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Feb
28

Bobby Valentine lining up bid to buy Mets?

By Allan

New York Mets fans may not have gotten former skipper Bobby Valentine to lead their team on the field for 2011, but he may be apart of the team in the near future.  According to a baseball official close to ESPNNewYork.com and Adam Rubin, Valentine has spoken with investors to buy a portion of his former employer.

“I’’ve talked to a number of people interested in purchasing part of the New York Mets, but I’’m not formally with any group that is actively pursuing this venture,” Valentine said.

The Mets’ ownership recently expressed an interest in selling 20-25 percent of the team in the wake of a lawsuit brought upon them by victims of the Bernie Madoff Ponzi scheme.  That portion is valuated in the neighborhood of $214.5 million.

Additionally, the team acknowledged that they received a loan from Major League Baseball to deal with their cash flow shortage.  The loan is believed to be at least $25 million.

Valentine is currently an analyst for ESPN.  He last managed the Mets in 2002 before he was fired after the season.  It was almost certain that Valentine was going to become the manager of the Florida Marlins in mid-2010.  Ultimately the organization decided to go in another direction with Edwin Rodriguez.

Categories : team