NY Mets on Course to Match USD50m Losses from ’10
March 25, 2011
The New York Mets of Major League Baseball (MLB) are set to repeat losses of almost US$50m from 2010 this season, generic according to the New York Times.
In the midst of a $1bn lawsuit tied to the Bernard L. Madooff Ponzi scheme, the owners of the Mets are trying to sell a portion of the team.
According to the Times report, the Mets contributed about $24m to baseball’s revenue-sharing pool in 2010, compared with $40m two years ago.
Revenue fell by more than $60m last year, and the paper revealed that the net loss, after interest, was about $50m during 2010, the same year the Mets secured a $25m loan from the league.
The Mets declined to discuss finances, the New York Times said.