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RE: LeoThread 2024-11-03 15:47

The publisher Doubleday & Co. bought the Mets on Jan. 24, 1980, from the family of founding owner Joan Payson for $21.1 million, with the company owning 95% of the team and Fred Wilpon controlling 5%. When Doubleday & Co. was sold to Bertelsmann AG, the publisher sold its shares of the team on Nov. 14, 1986, for $80.75 million to Fred Wilpon and Nelson Doubleday, who became 50-50 owners. That sale happened weeks after the Mets won their second World Series title following the surprise championship by the 1969 Miracle Mets.

Fred Wilpon and his Sterling Equities partners headed by brother-in-law Saul Katz completed his buyout of Doubleday on Aug. 23, 2002, ending what had become an acrimonious partnership. Under the original appraisal, Doubleday would have received $137.9 million -- half the team's $391 million value after accounting for debt. Wilpon sued, and the sides then settled.