As you may have heard, the New York Mets are going through a bit of a rough patch, on account of being screwed financially on their investment with Madoff Securities. They need money and they plan to get it by selling a minority stake in the team. Last month, Steve Cohen put in a bid and while other financiers might buy pro sports teams to fulfill some sort of childhood dream, SC is doing so because he believes the ball club is on the brink of greatness.
Commissioner Bud Selig does not believe the Mets are as in bad shape as the Los Angeles Dodgers, and apparently the investment groups interested in purchasing a minority share agree with him. The Mets are currently struggling on the field and at the box office, but owner Fred Wilpon's potential partners believe the club will be able to turn things around quickly, according to financial industry sources. The investment groups believe general manager Sandy Alderson will build a competitive team within two or three years; an improved club means increased attendance, television ratings and revenue. "It's a New York sports franchise, so if you put a decent product on the field, you will see things improve," one source said.
And the 2-3 year projection doesn't even take into account Steve's rumored suggestions for improvement. If those are implemented, sources say this thing could get turned around in 2-3 months. Reps for the hedge fund will be messengering a series of training tapes to Queens, shot by SC during his own stint playing ball with the Fairfield County winter league. Start with "Bring the Power" and work your way through. As a newly winning organization must be great from top to bottom, SAC employees are advised to start perfecting their peanut vending yell now, because you will be taking over these positions.