Gothamist
A non-profit newsroom, powered by WNYC.
Gothamist
Listen Live
News
MLB Approves Three Bidders For Mets As Change Looms
By
Ben Yakas
Published Mar 18, 2011
Modified Mar 18, 2011
Share
FacebookTwitterRedditEmail
Never miss a story
Email address
By submitting your information, you're agreeing to receive communications from New York Public Radio in accordance with our Terms .
By
Ben Yakas
Published Mar 18, 2011
Modified Mar 18, 2011
Share
FacebookTwitterRedditEmail
We rely on your support to make local news available to all
Make your contribution now and help Gothamist thrive in 2026. Donate today
Gothamist is funded by sponsors and member donations
Major League Baseball has approved at least three potential investor groups to make bids on the financially unsound Mets. The Mets owners' investment company, Sterling Equity, is in the midst of a complicated lawsuit stemming from perceived Madoff "profits"; the Wilpons have already agreed to sell a minority share of the team to offset any fiscal problems caused by the suit. But even if they sell 49 percent or less of the team, there's still a chance they may be forced to sell the team in the near future.
Among the bidders that have been approved are a group led by the team of Goldman Sachs's David Heller and Apollo's Marc Spilker, and another including Steve Starker, co-founder of the global-trading firm BTIG and Ken Dichter, the co-founder of Marquis Jet. Many others have expressed interested in bidding for the team, including Georgi Vodka owner Martin Silver, Martin Luther King III, and Donald Trump. The team had already taken a $25 million loan from MLB in the fall, before the lawsuit had even been filed, which gives you some idea of how they're doing financially.
Even if they do sell 25-49 percent of the team, the Wilpons may not be able to hold onto the club if their $300 million Madoff lawsuit drags on. The Post suggests that the current Tampa Bay Rays owner Stu Sternberg could buy the Mets in a complicated scenario that could involved the Rays and A's either contracting into one, or one team moving. Either way, it's obvious that change is a'foot for the Mets: today, they released second basemen Luis Castillo, who has been with the team for nearly four years, with one years and $6 million still left on his contract.
Tagged
basebbal
change
luis castillo
madoff
mets
mlb
wilpons
Ben Yakas
Ben Yakas is a former Gothamist reporter.
Read more
Gothamist is funded by sponsors and member donations
Gothamist is funded by sponsors and member donations
MORE news
Man shot by ICE in NYC still has bullet lodged in neck, attorneys say
Oscar Belgal, a 28-year-old immigrant from the Dominican Republic, was in solitary confinement at the Metropolitan Detention Center in Sunset Park on Monday.
By
Liam Quigley
Published Oct 12, 2026
NY measles spread prompts 'disaster' emergency. It didn't have to be this way, health commissioner says.
The state health commissioner says the disease outbreak is wholly preventable.
By
Elizabeth Shwe
News
NY measles spread prompts 'disaster' emergency. It didn't have to be this way, health commissioner says.
The state health commissioner says the disease outbreak is wholly preventable.
By
Elizabeth Shwe
NYC wants to move deliveries onto the waterways. It's starting with a 55-year-old boat.
By
Liam Quigley
Inside the luxury Greenpoint high-rise powered by a rumbling generator for over a month
By
David Brand
Mayor Mamdani orders review of NYPD use of force policies
By
Michael Sol Warren
Never miss a story
Catch up on the most important headlines with a roundup of essential NYC stories, delivered to your inbox daily.
Sign upEmail address
By submitting your information, you're agreeing to receive communications from New York Public Radio in accordance with our Terms .