Mar 1, 2011, 10:48 PM EST
We learned earlier today that the Mets are currently seeking another loan to cover operating expenses. Well, according to David Waldstein of the New York Times, they won’t be able to look to Major League Baseball to stay afloat for the long-term.
The league already extended a $25 million loan to the Mets in November, but Waldstein reports that they won’t make another significant loan to the club.
The two people briefed on the situation said baseball could conceivably re-evaluate its position in the coming months if it thought it needed to protect its larger interests, like trying to avoid a fire sale of one of its elite clubs. In addition, with opening day a month away, baseball could make a modest short-term loan to help the Mets avoid defaulting on certain payments, like player salaries. But it would not be enough to rescue the Mets’ owners in any long-term sense, the people suggested.
“It’s tapped out,” one of the people briefed on the situation said, referring to the availability of more money.
The Mets may end up borrowing against the value of the team in an effort to run out the clock on a potential sale, but I can’t help but feel the Wilpons and Saul Katz are headed down the same road as Tom Hicks from a couple of years ago.
- Report: Two agents rumbled in the parking lot at the Winter Meetings 30
- Mets sign 40-year-old Bartolo Colon for two years, $20 million 39
- MLB rules committee decides to eliminate collisions at home plate 63
- Mariners sign Corey Hart to incentive-laden deal 28
- David Price would not consider an extension with the Mariners if he’s traded there 35
- Robinson Cano agrees to $240 million deal with Mariners (260)
- Report: Mariners willing to offer Robinson Cano a 10-year, $240 million deal (143)
- Report: Yankees have agreed to a three-year deal with Carlos Beltran (125)
- Not everyone is happy about home plate collisions being taken away (116)
- Brett Gardner is drawing “significant” trade interest (113)