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The Yankees WILL go bankrupt.

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Posted

Well looks like I got the wrong NY team.

The team’s owners, Fred Wilpon and Saul Katz, having been sued for $1 billion by the trustee representing victims of Bernard L. Madoff’s fraud, could well be limited in their ability to move money to the Mets from their other operations, including real estate and cable television — something they have done over years to sustain the club, according to a person briefed on the team’s finances.

Without that lifeline, the club could face daunting and immediate hurdles. The Mets have one of the largest payrolls in baseball, and several of their highest-paid players are unproductive and nearly impossible to trade; the tens of millions of dollars in loan and bond payments the Mets have on their books will not go away; and Commissioner Bud Selig, having already lent the Mets $25 million, may be unable to continue quietly backing the team.

Moreover, the one potential bright spot — the start of games at Citi Field, the selling of tickets, the sale of hot dogs and beer — appears clouded as well. One person close to the team said that advance ticket sales for the 2011 season were going so poorly that a sense of panic had begun to take hold in the team’s front office.

http://www.nytimes.com/2011/02/27/sports/baseball/27wilpon.html?_r=1&ref=sports

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Posted

Love them!!

The greatest sporting org. in the history of American sports.

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Posted

The New York Mess

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