Baseball for the Thinking Fan

Login | Register | Feedback

btf_logo

News

All News | Prime News

Old-School Newsstand


Contributors

Jim Furtado
Founder & Publisher
Repoz
Editor - Baseball Primer

Syndicate

Wilpons Newsbeat

Friday, February 13, 2015

Megdal: Capital Sports-Biz Report: The state of the Wilpons; Red Bulls as anti-Galacticos

Does the new column mean Howard’s no longer in the running for the NBC Nightly News gig?

Welcome to Capital’s new Sports Business Report, a weekly digest of news on the top players and institutions in one of New York’s highest-profile industries. ...

Here are the numbers you have to actually remember, and what keeps Fred Wilpon and his partners up nights (and Wilmer Flores entrenched as a low-cost shortstop). The Mets’ parent company, Sterling Equities, continues to finance the $250 million in debt against the team. Sterling also continues to finance more than $600 million in debt against SNY. Below is a partial schedule of what comes out of team revenues directly in twice-annual debt balloon payments for the next eight years.

June 2016 - December 2018: $21,950,000

June 2019 - December 2022: $22,000,000

The schedule continues like that through 2045.

It all means that the Mets are spending more on financing debt than they are on payroll.

So sure, it’s nice every time the Madoff trustee announces another victory, primarily because it helps people actually victimized by Bernie Madoff. But Mets ownership has far bigger numbers to worry about.

Which is also why you can safely dismiss the qualified comments by new MLB commissioner Rob Manfred on Wilpon finances. Notice that he insulates himself by claiming no knowledge of their ability to spend just before endorsing it.

Also via Adam Rubin: http://es.pn/1vHGiwn

“Asked point blank if the Mets have the capacity to boost their payroll now, given their seeming lack of appetite to pursue trades for big-ticket items such as Troy Tulowitzki and Ian Desmond to man shortstop, Manfred added: “I don’t know what their internal considerations are with respect to individual trades, and it’s not appropriate for me to talk about that. But I have never had a question about the Mets’ capacity to spend if they decided it was in their baseball interest to spend money. I really don’t believe that’s an issue.”

Tell that to the fans about to watch a potential contending team fail to address basic roster holes or depth this winter.

JE (Jason) Posted: February 13, 2015 at 11:32 AM | 22 comment(s)
  Beats: citi field, madoff, mets, troy tulowitzki, wilpons

 

 

BBTF Partner

Support BBTF

donate

Thanks to
Jim Wisinski
for his generous support.

Bookmarks

You must be logged in to view your Bookmarks.

Hot Topics

NewsblogOTP - March 2015: You’re out, tobacco: Bill would ban products at all California baseball venues
(3480 - 11:32pm, Mar 26)
Last: Los Angeles El Hombre de Anaheim

NewsblogFormer Cardinals player punched at St. Louis County gas station after racial slur
(14 - 11:30pm, Mar 26)
Last: Howie Menckel

NewsblogBoras: Cubs using business, not baseball, if Bryant stays in minors - CBSSports.com
(10 - 11:24pm, Mar 26)
Last: The Yankee Clapper

NewsblogFive toughest roster dilemmas this spring | MLB.com
(17 - 11:22pm, Mar 26)
Last: Spahn Insane

NewsblogReport: Mets cut ballpark security to save money
(8 - 11:17pm, Mar 26)
Last: Coot Veal and Cot Deal taste like Old Bay

NewsblogNippon Ham ordered to pay ¥41.9 million for failing to shield spectator from foul ball
(4 - 11:17pm, Mar 26)
Last: Spahn Insane

NewsblogMLB Worth $36 Billion As Team Values Hit Record $1.2 Billion Average
(44 - 11:10pm, Mar 26)
Last: ptodd

NewsblogCubs' Ricketts reveals Wrigley renovation might take extra year
(3 - 11:09pm, Mar 26)
Last: Spahn Insane

NewsblogBill James Mailbag - 3/24/15 - 3/26/15
(40 - 11:04pm, Mar 26)
Last: AROM

NewsblogNot so fast, Matthew Lucroy!
(16 - 10:53pm, Mar 26)
Last: Spahn Insane

NewsblogOT: Monthly NBA Thread - March 2015
(1315 - 10:48pm, Mar 26)
Last: MikeOberly

NewsblogA Fresh Start | The Players' Tribune
(1 - 10:41pm, Mar 26)
Last: JRVJ

NewsblogCallis: Ranking the best farm systems of the past five years
(17 - 10:24pm, Mar 26)
Last: JJ1986

NewsblogNew York Yankees shortstop Didi Gregorius, who is replacing Derek Jeter, is already garnering jaw-dropping praise from veteran teammates like Mark Teixeira and Alex Rodriguez, particularly for his fielding and baseball smarts | FOX Sports
(37 - 10:11pm, Mar 26)
Last: shoewizard

NewsblogTony Massarotti Details Phone ‘Conversation’ With Shane Victorino « CBS Boston
(10 - 9:48pm, Mar 26)
Last: Rex Varno

Page rendered in 0.8808 seconds
47 querie(s) executed