NY Post

Two Cable Giants Struggle to Sell Their Interest in MLB Team

Oct 1, 2018  •  Post A Comment

Two big cable operators want to unload their interest in the Major League Baseball team the New York Mets, and are reportedly having a hard time finding a taker.

The New York Post reports that Comcast and Charter Communications are looking to sell their combined 12 percent stake in the franchise, which just wrapped up its second consecutive losing season.

“The two minority owners have been trying since mid-summer to sell their stake — but the response has not been overwhelming, The Post has learned,” the paper reports. “The sellers, working through investment bank Inner Circle Sports, hope to sign a deal before MLB’s Winter Meetings, which begin Dec. 9, two sources close to the matter said.”

The stake is said to be worth about $250 million, based on a Forbes estimate valuing the team as a whole at $2.1 billlion.

Attendance this season was down to about 2.1 million, after the Mets drew 2.8 million in 2016, the story reports.

“The selling minority owners are willing to consider a discount on the Mets’ $2.1 billion Forbes valuation, a source said — and should be happy if they get a valuation of over $1.7 billion,” the report adds.

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