Source: Wilpons Meet With Selig, Discuss Mets’ Finances

NEW YORK (WFAN/AP) — The New York Mets’ owners met with Baseball Commissioner Bud Selig on Tuesday to discuss the team’s finances.

A person familiar with the meeting says it involved owner Fred Wilpon, team president Saul Katz and chief operating officer Jeff Wilpon and took place at the commissioner’s office. The person spoke on condition of anonymity to The Associated Press because the meeting wasn’t announced.

Selig is in New York for another event, and the meeting has been scheduled for about two weeks, the person says.

LISTEN: Boomer & Carton talk Mets-Wilpon saga with Erin Arvedlund, author of Too Good to be True: The Rise and Fall of Bernie Madoff

The Wilpons announced Friday they will consider seeking a minority partner to invest in the Mets.

Fred Wilpon said the decision to explore new investors was created by uncertainty caused by the lawsuit filed last month by trustee Irving Picard, who says the Mets made nearly $48 million in Bernie Madoff’s Ponzi scheme. He said the Mets Limited Partnership originally invested about $523 million, but eventually withdrew about $571 million from the accounts.


Sandy Alderson insisted on Monday that the Wilpon-Madoff saga isn’t limiting his moves as the Mets’ new general manager.

“When I interviewed and took this position, I was of course aware of the pre-existing involvement of the Wilpons and the Mets with Bernie Madoff,” Alderson said Monday. “I wasn’t privy to all of the detail, nor am I or most of us at this point privy to all that detail, and I wouldn’t expect to be. At the same time, none of that has affected what I have done over the last two months and I don’t expect that it will have any impact on what I do over the next several months, including into the 2012 offseason.”

Also on Monday, Martin Luther King Jr.’s oldest son said any discussion of his potential interest in becoming a minority owner of the Mets is premature.

Martin Luther King III said he was contacted Saturday by television executive Larry Meli, who is interested in putting together a group that would include former Mets first baseman Ed Kranepool and Donn Clendenon Jr., whose father was MVP of the Mets’ 1969 World Series victory.

King said he encouraged Meli because it would increase diversity. But King also said he was not actively putting together a group.

“This was blown up way out of proportion,” King said in a telephone interview with The Associated Press. “While I’m not leading a group and I’m not having direct conversations with the Wilpons, I think it is very important to promote diversity in ownership.”

Will the Wilpons be forced to sell more than 25%? Sound off in the comments below…

Copyright 2011 The Associated Press.

pixy Source: Wilpons Meet With Selig, Discuss Mets Finances
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  • shelly

    what is proven over the last 10 years is the wilpons are not too bright..i dont think they’re crooks, just not the sharpest tool in the dugout..when bobby bonnila was owed about $5m or so we all wondered how the mets would rather give bonnila $1m a yr for 15 yrs than $5m upfront..its because they had a golden goose in madoff..if this goes to court the wilpons will not be found guilty cause they’ll just plead ignorance..this proves you dont have to be smart to be successful just lucky

  • Bobbyde

    Sell the team,you haven’t done anything for it or the fans. You are a joke.

  • HarryHong

    Selig should have been talking to the Wilpons over the past 10 years of failure in general, this should be the icing on the cake to force them to sell and get out of dodge.

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