Oy vey. Here we go again!
The New York Times is reporting that in November Major League Baseball lent the Mets/Wilpons a sum of $25 million (the Daily News is reporting $20M, I don’t see much of a difference though). Word is that the Wilpons and the Mets had low liquidity (liquidity means how much cash the team have access to in the short-term) and needed the loan in order to function properly. Supposedly it will be paid off within a few months by the Wilpons.
This further highlights the financial distress of the team and specifically the Wilpons as they’re about to embark on a major lawsuit. The last time the MLB lent out this kind of cash to a team was the Rangers, only a year ago. They were in the midst of bankruptcy and the team now has new ownership. However, I won’t go into more detail, as you can all read the article yourselves.