Logo

Brings new meaning to the investing term, friends and family.

Buyers of the Mets minority stakes were predominantly friends of the controlling Wilpons or had a financial interest in seeing them retain control, The Post has learned.

Clear Channel CEO Bob Pittman and venture capitalist Kenneth Lerer were part of one group that bought a $20 million stake in the Mets, a source said, confirming a WSJ.com story. Lerer is a pal of Fred Wilpon.

The Wilpon-controlled SNY cable network’s minority owners, Time Warner Cable and Comcast, also ponied up, as well as executives from those cable companies, a source following the situation told The Post.

After closing the sale of the stakes last week, the Mets paid down their debt to avoid a possible default.

A source who considered investing said, “You are paying full price for something that is not liquid and in which you have no control. You would not want to invest unless it helped your business, or you cared about the Wilpons.”

The Mets’ $240 million stake sale closed before Monday’s settlement with the trustee handling claims against Ponzi schemer Bernie Madoff.

The Mets declined comment.

Comments
anonymous profile image
Powered by RoundtableBuilt on infrastructure designed for real-time media. Learn more at RTB.io.© Roundtable 2026. By using this site you agree to the Terms of Use and Privacy Policy