Wilpons Received Bailout Money From MLB

By / February 25, 2011 / 2011 Season, Media

It was only a matter of time before the finances of the New York Mets and the Wilpons made headlines again. The latest
is what the New York Daily News is reporting. According to some reports, in November of last year, the Wilpons received a loan from Major League Baseball.

The Daily News reports the loan to be at $25 million. Other reports say $20 million. Either way, they received some bailout money. This statement was issued when the loan came to light:

We said in October that we expected to have a short-term liquidity issue. To address this, we did receive a loan from Major League Baseball in November. Beyond that, we will not discuss the matter any further.

Now it really does not matter the dollar amount. It matters that the loan was handed to them, which is to be repaid in a certain amount of time. How many months was not stated.

Look, we all know the situation. It was only a matter of time before the Mets received money from MLB because they want the National League to be successful in New York City. After all, New York City has always been a National League city. Three baseball teams have originated here. So it is in the best interest of MLB to make sure the Mets can compete.

Could this mean that we are nearing the end of the Wilpon era for the New York Mets? Possibly. However, the Wilpons will do whatever it takes to keep full control of this team. At some point, depending on what happens with this lawsuit, they just might have.

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Tanya

2 Comments

DyHrdMET

I said back when the Mets announced they were looking to sell off part of the club that within a year, the Wilpons wouldn’t be in full control (if any control). but i think the Mets situation hasn’t yet hit rock bottom (at least in terms of what “new” information will appear in the NY Times and other newspapers), and the stubbornness of the Wilpons and Bud Selig’s lack of balls in not trying to force the Wilpons to sell (instead, he’s going to try to help them, which will only make the situation worse) will become real black eyes on the franchise. it could take years to recover from it (hell, the Mets haven’t exactly been a model franchise in the 25 years that Fred Wilpon has had at least 50% control).

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Tanya Mercado

The only thing that will remove black eyes are championships. Nobody will give a crap about the Wilpons and their money situation if the Mets win. Winning is the only thing I care about. If the Mets do that for me, I’m a happy Mets fan. But you are right. The Wilpons, at some point, will probably no longer have full control of this team.

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