Author Topic: NYT: Mets Are Said to Be Suffering Sizable Losses  (Read 306 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.


<snip>

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.

Online HalfSmokes

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Contract them and let the fins move to NY. How many loans can Selig dole out before other owners of small market teams start to talk about firing him? The mets are in the largest market in the game with a new stadium, if they are poising money perhaps baseball ownership just isn't something Wilpon is good at

Online DPMOmaha

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I smell a bankruptcy claim coming soon...

Online blue911

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Omar Minaya and protege

Offline mitlen

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Hey Bud, nothing like having the Mets and Dodgers in court.

Online Lintyfresh85

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I think the moral of the story is... don't own a team with your wife... and don't believe Wall Street sharks that tell you they can get a 15-18% ROI.

Offline EdStroud

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Contract them and let the fins move to NY. How many loans can Selig dole out before other owners of small market teams start to talk about firing him? The mets are in the largest market in the game with a new stadium, if they are poising money perhaps baseball ownership just isn't something Wilpon is good at
It's not a loan it is stimulus

Online JCA-CrystalCity

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It's not a loan it is stimulus
No. Some of your prior avatars were a stimulus. This is just good money after bad.
(Image removed from quote.)


Omar Minaya and protege
perfect

Online HalfSmokes

  • Posts: 14618
The mets should have to do what the Royals, Fish, and other low revenue teams do when they have cash flow issues, trade high priced players- I'm sure someone would take Wright for a few prospects, same with Reyes. They might be able to package Pelfrey to get some team to take on Beltran's deal. If the mets fans don't like it, they may find put what most fan bars go through when their talent gets poached

Offline JMUalumni

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Offline KnorrForYourMoney

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Hey Bud, nothing like having the Mets and Dodgers in court.

lol

I love it.  He deserves egg on his face for something.  He hasn't gotten nearly as much criticism as he deserves, thanks in part to the fact that he has the media behaving like a dictatorship (see: Scott Van Pelt incident at BSPN).

Offline tomterp

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  • Hell yes!
Mets financial situation is worse than previously thought:

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


Quote
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.


 :lmao: