In case you haven’t heard, the Mets are in deep doo-doo financially. Fred Wilpon and Saul Katz, the owners of the Mets, guarded Bernie Madolf’s investment pipeline which turned out to be a Ponzi scheme. To translate, Madolf and the Mets ripped off a lot of people.
Now a trustee for Madolf’s victims is suing the Mets for up to a billion dollars, so the Mets are now trying everything and anything to make up all of the debt they will have. The Mets have even borrowed $25 million dollars from Major League Baseball to help cover their debts.
But today, things seem to be much worse for the Mets. Channel One New York reported this morning that the Mets are trying to make a pitch to a group of banks for even more money.
“According to the New York Post, the Mets are looking to secure a loan worth tens of millions of dollars to cover basic operating costs”
Basic operating costs? Like what? Electricity? Are the Mets too poor to turn on the lights and play night games? Maybe they can save electricity by turning off that ugly apple that pops up after the Mets hit a home run.
I am not even too sure they can even afford to feed their team at this point. Good thing today was free Pancake Day at IHOP.
“JP Morgan Chase, which lent the team $430 million last year, is trying to recruit a team of banks to put together a loan that would keep the Mets afloat until they’re able to sell a minority stake in the team.”
Wait, he lent the team $430 million LAST YEAR? And this guy still wants to give them more money? Talk about a hardcore Mets fan. If any of you find loose change on the ground, don’t put it in your piggy bank. I think the Mets may need it more.
“Any new loans would go toward operating expenses, including paying players.”
If they cannot afford their players, it looks like it won’t be much longer until the Mets will have to lay off workers. I think it is going to be hard for Mr. Met to find a new job.
Oh and to make everything even more hilarious, Johan Santana is going to be out of the line up till mid season. Making their starting rotation:
1. Mike Pelfrey
2. R.A. Dickey
3. Jon Niese
4. Chris Capuano
5. Chris Young
Somebody pinch me.
The Channel One NY article can be seen in its entirety here.