Mets Seek $200 Million For Portion Of The Team
Yes, that’s the headline in the morning Sports Pages in the New York papers.
And so the saga continues, while the Wilpons and Katz et.al keep saying that everything is OK, they are playing with funds that belong to everyone they know, even their wives. That’s not going to turn out well.
Apparently the $200 million will give them a cash flow, and the lender nothing. Even in the future there will be no pathway to acquire the rest of the team.
The team lost around $50 million in 2010 – which the Wilpons are blaming on ticket sales – is that possible? It’s statements like these which make the whole financial issue not ring true to me. Is this any way to run a business?
The team doesn’t need the permission of its’ partners to sell a substantial part of it’s network SNY and they may be forced to do that as well. Why have a network of your own in this case?
This saga has taken on the feeling of a day-time soap opera, that’s why I’m glad real, live baseball begins today.
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