Bill Heyn, James Preissler and John Calce have started Buy the Mets, where, for a $999 share, fans can pledge their money and join together in an attempt to acquire the Mets and the team’s stake in SNY.
Heyn, Preissler and Calce are partners at the investment bank Tritaurian Capital.
“We have a serious plan that should be taken very seriously,” Heyn told the New York Times. “The whole goal is to do this for the people of the city. It would be great to pull the Mets out of their problems and return them to being a championship team. It’s frustrating to see a great sports franchise brought to its knees.”
I asked Maury Brown from Biz of Baseball and he said there is no rule in MLB that prohibits a public group from owning a team. For what ever season, I had been under the impression there was a limit on how many individual owners a team could have, but he says this is not the case.
However, according to the Times, “One obstacle in trying to turn the Mets into a New York version of the community-owned Green Bay Packers is a Major League Baseball rule that the lead investor own at least 10 percent of the team and control 90 percent of the voting shares.”
It’s an interesting idea. Of course, as one league official told me, ‘There is zero chance of this happening,’ mostly because the commissioner’s office and the other owners in the league will most certainly not approve it. But, it makes an interesting statement, which I think is the larger point.