Step up to the plate to own piece of NY Mets

You have to strike while the iron’s hot and for Mets ownership the time is now with the team off to a hot start.

Wealthy Mets fans who want a piece of New York’s National League baseball team are about to get their chance.

Six years ago, when team owners Saul Katz (far left) and Fred Wilpon were being sued by Irving Picard, the trustee representing Bernie Madoff ’s victims, they sold a dozen 4 percent shares of the team to raise cash. Some of those investors now plan to sell their shares, according to people familiar with the matter.

The investors involved requested anonymity because the matter is pri- vate. The Mets declined to comment.

In 2012, the Mets sold the stakes for $20 million each. The owners ended up settling the lawsuit for $162 million. Some of the cash raised from investors was used to repay loans, cover operating expenses and reduce debt.

According to the terms of the original sales, the new investors were guaranteed 3 percent interest, compounded annually, for six years. The investors had no control over the team, but they were exempt from capital calls during that time.

They also received some inventive perks, including access to Mr. Met, the team’s mascot, and a formal busi- ness card with the “owner” designation. They were also given a parking spot and one day to play on the field when the team was away.

Wilpon and Katz are entitled to buy any offered shares at their full value but are unlikely to do so, according to the sources. Forbes says the team is worth $2.1 billion, which would value the minority stakes at more than $80 million each. Limited partnerships without operational control or board seats are often sold far below their appraised value.

The sources didn’t disclose which investors are selling or how much of the stakes will be available.