Fred Wilpon, Jeff Wilpon and Saul Katz.
They built their fortune on the biggest Ponzi scheme in history. When that bubble burst they decided to replenish the stolen money they lost with Mets revenue. Or as Fred put it...
I'm still not convinced the Wilpons will spend very much going forward."It wasn't, as people have written, the reason," Wilpon said about the Madoff issue and payroll slashing. "It was a balance there, because we had to make sure the banks got paid off all of the debt. There's no one in my family -- there's the Katz family, the Wilpon family, kids -- [that now] has any personal bank debt. Zero. Everything has been paid. We don't owe a dollar to anybody. We have mortgages on buildings and stuff like that, but we don't owe a dollar.
"That's what made us tight. We were still getting revenues. Lots of revenues. But those revenues were going to pay off debt. That's done."
Most Mets revenue is derived from television. Because the bulk of SNY revenue is based on the number of cable subscribers rather than Mets advertising revenue, there's little incentive for them to spend much on improving the team. How good or bad the team is has only a limited effect on revenue.
The Mets play in the biggest market in sports, the Wilpons have one of the most lucrative T.V. deals around, yet the team has one of the lowest payrolls in the game - especially when you consider all the salaries they deferred from this year into the future.
The Wilpons are the problem.
Remember that next time someone posts a tirade about Ike or Marcum or Terry or whoever.