Mets ask for $430 million loan from Chase

The cash strapped New York Mets are looking for some more loans.

The Mets have extended an SOS to JP Morgan Chase bank for a $430 million loan to cover operating costs, just days after it was revealed that the Mets took a $25 million loan from MLB for similar costs back in November.

The Wilpons are 1.66 billion in dept from costs on the Mets franchise, SNY, and Citi Field construction costs. Yet, the embattled ownership group appears ready to add to that debt with a new loan.

"[JPMorgan] believe the Mets still have the capacity to borrow," a source said.

But another source said, "Are you kidding me?" when told about the loan.

"You don't lend into a distressed situation," that source said.

"This is a very risky loan," with the team losing about $50 million a year," said a report from the New York Post.

Perhaps J.P. Morgan thinks the Mets are good for it, especially if they can sell off a minority stake in their Mets business. It's a huge risk, since the Mets have proven that they can't pay off their enormous debts in the past.

The situation has gotten so dire that it is painfully obvious that the Wilpons have to sell this team.