Monday, December 26, 2011

For Mets, Vast Debt and Not a Lot of Time -

NEW YORK, NY - AUGUST 06:  Daniel Murphy #28 o...Image by Getty Images via @daylifeFor Mets, Vast Debt and Not a Lot of Time -

Oh Mets are not looking good (Remember: debt makes good times great, and bad times horrible.)

"... the Mets worry Major League Baseball enough to be seen as a troubled franchise on a short tether. Their $430 million loan on the team is due in 2014. Their $25 million loan from M.L.B. is past due and repayment has been extended. They recently borrowed $40 million from Bank of America.

Their valuable network, SNY, is also heavily leveraged, to the tune of $450 million, a loan that must be repaid in 2015. And the Mets’ Citi Field bond payments leapt from $19 million last year to $43.7 million.

That is a lot of borrowing for a team that lost $70 million last season and had faltering attendance."
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