Martin Luther King III seeks NY Mets’ ownership share
It has been recently reported that Martin Luther King III is looking forward to acquire share in the financially hit New York Mets. According to media, the Human Rights advocate is exploring the probability of acquiring nearly half of the team’s share along
with other investors.
Things can get interesting when it comes to power and ownership sharing. There are a lot of businessmen looking to acquire or purchase good profitable stocks in the market, and some recent news pieces focus on the New York Mets, who are in dire need of finances.
The club has been looking for an aid in their operations and while the team pulled down most of the winter break transactions, the club is still looking for a way to pounce on good finance.
Owner of the Mets, Fred Wilpon and his son, Jeff Wilpon, announced recently to sell twenty to twenty-five percent of the company’s ownership to the highest bidder in the market, following a lawsuit filed by a trustee.
The trustee is trying to recover money for the victims of Bernard Madoff’s Ponzi scheme. The Mets are caught in between through their Owners and that makes things difficult for the stakeholders as the season is looking to kickoff in April. The situation
is becoming more famous in the past few days is due to the participation of Martin Luther King III. The icon who runs an Atlanta based King Centre for Nonviolent Social Change, is a surprise entrant in the bidding war between potential investors.
The popular figure is joined by the likes of Larry Meli - television executive, Ed Kranepool – former Met, and Donn Clendenon Jr. – son of another Ex Met. The group has been identified by the media, indicating their desire to own 50% share in the company.
The problem that comes up is the fact that the Wilpons have indicated an interest to sell a minority share. However, that doesn’t matter to Meli who’s right on the mark.
"I think in order for it to make sense it would have to be at least a 50-50 arrangement," Meli said.
In reference to Martin Luther King III’s interest and participation in the group, Meli told the media his take on the partnership.
"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?"
This could turn out to be an interesting development in the coming days, as the clubs line up for the action on the field. The off-field action could be something the fans would like to look into more as the days pass by.
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