More proof that the Mets are in more trouble than they admitted & that MLB should get involved? Story inside->?

NEW YORK (AP)—The New York Mets’ owners recently got a $40 million loan to help with cash flow, a year after getting a $25 million loan from Major League Baseball.



The recent loan came in the last six weeks from a major bank and was first reported by The New York Times on Monday.



The Mets have been plagued by the Bernard Madoff Ponzi scheme and general manager Sandy Alderson has said the team lost $70 million.



The Mets called the recent transaction a “bridge loan” to help them while they seek to sell minority shares of the club.



A statement by the Mets says the latest loan was approved by “Major League Baseball and the syndicate of lenders to the Mets” and that the effort to sell minority shares “continues to go very well.”



Last week, star shortstop Jose Reyes left the Mets as a free agent and joined the Miami Marlins.More proof that the Mets are in more trouble than they admitted %26amp; that MLB should get involved? Story inside-%26gt;?
1) Loosing Reyes, I'm OK with



2) The commissioner should have stepped into this mess last year, when the first loan went out. Theres another sign of a money problem, all season ticket holders had to have a non-refundable deposit to reserve 2012 seats in by November 7, not only did they have their $$$ to pay their bills, but they screwed them and didn't even negotiate with Jose Reyes.



As long as they own the Mets, there is no hope, and their better years are behind them, I don't see them competing for another 6-7 years at best, and I was a season ticket holder for 30 years.
I laughed when they said the effort to sell minority shares "continues to go very well", what amount of shares have they sold so far? 0% and they made Einhorn back out from the 20%. It been almost a year and they haven't even sold any shares and there is no information about them selling it either and they claim it's going well? The Mets are in deep trouble but Wilpon is too stubborn to realize that.More proof that the Mets are in more trouble than they admitted %26amp; that MLB should get involved? Story inside-%26gt;?
The commissioner should have stepped in and took over the team and appointed someone to go look at the teams financial records
And some people at work wonder why other people at work call them the New York Mess. I don't call them that, they're my 2nd favorite team if I had to pick one, but still.More proof that the Mets are in more trouble than they admitted %26amp; that MLB should get involved? Story inside-%26gt;?
Get rid of pathetic Fred Wilpon... MLB should step in like they did with the Dodgers.
Major banks don't make bridge loans without a clear time window and exit strategy. The Mets will raise the capital to pay off the loan by selling shares or the bank will be the new owner of the Mets and they'll sell the shares. The Mets have wanted to sell off minority interests, but no one in his right mind wants a minority interest in a private company with no way to sell off that interest in the market place. The Green Bay Packers are selling shares but that is only because Packer fans are willing to spend $250 to say they're an owner. Citibank or Chase are not so sentimental and they're investing more than $250.
Wow! I knew there was a mess on Long Island but this certainly opened my eyes. Frankly I've never seen so many things wrong with, not only the business side of the game, but the on field problems as well. While Bud Selig was busy with his PED witch hunt, baseball has been falling apart at the seams.



I always thought there was a monitoring system, which including a self auditing system as well, that was constantly in place. All this was supposed to be designed to keep these types of things from happening.



The Mets fire sale has only just begun. David Wright is next. This whole thing with Reyes really didn't make much sense either since the Marlins are far from making any substantial improvement in their financial situation. Much like the Mets, a new ball park doesn't guarantee anything.