Should Cohen complete the transaction at the $2.6 billion valuation, the Mets will have appreciated by an average of 11.8% per year since Fred Wilpon took full control of the team in 2002. That blows away the S&P 500’s 7.3% annualized growth rate over the same period . And that appreciation doesn’t account for dividends; over the last five years alone, the Mets have averaged more than $30 million in annual operating income.
The Wilpons’ tenure has been fraught with accusations of mismanagement. The Mets and regional sports network SNY—also owned by Sterling—are loaded with debt as a result of Bernie Madoff bilking the team’s owners. Deferred payment clauses have the team still paying players who retired two decades ago.
. But even those sorts of gaffes aren’t enough to slow the astounding growth of pro sports franchise values.
Cool so let’s get a guy who was one phone call away from going to jail FOREVER for insider trading
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