Friday, January 25, 2013

New York Mets: On Second Thought, How Will Club Afford 2014 Season Again?

From the desk of:   HEAD BUTTING MR. MET

2002 - 2012
A Decade Of WILPONianism:

* In 2002, Fred Wilpon Pays Nelson Doubleday $135 Million
For His 50% Stake In The Mets.
* By End Of 2012, Fred Wilpon Negotiates $700 Million Debt Refinancing
And Loan Package.


Demolishion Of Shea Stadium
Construction of Citi Field
One Financial Scandal

Four General Managers
Five Field Managers
Overall Record:
794 - 825  .490
One N.L. East Title
Two 2nd Place Finishes
One 3rd Place Finish
Four 4th Place Finishes
One 5th Place Finish
Four Seasons Above .500
Six Seasons Below .500
Average New York Mets Season
Over Last Ten Years:
79 - 83   .487
Welcome To Mets Year 11 A.D. - After Doubleday
and counting....

Meet the Mess, Meet the Mess.  Step right up and fix your eyes on a big fat monetary mess.  Bring your kiddies, and bring your wives, for this mess has been ten years in the making.  Congratulations must go to the Wilpons, for this has been a complete and utter mess of the highest order.  As messes go, this was a grand slam - an upper deck job - a walk off.....

For those of you not familiar with the Saul B.Katz Dilemma, in proper form, I use it as a metaphor to describe the utter state of chaos which has existed ever since Fred Wilpon bought out his former partner, Nelson Doubleday.  The Saul B.Katz Dilemma as a verb is to watch the prophecy unfold - the one where Nelson Doubleday predicted the Wilpons would drive the Mets into the ground.  Saul Katz is to Igor as Mr.Wilpon is to Dr. Frankenstein.  Poor loyal Saul Katz is helpless to stop him.  Hence, his dilemma.

Today's Episode: Accounting For Dummies

Hey Mets fans, can you spare $700 million dollars?  Ownership might as well just come out and ask us for the money.  They will passing the costs on to us anyway.  So why not be open about it?  Truth be told, even before we start discussing the on-field product, Mets fans are primarily disgusted with the prohibitive costs related to attending Citi Field, flex pricing for premium games, and a minimum ticket price of $63 dollars for Opening Day.  But hey, what's a few million dollars between friends?  Just as with him, so it is with us.  It's all about the money.  And the average guy/gal just doesn't make enough of it.  Now, if the Wilpons want even more of my cash, they will have to appeal to President Obama for it.  The more government takes from me, the less there is to spend at Citi Field.

We fans are being asked to believe that achieving closure in the Madoff Mess, successfully refinancing all outstanding debt, and securing roughly another $160 million dollars in operating capital, is good news and cause for optimism.  I see it as being $700 million dollars in debt.  Period.  After we figure in the 2013 payroll, the Wilpons are left with roughly $65 to $75 million dollars for other expenses and rolling over into the 2014 season..  Here's the rub.  Ownership considered the 2012 season a disappointment after "only" 2.2 million fans crashed the Citi Field gates.  The attendance forecast for 2013 calls for much of the same, which according to Wilpon's economic Law of Appreciative Depreciation Of Gross Projections, represents another loss.  That means ownership will not be improving upon the money left over from 2013 season pay-outs.  So who are we kidding here?  At some point in the 2014 calendar year, the Wilpons will be right back where they started - with no operating budget worth speaking of and challenged to pay off what they owe.

Perhaps that is why the Mets have but two players signed beyond the 2014 season.  I'm guessing the Wilpon's situation is precarious as ever.  There will be no relief coming this season.  Getting through the 2014 season therefore, still seems like a monumental task.  Paying for it, seems even more questionable.


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