Thursday morning applesauce: Mets stadium rating downgraded, Cohen looking at Dodgers

by Stephen Schmidt on Dec 29, 2011 9:06 AM EST in Applesauce

With no TRAID news involving the Mets to tell you about, we'll start off the day with yet more information about the Mets financial woes. Standard & Poor's has cut the Mets stadium rating to below investment grade due to the club's declining revenues and attendance figures. I don't know that this means a whole lot in and of itself, but it should be yet another red flag for Bud Selig to ignore that the Wilpons really need to sell the club asap.

In other investment news some of you may remember when Steven Cohen was looking to purchase a fairly large minority share of the Mets. That deal seemingly fell through due to the Wilpons objections, but now Cohen has moved on to inquiring about purchasing the Dodgers. I guess that's one less potential Wilpon replacement.

Rising Apple compiled a list of the Mets new years resolutions. Who actually follows through on those anyway...

Rob Neyer took a little deeper look at that nasty Wright for Phillies prospects rumor that popped up last week. While I agree with his general assessment, I think he may be underestimating Ruben Amaro Jr's ability to overpay after he identifies "his guy". I love that Omar Minaya is still employed in the division...

The other third baseman in NY was in the news yesterday as well. A-rod's knee has been troubling him, so naturally he's heading to Europe for an experimental treatment. Luckily for Yankees fans, the Steibrenner piggybank probably has enough pennies to avoid this being catastrophic to the franchise.

The Red Sox pulled off a long expected TRAID yesterday by acquiring Andrew Bailey from the A's. John Sickels took a little deeper look at the prospects the A's acquired for their closer over at his blog. Maybe it's just years of closers being overvalued finally coming to an end, but it really seems like the Red Sox parted with a pretty light package to add Bailey.

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I know this is likely to send some Mets fans into apoplectic fits

but if A-Rod is done, what about traiding David Wrongz to the Yankees for one or two of their stockpiled pitchers?

by chakrabs on Dec 29, 2011 9:53 AM EST reply actions

anything that helps us win in 2013-14...

I am OK with. No pain, no gain

by neoncleon on Dec 29, 2011 10:59 AM EST up reply actions

Unless he actually retires

He makes waaaaaaaaaaaaay too much to be benched. He ain’t goin’ unless it’s of his own volition

The artful muppet formerly known as KrmtDfrog.
Please read my sardonic wit and over-blown sense of self over at headkicklegend.com

by Cory Braiterman on Dec 29, 2011 11:14 AM EST up reply actions

I a big fan of objective analysis treating players as commodities

but I’m a fan of the Mets first and foremost, and if this happens, I think it would be the deathknell of my Met fandom.

Objectively, yeah, sure maybe it might make sense if we’re blown away by a prospect package, but at the same time, my fandom is a subjective, emotional thing, and there is simply no way on god’s green earth my fandom could survive that intact. So just HELL NO.

I’d rather suffer through many more mediocre DW seasons than watch him go cross town to do it.

by SoCal Metfan on Dec 29, 2011 11:50 AM EST up reply actions

I don't want to trade him for one pitcher who isn't as good as Wheeler or Harvey

So screw that, they can keep their self-entitled shit and I’ll take 15 below replacement level seasons of Dubs before I see him dress up in the pinstripes of arrogance.

"Let them be stud muffins"
-Tom Seaver
Proud Mets, Jets, Knicks, Islanders fan.

by piazza62 on Dec 29, 2011 3:02 PM EST up reply actions

im not an expert on bonds

but i dont think that ratings has much of an effect on anything. its just a reflection of whats already been going on. that the stadium bonds are being treated as risky and thus can be bought at below par (ie 83 cents on the dollar according to the article). the mets (or the stadium) already has the money they borrowed and they still have to pay it back. its just that some people think theres a chance of default due to declining stadium related revenues so they’re willing to to sell the bonds for less than what they paid for it. S&P is just adjusting its rating to reflect how the bonds are being traded.

so it matters to people in the bond market but operationally means nothing to the mets. its more evidence that the mets are not making as much money as they used to, but you dont need their stadium bond ratings to figure that out.

be curious to see what other stadium bonds are rated as a comparison, not that it makes much of a difference for each case.

HELLO HELLO MR WILPON... BUY THAT MANSION. WE DONT NEED A CONDO.

by kendynamo on Dec 29, 2011 11:08 AM EST reply actions

It should hurt the ability of the Wilpons to borrow more money

Therefore it should help us get rid of them

by Sir Tmac on Dec 29, 2011 4:54 PM EST reply actions

if they tried to borrow more money on the stadium somehow

then yeah. but if theyre using separate collateral then it shouldnt matter. not that the wilpons have much in the way of equity left to hock.

i think theoretically you could start a movement to stop going to games and watching them on tv, only following the mets on site like AA. a boycott may force the wilpons to sell, since they could still get fair market value assuming the boycott was until the wilpons sold and all the fans would come back to the pre-boycott levels.

but otherwise i dont see the bond rating downgrade having any tangible effect on the wilpons. besides making them look slightly more full of shit maybe.

HELLO HELLO MR WILPON... BUY THAT MANSION. WE DONT NEED A CONDO.

by kendynamo on Dec 29, 2011 6:00 PM EST up reply actions

Boycott.

Save Jenrry Mejia!
2012 Amazin' Avenue Offseason Plan: 2nd place

by Ogre39666 on Dec 29, 2011 6:07 PM EST up reply actions

Hate the Wilpons.

by BurleighGrimes on Dec 29, 2011 5:14 PM EST reply actions 4 recs

If the Wilpon's loved and bleed Blue and Orange like they say they do,they would sell majority

ownership to someone who can afford to bring the franchise back to respectability.What they are doing will not work in the biggest city in the world.New York is the big show and a lot of fans will not support a team filled with "Not Ready For Prime Time Players.Season ticket holders I know 4 out of 6 are not renewing and it would not surprise me to see as many as 40% of tickets not renewed.The Wilpons should settle for one of those $20 million shares.(cash only) and they can still mingle with their kind and establish a first hand relationship with Mister Met and even sit with him during some games

by Putnan Prince on Dec 29, 2011 6:59 PM EST reply actions