May 7, 2013; New York, NY, USA; New York Mets owner Fred Wilpon walks off the field after watching batting practice before the game against the Chicago White Sox at Citi Field. Mandatory Credit: John Munson/THE STAR-LEDGER via USA TODAY Sports

After report emerges, Saul Katz says he isn’t selling stake in Mets


Early Monday, a report in the New York Times indicated that Saul Katz, who owns a majority share of the Mets along with Fred Wilpon, was interested in selling his stake. Said the report:

Saul B. Katz, who owns a majority share of the Mets in a partnership with his brother-in-law and business partner, Fred Wilpon, has expressed a desire to sell his portion of the team because he has grown tired of spending millions to prop it up, according to several people in baseball who have been briefed on the matter.

But Katz has been hesitant to sell because it could lead to situations that would jeopardize Wilpon’s continuing control of the club, according to the people familiar with Katz’s situation. As a result, Katz remains locked into subsidizing part of the team’s losses in an effort to bolster Wilpon, who considers the team a family heirloom and wants his son Jeff to control it for years to come.

Later in the day, Katz released a statement that refuted the report:

I have no intention of selling my share of the Mets nor have I ever had any intention of selling my share.

Thoughts:

As the Times report notes, if Katz sells his stake in the team, it may lead to the Wilpon’s no longer being the majority owners. That would certainly create an interesting situation.

At this point, though, this is nothing more than a report (Katz’ supposed interest in selling) and a denial (Katz’ vehement refutation).

 

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Tags: Fred Wilpon New York Mets Saul Katz

  • Ken Meoni

    Do us all a favor and sell!