Their team is going broke: The Times reports that the franchise lost $50 million last year, and is expected to lose the same amount this year—money that the team
crooks owners don’t have.
The revelations about the team’s losses come as Wilpon and Katz look to raise cash to keep the team running by selling at least 25 percent of the club. Five to eight prospective bidders are taking their first looks at the club’s recent financial history — and examining documents that help with projections.
Why is this good news for Mets fans?
I’m tempted to say because it might finally get them to wise up and become Yankees fans, but I’ll restrain myself.
No, it’s good news because the Wilpons, who are so deeply implicated in the Madoff scandal, should sell the team, and this financial pressure makes that possibility more likely. It’d be good for baseball and good for the Mets.