Monday, February 25, 2013
Mets financial situation expected to get worse in 2013
Well according to an investigative report from the New York Post business section, the Mets are about to lose more money this year, making it even harder for the embattled owners to run the franchise.
The Mets are expected to lose close to $10 million this year, inspite of the fact they host the All Star game this summer. The Mets, whose attendance has dropped like a stone the past few years, racking in on average 28,000 fans a game, will see a drop in attendance as well. Fans just aren't buying into a ball club that can't improve itself enough to compete on the field.
" The team is expecting to lose more than $10 million this year, after bleeding red the past two seasons, while attendance is projected to fall for a fifth straight year, The Post has learned.
The owners can expect to take about $65 million from separately owned SportsNet New York cable network, which airs Mets games. However, Citi Field saps $43 million in debt payments, leaving a net gain of $22 million from those two assets. That means there won’t be much left to sink into the ballclub.
“There is little room this year to raise salaries,” said a source familiar with the team’s finances" (New York Post).
The Mets have been busy jacking up ticket prices this year, in hopes of luring fans toward buying ticket packages which includes the All Star game as an extra incentive. However, with the effect of the secondary market (stubhub for example) the Mets could ultimately lose at the end of the day.
In short, it is going to be very interesting to see if Wilpon holds true to his word that the Mets are going to spend money next year, or if he will try to come up with another smokescreen for another calender year.
And of course, the Wilpon's will not sell the team, even though it would defiantly be in the best interest of the fan-base and franchise.