Comments on: The Mets recently received a $40 million loan from Bank of America http://hardballtalk.nbcsports.com/2011/12/12/the-mets-recently-received-a-40-million-loan-from-bank-of-america/ Baseball. Baseball. And then a bit more baseball. Sat, 25 May 2013 00:19:28 +0000 hourly 1 http://wordpress.com/ By: paperlions http://hardballtalk.nbcsports.com/2011/12/12/the-mets-recently-received-a-40-million-loan-from-bank-of-america/comment-page-1/#comment-235577 Tue, 13 Dec 2011 15:44:25 +0000 http://hardballtalk.nbcsports.com/?p=102991#comment-235577 There is a law suit going on….a lot of that stuff is public information, if you bothered to read it.

The Wilpons bought the Mets almost totally on credit, they built a stadium on credit, they built a RSN on credit with investing partners. They make a lot of money from the RSN, but not the Mets…..and don’t make enough to cover all of their debts.

]]> By: mojosmagic http://hardballtalk.nbcsports.com/2011/12/12/the-mets-recently-received-a-40-million-loan-from-bank-of-america/comment-page-1/#comment-235562 Tue, 13 Dec 2011 15:34:36 +0000 http://hardballtalk.nbcsports.com/?p=102991#comment-235562 Who is stupid enough to give Wilpon 290 million? MLB is backing the smaller loans and that shouldn’t be.

]]> By: mojosmagic http://hardballtalk.nbcsports.com/2011/12/12/the-mets-recently-received-a-40-million-loan-from-bank-of-america/comment-page-1/#comment-235559 Tue, 13 Dec 2011 15:32:00 +0000 http://hardballtalk.nbcsports.com/?p=102991#comment-235559 Who wouldn’t want to pay 20 million for a couple of good seat and a plastic VIP pass?

]]> By: mojosmagic http://hardballtalk.nbcsports.com/2011/12/12/the-mets-recently-received-a-40-million-loan-from-bank-of-america/comment-page-1/#comment-235555 Tue, 13 Dec 2011 15:30:10 +0000 http://hardballtalk.nbcsports.com/?p=102991#comment-235555 You have access to the Mets books?

]]> By: mojosmagic http://hardballtalk.nbcsports.com/2011/12/12/the-mets-recently-received-a-40-million-loan-from-bank-of-america/comment-page-1/#comment-235553 Tue, 13 Dec 2011 15:28:40 +0000 http://hardballtalk.nbcsports.com/?p=102991#comment-235553 .
Selig forced the sale of the Dodgers because of financial concerns but turns a blind eye to the Mets because of his relationship with the Wilpon’s who made a lot of money from their shady dealings with Mr. Madoff. Before people say the Wilpon’s were victims ask the question what were these guys thinking? The Wilpon’s received a 20% return on their money in a stock portfolio for 20 years. Even a simpleton would know that can’t be right yet two astute businessmen never thought to question Madoff? Well the Trustee wants back those ill gotten gains and more and Met fans suffer.Selig needs to force a sale of the Mets sooner rather then latter.

]]> By: Jonny 5 http://hardballtalk.nbcsports.com/2011/12/12/the-mets-recently-received-a-40-million-loan-from-bank-of-america/comment-page-1/#comment-235459 Tue, 13 Dec 2011 13:38:34 +0000 http://hardballtalk.nbcsports.com/?p=102991#comment-235459 The biggest problem I feel Mr. DelMonte is that the Wilpons were using the Madoff fund as their bank basically, and funneled all of their proceeds through Madoff. Everything from ticket sales, to 401K, to Bobby B’s differed money. Then the economy tanked and their real estate, which was bought with borrowed money, wasn’t selling as expected. Those promissory notes still had to be paid and Madoff was promising profits on held money. So why not give him more? It made them more profit in the past…. Then Madoff was shown to be a fraud and the Wilpons are left holding an empty bag and owe tons of money to a whole bunch of people. Even down to Bobby B., and other employees 401Kplans, let alone team held debts.

]]> By: paperlions http://hardballtalk.nbcsports.com/2011/12/12/the-mets-recently-received-a-40-million-loan-from-bank-of-america/comment-page-1/#comment-235447 Tue, 13 Dec 2011 12:37:12 +0000 http://hardballtalk.nbcsports.com/?p=102991#comment-235447 The Mets are making a boat load of money….the problem is that the McCourts didn’t have much non-Madoff money prior to their loans….and they took out loans just to invest them with Madoff….so they are very heavily leveraged, they have bought everything on credit….everything.

]]> By: paperlions http://hardballtalk.nbcsports.com/2011/12/12/the-mets-recently-received-a-40-million-loan-from-bank-of-america/comment-page-1/#comment-235445 Tue, 13 Dec 2011 12:35:45 +0000 http://hardballtalk.nbcsports.com/?p=102991#comment-235445 Considering that everything they did is legal….I’m not sure how the feds can go after them for following the rules. As has been noted before, real scandal doesn’t involve what is illegal, but what is legal.

]]> By: paperlions http://hardballtalk.nbcsports.com/2011/12/12/the-mets-recently-received-a-40-million-loan-from-bank-of-america/comment-page-1/#comment-235443 Tue, 13 Dec 2011 12:33:07 +0000 http://hardballtalk.nbcsports.com/?p=102991#comment-235443 That is part of it, but there have been so many franchises in dire straights that MLB (Selig) has been dealing with them one at a time as long as the other can keep afloat….so far, Texas has been dealt with, now LA is up, next will probably be Oakland, then the Mets.

]]> By: henryd3rd http://hardballtalk.nbcsports.com/2011/12/12/the-mets-recently-received-a-40-million-loan-from-bank-of-america/comment-page-1/#comment-235438 Tue, 13 Dec 2011 11:57:58 +0000 http://hardballtalk.nbcsports.com/?p=102991#comment-235438 The Mets put an inferior product on the field; hence the Mets’ faithful rather spend their entertainment dollars else where

]]> By: henryd3rd http://hardballtalk.nbcsports.com/2011/12/12/the-mets-recently-received-a-40-million-loan-from-bank-of-america/comment-page-1/#comment-235437 Tue, 13 Dec 2011 11:56:03 +0000 http://hardballtalk.nbcsports.com/?p=102991#comment-235437 McCourt may have trouble buying a ticket to t ball game if the Feds have their way with him. There is that little issue of tax evasion that he and his wife are facing?

]]> By: henryd3rd http://hardballtalk.nbcsports.com/2011/12/12/the-mets-recently-received-a-40-million-loan-from-bank-of-america/comment-page-1/#comment-235436 Tue, 13 Dec 2011 11:54:09 +0000 http://hardballtalk.nbcsports.com/?p=102991#comment-235436 Think about your question for a minute and the answer will come to you. Or are you be rhetorical? The Wilpons and the Seligs are friends for years and Buddy Boy is not going to force his friends out until the other owners cry foul.

]]> By: sdelmonte http://hardballtalk.nbcsports.com/2011/12/12/the-mets-recently-received-a-40-million-loan-from-bank-of-america/comment-page-1/#comment-235435 Tue, 13 Dec 2011 10:59:53 +0000 http://hardballtalk.nbcsports.com/?p=102991#comment-235435 It is hard not to wonder how, even with a weaker team, the Mets aren’t making money just by owning a cable station.

Which makes me think it’s not the Mets or SNY. It’s the overall Sterling Enterprises portfolio.

Problem is, who has the money to buy the Mets and not be in the same boat? I suspect a lot of real estate and Wall Street types in NYC would have to gone into similar sorts of debt to buy all the Mets’ assets.

]]> By: PanchoHerreraFanClub http://hardballtalk.nbcsports.com/2011/12/12/the-mets-recently-received-a-40-million-loan-from-bank-of-america/comment-page-1/#comment-235401 Tue, 13 Dec 2011 05:06:17 +0000 http://hardballtalk.nbcsports.com/?p=102991#comment-235401 If wonder if McCourt is interested in a team on the east coast now that his fling on the west coast seems to be over.

]]> By: jimatkins http://hardballtalk.nbcsports.com/2011/12/12/the-mets-recently-received-a-40-million-loan-from-bank-of-america/comment-page-1/#comment-235377 Tue, 13 Dec 2011 03:42:16 +0000 http://hardballtalk.nbcsports.com/?p=102991#comment-235377 It kind of makes me throw up in my mouth a little, but Frank McCourt evidently has a point about the Wilpons getting preferential treatment- you so right, dondada10-

]]> By: dondada10 http://hardballtalk.nbcsports.com/2011/12/12/the-mets-recently-received-a-40-million-loan-from-bank-of-america/comment-page-1/#comment-235359 Tue, 13 Dec 2011 02:55:15 +0000 http://hardballtalk.nbcsports.com/?p=102991#comment-235359 It got me so mad to read that Pujols and Wilson would essentially be covered by the Angels’ new Fox deal. The Mets have their own cable network and a new stadium and yet they are drastically in the red.

Any why hasn’t Selig forced them to sell? He forced both Texas ownership and Dodger ownership to sell. Why not look out for the well-being of one of the bigger market teams in baseball?

]]> By: purnellmeagrejr http://hardballtalk.nbcsports.com/2011/12/12/the-mets-recently-received-a-40-million-loan-from-bank-of-america/comment-page-1/#comment-235342 Tue, 13 Dec 2011 01:36:51 +0000 http://hardballtalk.nbcsports.com/?p=102991#comment-235342 Maybe because it’s the era of the REALLY BIG swindle but I found myself wondering, “40 million? They can’t come up with a measly 40 million?”

]]> By: purnellmeagrejr http://hardballtalk.nbcsports.com/2011/12/12/the-mets-recently-received-a-40-million-loan-from-bank-of-america/comment-page-1/#comment-235341 Tue, 13 Dec 2011 01:33:36 +0000 http://hardballtalk.nbcsports.com/?p=102991#comment-235341 “vanity shares” – I like that – I was figuring who would invest 20 mil in such a proposition and your phrase captured the reason perfectly.

]]> By: spudchukar http://hardballtalk.nbcsports.com/2011/12/12/the-mets-recently-received-a-40-million-loan-from-bank-of-america/comment-page-1/#comment-235335 Tue, 13 Dec 2011 01:15:49 +0000 http://hardballtalk.nbcsports.com/?p=102991#comment-235335 So I slide on down to my local BoA, and ask for a cool mil. I am in hugely in debt, my business is floundering, but I reassure the loan officer that I got a bunch of friends who are gonna give me some cash soon, but cannot do it right away, but don’t worry they are good for it. And the loan officer says what? Sure you don’t need more than a mil?

]]> By: paperlions http://hardballtalk.nbcsports.com/2011/12/12/the-mets-recently-received-a-40-million-loan-from-bank-of-america/comment-page-1/#comment-235334 Tue, 13 Dec 2011 01:13:50 +0000 http://hardballtalk.nbcsports.com/?p=102991#comment-235334 Doesn’t it seem that if sales of $20M minority vanity shares of the Mets were going well…that they all would have been sold already?

]]> By: missthedayswhenwedidnthavetologin http://hardballtalk.nbcsports.com/2011/12/12/the-mets-recently-received-a-40-million-loan-from-bank-of-america/comment-page-1/#comment-235325 Tue, 13 Dec 2011 00:55:07 +0000 http://hardballtalk.nbcsports.com/?p=102991#comment-235325 Why couldn’t they take out a 290 million dollar loan or so for Albert Pujols. Merchandising, TV ratings, ticket sales, all would have shot through the roof relieving this massive debt. These Wilpons aren’t very smart are they?

]]> By: evanwins http://hardballtalk.nbcsports.com/2011/12/12/the-mets-recently-received-a-40-million-loan-from-bank-of-america/comment-page-1/#comment-235323 Tue, 13 Dec 2011 00:53:39 +0000 http://hardballtalk.nbcsports.com/?p=102991#comment-235323 Had no idea it was THIS bad. I’ll take David Wright for next to nothing and… thats it actually.

]]> By: Reflex http://hardballtalk.nbcsports.com/2011/12/12/the-mets-recently-received-a-40-million-loan-from-bank-of-america/comment-page-1/#comment-235317 Tue, 13 Dec 2011 00:36:14 +0000 http://hardballtalk.nbcsports.com/?p=102991#comment-235317 Where is chrisny to tell us this is all part of the plan and the Wilpon’s are just fine?

]]>