About That Whole “Wilpon Is Broke” Rumor
Thoughts from Joe D.
Well isn’t this an interesting way to interrupt my Sunday AMC “Gory Matters Here” marathon?
I’m not seeing or buying what is being reported. I hate having to rehash all this stuff again, but the Mets are getting fiscally better everyday.
- I already told you last month, about the new National MLB Broadcast deal that’s infuses another $40-50 million a year into the team.
- The host city for the All Star Game gets a huge chunk of all the sponsorship money that is pouring in by the hundreds of millions.
- Last year they lost $70 million and this year they lost only $20 million. You may not think that’s much, but to lenders and investment bankers, this is huge.
- The SNY loans are being refinanced (just like I said they would be in 2011) as we speak for significantly lower interest rates as well as lower monthly payments, and the Wilpons will bankroll tens of millions in cash out money and dividend payments.
- Just last week the Mets brought back the Gulf Coast Affiliate they were forced to shut down a year ago.
- The Mets are in fact negotiating a deal with David Wright worth more than the Beltran contract and maybe even the Santana contract.
- After they announced the Jason Bay separation and the deferred payment, the Wilpons and Alderson did confirm it would give the team more payroll flexibility for 2013. That means they are spending the money that would have been owed to Bay, not banking it or paying down debt like I initially thought. If they were broke they’d keep every penny.
These are all signs that point to fiscal viability and not the doomsday scenario everyone keeps wishing for…
Anyhow, that’s what I’ve got for you.
Walking Dead Note: What the heck was that Zombie Fight Club scene all about?
Original Post 10:40 PM
A source told Michael Salfino, Sports analyst for the Wall Street Journal and Yahoo!, that the Wilpons are broke and will lose the team within the next two years.
Right after those tweets, Brian Costa of the Wall Street Journal said that Salfino is not a WSJ employee and that it “did not go through us, nor is it in our paper.”
Strange… Nobody is corroborating this.
About the Author: Rob Johnson
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