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"Free at Last. I Have a Scheme..."
allen griggs
Member Posts: 35,692 ✭✭✭✭
Updated: January 30, 2011, 12:53 PM ET
Report: Martin Luther King III seeks Mets
103
By Adam Rubin
ESPNNewYork.com
The son of civil rights leader Martin Luther King Jr. is interested in buying a share of the New York Mets.
Martin Luther King III, who runs the Atlanta-based King Center for Nonviolent Social Change, is part of a group wishing to purchase a share of the club from principal owner Fred Wilpon. The group also includes television executive Larry Meli, ex-Met Ed Kranepool and Donn Clendenon Jr., the son of another ex-Met, the New York Post reported on Sunday.
Fred Wilpon and son Jeff Wilpon, the Mets chief operating officer, announced Friday their intention to potentially sell 20-25 percent of the team to satisfy any judgment or settlement in a lawsuit brought by the trustee looking to recover money for victims of convicted swindler Bernard Madoff's Ponzi scheme.
The group including King III reportedly wants to have at least a 50 percent share of the team, which is a complication, since the Wilpons have stated they only intend to sell a minority share.
"I think in order for it to make sense it would have to be at least a 50-50 arrangement," Meli said.
Others who have expressed interest in purchasing a share of the team reportedly include Mike Repole, owner of Kentucky Derby favorite Uncle Mo, who made a fortune selling Vitaminwater to Coca-Cola. Multiple reports also name Martin Silver, owner of Georgi Vodka, who has been oustspoken about his desire to purchase the club.
The Wilpons are viewed as net gainers in the Madoff scheme by the trustee. The New York Times reported the sealed lawsuit against the Wilpons may seek to recover $300 million in actual gains and up to $1 billion total because of alleged neglect in not recognizing the profit was ill-gotten.
As for the King group, Meli told the Post: "It's fitting with the legacy of Jackie Robinson essentially transferring to the Mets, what better place to have African-American ownership than with the Mets?"
Report: Martin Luther King III seeks Mets
103
By Adam Rubin
ESPNNewYork.com
The son of civil rights leader Martin Luther King Jr. is interested in buying a share of the New York Mets.
Martin Luther King III, who runs the Atlanta-based King Center for Nonviolent Social Change, is part of a group wishing to purchase a share of the club from principal owner Fred Wilpon. The group also includes television executive Larry Meli, ex-Met Ed Kranepool and Donn Clendenon Jr., the son of another ex-Met, the New York Post reported on Sunday.
Fred Wilpon and son Jeff Wilpon, the Mets chief operating officer, announced Friday their intention to potentially sell 20-25 percent of the team to satisfy any judgment or settlement in a lawsuit brought by the trustee looking to recover money for victims of convicted swindler Bernard Madoff's Ponzi scheme.
The group including King III reportedly wants to have at least a 50 percent share of the team, which is a complication, since the Wilpons have stated they only intend to sell a minority share.
"I think in order for it to make sense it would have to be at least a 50-50 arrangement," Meli said.
Others who have expressed interest in purchasing a share of the team reportedly include Mike Repole, owner of Kentucky Derby favorite Uncle Mo, who made a fortune selling Vitaminwater to Coca-Cola. Multiple reports also name Martin Silver, owner of Georgi Vodka, who has been oustspoken about his desire to purchase the club.
The Wilpons are viewed as net gainers in the Madoff scheme by the trustee. The New York Times reported the sealed lawsuit against the Wilpons may seek to recover $300 million in actual gains and up to $1 billion total because of alleged neglect in not recognizing the profit was ill-gotten.
As for the King group, Meli told the Post: "It's fitting with the legacy of Jackie Robinson essentially transferring to the Mets, what better place to have African-American ownership than with the Mets?"