had to be."

But, it is clear that Wilpon is firmly behind his GM, adding that, “Omar does a great job” and “Everyone who makes decisions isn't going to make all right decisions." It all sounds great, but will those endorsements still be as strong if Wilpon watches his team miss the playoffs again this season?

The Mets' midnight firing of manager Willie Randolph and two other coaches continues to piss off various parties. The Post uses a little bit of Photoshop magic to place a knife in new manager Jerry Manuel's hand--aimed right at Randolph's back--for today's back cover.

The Mets introduced Johan Santana, their newest player and best attempt at getting back to the World Series, in Flushing yesterday. Just last week, the Mets and Santana agreed to a six-year $137.5 million contract that makes the Mets a favorite in the National League. Scores of press were on hand for the introduction, as well as David Wright, Omar Minaya, owners Fred and Jeff Wilpon, and Willie Randolph. Before his official introduction, the Mets played a video montage to showcase their new arm. The video had music by Carlos Santana and had greetings by famous Mets interspliced with the pitcher's highlights.

Yesterday, the Mets organization and various city and state officials broke ground on the new Mets stadium, Citi Field.

Pedro Martinez was thought to be out for only the playoffs when it was annoucned that he had a torn tendon in his left calf. Now it's being that the soon to be 35 year-old Mets righty will be out for 8 months because of rotator cuff surgery. Assuming Pedro has a speedy recovery, which is a big assumption, he would be back in June. The injury was detected the same day physicians discovered the injury in Martinez's left calf. A second opinion requested by Martinez confirmed the initial test. Omar Minaya told the Associated Press that Pedro was "absolutely not" considering retirement.

Aaron Heilman picked up his first win of the season in game one in six innings of work. Heilman gave up four runs and the Mets offense came alive to take the lead in the sixth inning.

With a chance to go into the break on a positive note, the Mets fell to the Marlins yesterday, 5-2 (box score). In the 93° Florida heat, Al Leiter only pitched three innings but threw 88 pitches in the outing. The number was a result of several long battles with hitters. The Times reports that Leiter went through "two 12-pitch at-bats, two nine-pitch at-bats and one eight-pitch at-bat" all in a six batter stretch.

Is Mayor Bloomberg's secret strategy "no publicity is bad publicity?" At NYU's commencement, he called fellow honoree Joe Torre "Joe Torrez." Jeez, even Gothamist knows that's wrong. Newsday also reports that a "handful of graduates stood and turned their backs on the mayor as he spoke protesting a gaggle of issues, from homeless policies to social-service cutbacks to certain university investments." Gothamist would like to know if anyone was smoking.