Charles Wang and New York Mets: A Potential Partnership To Help Each Other?
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Let me start out by saying I have no evidence of this actually happening. But, when you think about it at face value, it makes an incredible amount of sense.
Charles Wang, current owner of the New York Islanders, and a billionaire has been struggling to move forward with his Mega Lighthouse Project, which has basically stalled at this point, and potentially puts the future of the New York Islanders franchise at risk.
There are other cities/areas that would line up to potentially woo the Islanders away, whether it's Queens, Brooklyn (both in New York), or places farther away like Kansas City, Quebec, Hamilton, Seattle/Portland or Winnipeg.
A key to the Lighthouse Project is the redevelopment of Nassau Coliseum, a facility that simply is not in the same class as more modern facilities like the Prudential Center of New Jersey, costing the Islanders dearly financially.
The New York Mets of Major League Baseball recently announced they are looking to sell about 20-25% of the ownership in their franchise to help raise money to offset losses from the Bernie Madoff scandal.
With the lawsuit now unsealed, there are all kinds of things people are holding against the Mets, and the rumor mill is running rampant about how much money the Wilpons and team may potentially be on the hook for.
Owner Fred Wilpon's background is in real estate. He has made a fortune through his investments as part of Sterling Equities.
Could you see a partnership between Charles Wang and Fred/Jeff Wilpon work?
Could Wilpon use his expertise in real estate to help bring in a new financial partner in Charles Wang?
Would this be be something that could help out both sides potentially?
Could Wilpon use his resources and contacts to help this project gain enough momentum to happen?
Sure, there are obvious questions that arise, and lots of potential pitfalls. But, if both Fred Wilpon and Charles Wang could sit down and work on a deal, there definitely is at least, there at least is a motive for them to work together to suit each other's needs.
Some of the potential questions that would need to be answered include whether Wang would be interested in investing in the Mets but only as a minority partner?
Does he have enough financial resources readily available to help out the Wilpons?
Do the people of Long Island even want the Lighthouse Project to happen at this point?
There are a lot of questions besides these that would need to be answered for this deal to happen, and while I admit it's extremely unlikely that it will happen, it's exciting to think about the possibilities and opportunities that could arise from the two sports owners working together.
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Levinakl is a Featured Columnist for the New Jersey Devils on Bleacher Report.
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