The Fred and Jeff Wilpon era has a shelf life. They are in the process of selling 80 percent of the Mets to hedge-fund billionaire Steve Cohen, who would become the majority owner in five years. Here are three highs and lows of the Wilpons’ time as Mets owners:
Highs
- Fred Wilpon becomes majority owner of the Mets in August 2002, purchasing Nelson Doubleday’s 50 percent share in the franchise after accusations between the two of misconduct over how much the team was worth. The two had been 50/50 owners dating back to 1986. At the time Wilpon bought the team from Doubleday, the Mets were valued at $391 million. Today, they are worth an estimated $2.6 billion according to Bloomberg News.
- In the span of a month, the Mets go big in free agency, signing Carlos Beltran and Pedro Martinez, two marquee players who contributed to four straight winning seasons and the 2006 NL East crown.
- In 2015, for the first — and only — time since the Wilpon family took over sole ownership of the franchise, the Mets reach the World Series. It’s a stunning run, considering the team was only one game over .500 on July 24. The Mets overtake the Nationals in the NL East and sweep the Cubs in the NLCS. However, they lose in five games to the Royals in the World Series.
Lows
- Citi Fields opens in 2009, but lacking much Mets history. There isn’t a single room or hallway or wing in the stadium dedicated to great players of the past, leading to predictable fan backlash.
- Fred Wilpon rips his three best players in a 2011 New Yorker article, as the team is on its way to a third straight losing season. He says David Wright is “not a superstar.” He faults Carlos Beltran for being “65 to 70 percent of what he was” before coming to the Mets. Of Jose Reyes, Wilpon says: “He thinks he’s going to get Carl Crawford money. He’s had everything wrong with him. He won’t get it.” Reyes winds up signing a six-year, $106 million contract with the Marlins that winter.
- Following the Bernie Madoff Ponzi scheme discovered in 2008, the Mets don’t spent money the same way, and are criticized by fans for running the organization like a small-market franchise. Fred Wilpon and brother-in-law Saul Katz, investors with Madoff, reach a settlement in 2012 in which they pay back $162 million they had received from Madoff. Two years prior, the Wilpons receive a $25 million loan from MLB to help with finances. Aside from a few big contracts, they have declined to go after the big free agents.
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