Author Topic: NYT: Mets Are Said to Be Suffering Sizable Losses  (Read 290 times)

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Offline welch

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The Mets, long one of baseball’s most highly valued franchises, have lost millions of dollars in recent years, including nearly $50 million in 2010, according to two people briefed on the team’s finances.

The team’s losses — projected to hit another $50 million or more this season based on factors including advance ticket sales — come with a range of implications for its owners, who are trying to sell a portion of the club, and for major league teams that rely on the Mets to share revenue with them.

Two years ago, the Mets contributed more than $40 million to baseball’s revenue-sharing pool — a system meant to create a more level playing field for small- and large-market teams. But in 2010, the Mets put in around 40 percent less.

The losses — the club’s falloff in revenue was the largest year-to-year decline for any major league team in recent years — are certainly jarring for a franchise operating in the nation’s most lucrative market. In 2009, the Mets, boasting one of the sport’s most expensive payrolls, opened the season in a new park, Citi Field, and the club took in revenue of more than $350 million. Still, it lost close to $10 million, according to the two people briefed on the matter.


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Full story at:

http://www.nytimes.com/2011/03/25/sports/baseball/25mets.html?_r=1&hp

...and NOTE: the Times writers, Michael Schmidt and Richard Sandomir know an "implication" when they they see one.