The New York Mets had a new suitor emerge on Monday in Philadelphia Sixers and New Jersey Devils owner Joshua Harris reportedly throwing his hat in the ring to buy the franchise.
Harris joins a handful of other potential buyers, including Alex Rodriguez and Jennifer Lopez, who are eyeing to place a bid on the franchise.
Yet, with teams losing revenue due to the suspension of the season, some believe the Wilpons would sell the team at a discount.
WFAN’s Mike Francesa believes that would be “utterly ridiculous.”
“Nobody is getting the Mets 20 cents on the dollar,” he said to open Tuesday’s show. “This is a franchise worth billions of dollars. They’re not giving this franchise away.”
Francesa noted that the Mets, like all teams, may have a revenue shortfall this year but it should not have a significant impact on the overall value of the team.
“The Mets are in such a spot right now where they could give the team away for 20 cents on the dollar — what are you, crazy? One years’ revenue in baseball do not impact the asset that a major league franchise, a big-sport franchise in New York is worth,” he said. “You can’t get your hands on these franchises. They come available once every 20 years if you’re lucky. I don’t understand this. What you do year-to-year with these franchises is the secondary phase of these things.”
Francesa added that everyone in sports – from teams, networks and sponsors – are losing money, but it is such a lucrative business that the Mets should recover from those losses quickly.
“You shut sports down for three straight months. Down to zero. You shut anything down for three months you’re going to hurt it,” he said. “They’re not going to have fans in their buildings this year. Yes, they’re going to take a short-term hit. Everybody is. But in two years it will be forgotten. Will they sell the team in that time period? Yes, I think they will.”