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
NYC school integration debate exposes tensions between Black parents and Mamdani
Some see a blind spot when it comes to the representation of Black New Yorkers in Mamdani's administration and agenda.
By
Elizabeth Kim
Published Oct 20, 2026 at 6:00 a.m. ET
Queens man charged with hate crime at Jewish-owned bagel shop displaying Israeli flags
Prosecutors say the 22-year-old damaged property outside the Fresh Meadows shop twice in May.
By
Giulia Heyward
News
Queens man charged with hate crime at Jewish-owned bagel shop displaying Israeli flags
Prosecutors say the 22-year-old damaged property outside the Fresh Meadows shop twice in May.
By
Giulia Heyward
MTA train yards are in such bad shape plants are growing out of the roof, watchdog says
By
Stephen Nessen
High-ranking NYC officials to testify in ex-buildings boss Eric Ulrich's corruption trial
By
David Brand
Mamdani launches new team to help NYers keep SNAP, Medicaid benefits
By
Caroline Lewis
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 .