Mets Dangling Access To Mr. Met In Attempt To Attract $20 Million Investors In Team
Since September, the owners of the New York Mets have been trying to raise $200 million by signing on 10 minority owners, who, if they are willing to spring the $20 million asking price, will gain a 4% non-controlling interest in the team. Not a bad deal, but apparently, it isn’t sufficient enough to generate much interest, so the team has decided to dangle one of the organizations most recognizable commodities in an attempt to generate some buzz: Mr. Met.
Obviously, to become a minority owner of a Major League Baseball team — even the Mets — affords a person — at least individuals wealthy enough to make a $20 million investment– some pretty significant bragging rights at the country club, but as mentioned above, the Mets are having difficulty attracting buyers, so the team has come up with some “fringe benefits” that come along with a minority ownership stake in the organization. These nifty little bonuses are spelled out in a term sheet provided to prospective investors by the team, and they are as follows (via The New York Times):
Access to Mr. Met, the team mascot, although the degree of access is not entirely spelled out. It definitely means you, as a part-owner, can schmooze with Mr. Met at Citi Field. It’s less clear whether you could get him to come to your child’s birthday party without a fee.
A formal business card, complete with the prominent designation: “Owner.”
And if you are a wealthy doctor, commodities trader or real estate mogul who wants to try to swat the ball over the newly pulled-in outfield fences at Citi Field on a Mets day off, you are entitled to attend what appears to be an exclusive kind of fantasy camp: “Owners’ workout day.”
Wow. A business card AND guaranteed attendance at an Owners’ workout day? Boy-oh-boy, the team had me at that, but then they throw in access to Mr. Met, the coolest, neatest and most radical baseball-headed mascot in Major League Baseball? Color me impressed!
Oh, and for the prospective minority owner, to sweeten the deal, the Mets are also willing to kick in a single parking pass at Citi Field, the opportunity to throw out a ceremonial first pitch and will assign a team executive to you who will help arrange for season ticket purchases and any other number of needs which a minority stake owner in the Mets might need addressed. What a steal.
But kicking it with Mr. Met? That’s worth the $20 million on its own. If any mascot exudes hipness, charisma and charm which leaves a person with the impression that they have to be around him and bask in all his mascot glory, it’s most certainly Mr. Met.