Messy Mets Reportedly Received $20 Million Dollars Courtesy of the MLB!!!
It appears the Wilpons financial situation is worse than we thought. Already seeking a “minority stakeholder” and citing being victims to Madoff‘s Ponzi scheme, we’re now learning the Mets had to borrow $20 million dollars from the MLB!
The Mets are already fighting a major $1 billion dollar lawsuit from Irving H. Picard, the trustee of the victims in the suit, and on top of that, the Mets are currently $400 million dollars in debt! The New York Times is reporting that the Mets have already exhausted their $75 million dollar line of credit which is provided by the MLB.
This forced commissioner Bud Selig to step in and provide further aid on a day-to-day basis for the club. What’s more disturbing is the Mets are currently seeking a “minority stakeholder” for the club that will not include ownership? ARE YOU SERIOUS?
This Mets ship is sinking faster than the Titanic!
It’s going to come to the point where they will be unable to attract players because they don’t have the proper finances to pay them. I don’t understand why the Wilpons don’t count their losses and sell the team. If they lose this lawsuit, they will be in a HEAP of trouble. I say do away with a minority stake.
If they aren’t going to sell the team outright, allow public ownership “like in Green Bay, Wisconsin” and allow the fans to own a piece of the franchise. Maybe they’ll see something worthwhile like reduced ticket prices and parking? Any situation has to be better than the one they’re in now!
SELL!!! SELL!!! SELL!!!