Message #745256

[tomterp]

Mets financial situation is worse than previously thought:

http://features.blogs.fortune.cnn.com/2011/04/27/inside-the-new-york-mets-financial-ledger/

According to the source, Mets financial statements disclose another $100 million in what the team calls "contingent liabilities." Much of that is deferred compensation still due to players long gone from the Mets roster. The documents give two examples of these liabilities: Bobby Bonilla, who left the team in 1996 and has $1.2 million per year coming to him for the next 25 years, and Bret Saberhagen, who left in 1995 and is owed $250,000 annually through 2029.