It’s amazing that Uncle Saul Katz didn ‘t end up like Maurie Kessler (a/k/a Maurie’s Wigs) in Goodfella’s. The crew, especially Jimmy The Gent couldn’t take Maurie’s constant talking and ball breaking so they had him snuffed.
It seems Bernie Madoff felt the same way about Uncle Saul who it seems just couldn’t shut the fuck up about the windfall profits he and his bother in law Freddy Skill Sets were making investing with Madoff. Bernie got a little nervous with Uncle Saul as he worried that some real honest to goodness financial advisers would hear big mouth Saul chirping at the Mahjong table.
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The thing that bothers me in all the reading I’ve done over the past few days is how leveraged the Wilpon ownership has allowed the Mets to become. There’s an article in Forbes that indicates the Mets franchise is worth $858 Million, but if you count all the debt, they’re worth NEGATIVE $255M.
It’s as though the Mets were run as a Ponzi scheme. So long as there was money flowing in (from Madoff’s Ponzi scheme, from other debt financing) there was money to invest in the team.
Once the cash flow shut, so did money for the team’s day to day operations.
This is very scary in the short term, and it certainly explains the lack of action this off season.
For the long term, if it forces an ownership change, then it could be very good for Mets fans. Just look at the result in Texas last year. I’m not saying World Series, mind you, just simple financial stability and a competitive team would be a great start.
We’re so sorry Uncle Saul……..
Required reading:Requiem For A Baseball Team: Lessons From The Death Of The New York Mets
http://blogs.forbes.com/mikeozanian/2011/02/06/requiem-for-a-baseball-team-lessons-from-the-death-of-the-new-york-mets/
@Gary –
The more stories that come out about the Skiil Sets involvement and the lies they have told us about this Ponzi scheme having no effect on the baseball organization makes me wonder if they were not as close friends with The Used Car Salesman, MLB would have taken control of the team by now and then find a buyer.
@Michael –
I have read a few of Ozanian’ posts on the Skill Sets and I have say what I write about Freddy, Jeffy and Uncle Saul are love letters compared to Ozanian
Krane, they need to sell now…to anyone but the Dolans.
More examples of Beavis Selig’s complete and total dis -association from reality.How could they NOT insist on knowing what was going on when this shitstorm appeared?Was Bud Selig hired to destroy baseball? I am serious , because someone who wanted to intentionally destroy something could not have done a better job.My God, the Mets, from Joan Payson to Madoff. {the sound of head banging} is there no depths that this franchise cannot reach?
Great movie reference! One of the all time greatest scenes ever.
Maury’s wigs, DON’T COME OFF! Even under the water.