Fred Wilpon Unplugged, Part II: Mets Are ‘Bleeding Cash’

NEW YORK (WFAN) — Fred Wilpon’s “lousy club” could lose up to $70 million this year, according to a second headline-grabbing profile of the Mets’ embattled owner to surface this week.

The New York Daily News reports that Wilpon, already under the microscope for sharply criticizing Jose Reyes, David Wright and Carlos Beltran, told Sports Illustrated that the club is “bleeding cash.”

The story will appear in this week’s magazine.

Though he didn’t identify any bidders, Wilpon also told SI that he could have an agreement to sell a partial stake in the franchise within three weeks. One of the leading contenders has reportedly not yet been mentioned by the media.

LISTEN: Joe & Evan, SI’s Tom Verducci on his upcoming Wilpon profile

Wilpon also said he’d be willing to discuss a settlement for $295 million in what Irving Picard, the trustee for the victims of Bernard Madoff, calls fictitious profits — but not the $700 million in principal invested years before Madoff’s arrest.

“Gov. (Mario) Cuomo has not been able to at this stage convince them that the 700 is not going to be obtainable,” he said.

Wilpon said if Picard’s lawsuit is successful, it could cost him full ownership of the Mets.

A profile of the owner in The New Yorker created a firestorm on Monday. In the article by Jeffrey Toobin, Wilpon called Wright “not a superstar,” said Reyes “won’t get” a Carl Crawford-type contract and pronounced Beltran to be “sixty-five to seventy percent of what he was.”

He also called the Mets a “lousy club” and a “sh–ty team” in the piece, adding, “we’re snakebitten, baby.”

Should Wilpon apologize to Mets fans? Comment away below…

  • Elias Chan-Sui

    Right on Wright. He never was a superstar. He’s only a star because he plays in NY and he’s physically attractive to certain types. Almost right on Beltran; he’s about 80-85% as what could be expected of what he should be at THIS age. Wrong on Reyes. Now we can see why Fred has no business running a sports business. He doesn’t have a clue about what the market will bear. The only way Reyes doesn’t get Crawford money is if he has a mediocre year AND ends the season on the DL. Fred and Jeff need to go. A standup man wouldn’t publicly pick at his employees. He’d point out his own failures as steward of his franchise.

  • Tom

    Ding! Guess what, I think it’s more than over due to sell the team and sell fast. What do you think Fred? No…….Really – why not? You say, “because you own the team, you can care less about what’s good for the city of NY, you don’t give a damn about what the fans want or think, it’s you own little private toy franchine and you don’t want anyone else to play”. Tisk, tisk, what a selfish spoiled little billionare. Eventually the Mets will have a new owner either sooner of later. It just a matter of time.

  • ED


    • marty k

      Wiplon who hired Castillo, Moises Alou and Oliver Perez? Who traded away Kazimir. U R a Dolt.

  • nick kriticos

    Thanks Bernie

  • Clark Kentt

    This guy is a bum, he needs to sell the team 100% ownership.

  • dabooch

    Put the tarp on it Fred. Bernie Focker Ponzi scheme got you, because you were greedy. 15% yearly returns despite market conditions you dope. Beltran never showed Bonds type preformance other then the series in Huston Texas. D Wright looks like a model but plays like a dog at times, but he has good numbers, almost 30HRS per year isn’t bad. Reyes, you got a great deal on the early lease, your right Reyes is playing his butt off now that he’s looking for a long term contract, sorry Jose’ even the dope is on to you.

  • Jim Pluchino

    Fred is losing his mind. sell the team!!.

    • Ron Davis

      you are giving Fred too much credit for having a mind. but totally agree sell the team keep players here let new ownership decide on who stays or goes But not you.

    • Paul O'Donnell

      Fred, I’m begging you, SELL THE TEAM!!!!

  • The Chosen One

    Early this spring some Mets fans got upset with Tim McCarver for saying the Wilpon/Madoff was going to be a distraction for the team during this season & he was right.

    I believe he also said Reyes & Wright were overrated, just like Wilpon just said.

    He also said this was going to cause the Mets to be a last place team and they are. He’s right again.

    Damn!!, seems like McCarver is a prophet.

    • Ron Davis

      no offense to you or Mccarver it does not take a einstein to see Fred and Bernie were sleeping together financially in bed. bad market but Fred always seem to be winning. The Charlie Sheeen of baseball lol Time to sell and take your bozo son and brother in law with you.

  • Marc Weiss

    He shouldn’t apologize for saying the truth, albeit the partial truth. The full truth is that he and his dimwit son spent more time trying to build the new Ebbets Field instead of a winning Mets ballclub. It’s time for him to sell his team and ride off into the sunset and handle his financial woes. I hate seeing other folks in economic peril, but I’m forced to root for Picard, because if he wins he Met fan wins. This is going to be worse than the M.Donald Grant era. Citifield is beginning to resemble Grants Tomb.

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