'Real Time''s Bill Maher reveals real amazing investment

Comic says he purchased minority stake in New York Mets; laughing stock?
MAR 19, 2012
By  John Goff
Political comedian Bill Maher disclosed that he bought a minority stake in the New York Mets when the majority owners were selling portions of the franchise earlier this year to cover debt. Maher, who hosts Home Box Office Inc.'s “Real Time with Bill Maher,” was born in New York City and said he's been a Mets fan since he was six years old. He attended last night's 6-1 win over the St. Louis Cardinals at Citi Field and was on the field for pre-game batting practice with Mets chief executive officer Jeff Wilpon. “I've really never wavered in my love for this team,” Maher, 56, said in a video posted on the Mets' official Twitter feed. “We were thrilled in '69, we were thrilled in '86 and I think we'll be thrilled again very soon. You've got to believe and I do.” Maher didn't disclose what his ownership stake is. So far, the Mets have played well in the early part of the MLB schedule. The club is coming off several years of poor play, however. In each of the past three seasons, the Mets have finished below .500 -- and have been considered something of a laughing stock given the team's sizable payroll. Mets owners Fred Wilpon and Saul Katz in March sold 12 minority stakes in the team for $240 million and used the sales to repay $65 million in loans from Major League Baseball and Bank of America Corp. and at least $100 million of debt. Wilpon and Katz in March also agreed to pay $162 million to settle a $1 billion lawsuit from Irving Picard, the trustee responsible for liquidating Bernard Madoff's defunct firm, over whether the Mets' owners and others blinded themselves to Madoff's Ponzi scheme because it benefited their businesses financially. --Bloomberg News--

Latest News

RIA moves: True North adds $353M California RIA as SageView grows North Carolina presence
RIA moves: True North adds $353M California RIA as SageView grows North Carolina presence

Plus, a $400 million Commonwealth team departs to launch an independent family-run RIA in the East Bay area.

Blue Owl Capital, Voya strike private market partnership for retirement plans
Blue Owl Capital, Voya strike private market partnership for retirement plans

The collaboration will focus initially on strategies within collective investment trusts in DC plans, with plans to expand to other retirement-focused private investment solutions.

Top Commonwealth advisor to recruiters: Stop with the cold calls already!
Top Commonwealth advisor to recruiters: Stop with the cold calls already!

“I respectfully request that all recruiters for other BDs discontinue their efforts to contact me," writes Thomas Bartholomew.

Why AI notetakers alone can't fix 'broken' advisor meetings
Why AI notetakers alone can't fix 'broken' advisor meetings

Wealth tech veteran Aaron Klein speaks out against the "misery" of client meetings, why advisors' communication skills don't always help, and AI's potential to make bad meetings "100 times better."

Morgan Stanley, Goldman, Wells Fargo to settle Archegos trades lawsuit
Morgan Stanley, Goldman, Wells Fargo to settle Archegos trades lawsuit

The proposed $120 million settlement would close the book on a legal challenge alleging the Wall Street banks failed to disclose crucial conflicts of interest to investors.

SPONSORED How advisors can build for high-net-worth complexity

Orion's Tom Wilson on delivering coordinated, high-touch service in a world where returns alone no longer set you apart.

SPONSORED RILAs bring stability, growth during volatile markets

Barely a decade old, registered index-linked annuities have quickly surged in popularity, thanks to their unique blend of protection and growth potential—an appealing option for investors looking to chart a steadier course through today's choppy market waters, says Myles Lambert, Brighthouse Financial.