Skip to content

Because there’s nothing better than more articles about how screwed the Mets’ finances are

Dec 26, 2011, 2:30 PM EDT

mets logo

Missed this on Christmas Eve as I was decking the halls and stuff, but Richard Sandomir has yet another article underscoring just how bad off the Wilpons and the Mets are, financially speaking:

Their $430 million loan on the team is due in 2014. Their $25 million loan from M.L.B. is past due and repayment has been extended. They recently borrowed $40 million from Bank of America. Their valuable network, SNY, is also heavily leveraged, to the tune of $450 million, a loan that must be repaid in 2015. And the Mets’ Citi Field bond payments leapt from $19 million last year to $43.7 million. That is a lot of borrowing for a team that lost $70 million last season and had faltering attendance.

Not the boldest prediction ever: the Mets will be on the market — the whole team, not just parts — before 2012 is over.  Just a feeling.

  1. adenzeno - Dec 26, 2011 at 2:42 PM

    Please sell to Cuban.

    • vanmorrissey - Dec 26, 2011 at 4:03 PM

      Cuban is doing his due diligence and evaluation on the Dodgers and since Mets are not even up for sale, that’s not an option at all, sorry.

    • Glenn - Dec 26, 2011 at 10:00 PM

      Please sell to Cuba!

    • bigleagues - Dec 27, 2011 at 11:00 AM

      There are always the billionaire wannabe owners that seemingly come out of nowhere whenever a team comes up for sale.

      That said, no one has been more prominently denied entry into the MLB ownership club than Mark Cuban. And yet, in looking at all the Met’s are gonna need to right the sinking ship, I can’t think of anyone who offers more than Cuban.

      CASH? Check.
      Resources? Check.
      Marketing genius? Check.
      Handle NY media scrutiny? Check.
      Fielding a championship caliber team ? Check
      Falling in line w/ CEO/Commissioner’s Office? Ehhhh.

      Cuban in NYC would have the Steinbrenner’s trying to raise Dad from the dead just to get some backpage coverage.

  2. cur68 - Dec 26, 2011 at 2:44 PM

    Not risking consumption of hats on this prediction, Craig? Frankly, of all your hat eating bets, I’d think this would be a pretty safe one. Oh, and in case you were wondering if I cared: remember, if Trump buys the Mets…well, better get some good mustard.

    • Old Gator - Dec 26, 2011 at 3:09 PM

      Sure, the Donald can use it as a new age hair pomade.

    • purnellmeagrejr - Dec 26, 2011 at 3:56 PM

      wouldn’t that just be great – the President of the U.s will own the Mets and the Prime Minister of Russia will own the Nets. SIck humor, eh? I don’t think Trump has any chance of either, actually.

      • Old Gator - Dec 26, 2011 at 4:04 PM

        Me neither. He can’t even speak Russian. Plus, once we all realized how stupid he is, we also realized how lucky he was to be born rich in the first place.

        Remind you of any other US president of recent memory?

  3. islesmetsgiantsceltsfan - Dec 26, 2011 at 2:51 PM

    My first Christmas gift was a Giants win over the Jets. My second would be a for sale sign on the Mets.

  4. mets79 - Dec 26, 2011 at 2:53 PM

    Wow, Craig, your prediction is the most optimistic thing I have seen written about the Mets in recent memory. A Wilpon sale of the team in 2012 is the ceiling for Mets accomplishments

  5. sexyrexys - Dec 26, 2011 at 3:00 PM

    cuban PLEEEEEEASE

    • gammagammahey - Dec 26, 2011 at 7:03 PM

      I’d also like one. Make mine with extra cheese please.

  6. dondada10 - Dec 26, 2011 at 3:13 PM

    The Wilpons selling would be the greatest gift that Met Fans could ever receive. The big question has got to be “Why hasn’t Selig already forced them to sell?” The word is that the Wilpons were somehow responsible for Selig becoming commish.

    Either way, Save the Mets!

    • purnellmeagrejr - Dec 26, 2011 at 3:57 PM

      It is discouraging to have the real world impact your favorite team.

      • Old Gator - Dec 26, 2011 at 4:05 PM

        Tell me about it.

    • jwbiii - Dec 26, 2011 at 5:10 PM

      Please stop acting like Bud Selig is a vertebrate. He does what he is told to do. The man has no spine that is not crafted for him by a majority of the owners. Selig is very well paid by and can be fired the owners. Selig likes being well paid; the owners like him there to take flak for them. This is what Selig looks like when he has to make a decision without consulting a dozen of them to ask what they want him to do:

      If a majority of the other owners don’t want to get rid of Wilpon, he will stay. If the other owners don’t want to get rid of Wilpon until the Dodgers situation is resolved, Selig will take a stand after McCourt is gone.

      • anxovies - Dec 27, 2011 at 11:31 AM

        Accurate portrayal of Selig. R. Lee Ermey for Baseball Cimmissioner!

  7. PanchoHerreraFanClub - Dec 26, 2011 at 4:12 PM

    Craig, you could buy the Mets for $1 and the assumption of the debts. Then, of course, you would declare bankruptcy and make a bundle by doing the legal work yourself.

  8. missthemexpos - Dec 26, 2011 at 4:30 PM

    Lets simply refer to all these stories on the Met finances as milf situations, (Mets In Loosing Financial) situation.

  9. andyreidisfat - Dec 26, 2011 at 7:04 PM

    They can save money trading wright to the phills for Dom brown.

  10. mojosmagic - Dec 26, 2011 at 8:56 PM

    The Wilppn’s are in financial ruins and it’s killing the Mets ability to compete. My advice, sell the f**ckin team. Stop deluding your self and the fans.

  11. jerseyshoregiant - Dec 26, 2011 at 9:17 PM

    It’s really telling now about why the Wilpons backed out of the Einhorn deal and tried to smear his name.. They knew he would own the team in a couple of years!!!

  12. hushbrother - Dec 26, 2011 at 9:47 PM

    The ghost of Bernie Madoff is haunting the Wilpons

    • Old Gator - Dec 26, 2011 at 11:36 PM

      No, it’s Bernie in the flesh. He’s not dead yet. But let’s face it, with or without Madoff, the deals they’ve made and the massive borrowing they’ve done, not to mention the decline in attendance due to their rotten performance afield, would have brought them to this point eventually anyhow.

  13. sdelmonte - Dec 26, 2011 at 10:15 PM

    This is as much a story about everything that’s wrong how business is done in America as about baseball. The notion that banks would make so many loans for so many things is disturbing. There’s no doubt the Wilpons are lousy businessmen of late (probably unable to adapt to losses in their core real estate business and going downhill from there). But they are far from the only ones here who seem clueless or willfully ignorant of the realities of high finance.

    • Old Gator - Dec 27, 2011 at 11:03 AM

      Are the Greeks and Italians here too?

  14. jsally430 - Dec 26, 2011 at 10:24 PM

    Im sure players want the mets to get it together because theyre not going to get over paying bad contracts with out them. At least they got.johon santana for.little to nothing oh wait…..

  15. mrznyc - Dec 26, 2011 at 11:21 PM

    Blaming the Mets performance on the Wilpon’s financial situation is farcical – If the Wilpons were rolling in money they’d still screw up the baseball team – The son is a complete moron and dad is not all that far behind – They gained control of the Mets with the help of Madoff, not because on any business smarts, and have run the franchise into the ground since then. The stadium is a joke and one of the more annoying places to try and watch a game – They can’t be gone soon enough – The next owners might not bring us an instant World Championship, but at least they have to be better than Fred and the idiot son.

    • Old Gator - Dec 27, 2011 at 11:05 AM

      You’re right. Fact is, the Wilpons ruined the team because of how they and Omar the Mystic spent tons of money on the wrong ballplayers, not because they nickel-and-dimed it to death.

Leave Comment

You must be logged in to leave a comment. Not a member? Register now!

Featured video

Giants, Royals took unique paths to WS
Top 10 MLB Player Searches
  1. T. Ishikawa (2485)
  2. M. Bumgarner (2416)
  3. J. Shields (2006)
  4. Y. Molina (1914)
  5. L. Cain (1798)