Capital New York – After years of crushing debt brought on by the evaporation of their holdings with Bernie Madoff, Wilpon took in the Florida sunshine, smiled, and announced to reporters that the team’s financial difficulties were over. “It’s all in the rear-view mirror,”Wilpon said, after arriving at the team’s spring-training complex in Port St. Lucie. “The family is in great shape,” he said. “The family really is in great shape. Sometimes luck is the residue of design.” This would be great news for Mets fans, who have watched their team decline as the Wilpons’ problems ravaged the Mets’ payroll. If it were true. Which publicly available evidence suggests it isn’t. “It wasn’t, as people have written, the reason,” Wilpon said about bank debt. “It was a balance there, because we had to make sure the banks got paid off all of the debt. There’s no one in my family”—there’s the Katz family, the Wilpon family, kids—”[that now] has any personal bank debt. Zero. Everything has been paid. We don’t owe a dollar to anybody. We have mortgages on buildings and stuff like that, but we don’t owe a dollar.” U.C.C. filings confirm that the $320 million debt due against the team in June 2014 is an active debt. And Wilpon and his partners already owed $450 million against their 65 percent ownership stake in S.N.Y., due in 2015. Their latest loan, an additional $160 million secured in December, added to that total. For Sterling to be debt-free, Wilpon and his partners, less than two months after borrowing $160 million to help pay, among other things, day-to-day expenses, will have needed to come into possession of more than $900 million to take care of these two debts alone.
Glad to know Fred and Jeff are rolling in the dough again! First thing’s first, thats just a blatant lie. Secondly nobody gives a fuck about whether you and the family can afford nice threads and steak dinner on a day to day basis when your franchise is a billion fucking dollars in debt. The Mets are gonna trot out the worst outfield in the history of baseball this year. Not just Major League Baseball. Out of all the baseball being played on the planet earth this year, Baxter/Duda/Nieuwenhuis/Valdespin or whoever the fuck they decide to run out there is the worst outfield there is. The team has 69 wins written all over it. And I’m not even saying that there was a free agent or a big signing this off season that would rectify that. But my point is that this current product is gonna be really fucking shitty for the fans, so nobody wants to hear about how ownership has their own personal spending money again.
Nobody believes anything the Wilpons ever say when it comes to money, and every time they open their mouths it infuriates the fans anyway. Just shut the fuck up you goddam idiots.
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