metirish

Can some financial wiz here clue me in as the machinations of owing Bret Saberhagen $250,000 annually through 2029? Report: Mets' financial liabilities are around $625 million Just how deep in the hole is the troubled franchise of the New York Mets? As owners now shop a 49% stake in the team, it's been widely reported that the franchise has around $430 million in bank debt. But a potential investor who spoke to Fortune on condition of anonymity points out that the team's liabilities are closer to $625 million, from a buyer's perspective. The $430 million figure reflects the loans refinanced last year by the team's main lender, JPMorgan Chase. But Sterling Equities, the group led by Fred Wilpon and Saul Katz that holds ownership stake in the Mets, has opened its books to interested investors, and those books disclose other financial commitments that give a more complete picture of the Mets' true obligations beyond bank debt. According to the source, Mets financial statements disclose another $100 million in what the team calls "contingent liabilities." Much of that is deferred compensation still due to players long gone from the Mets roster. The documents give two examples of these liabilities: Bobby Bonilla, who left the team in 1996 and has $1.2 million per year coming to him for the next 25 years, and Bret Saberhagen, who left in 1995 and is owed $250,000 annually through 2029. Investors were not shown a full list of the contingent liabilities; they were only informed that the figure is $100 million, and that these two particular commitments are examples. The source adds another $70 million to the team's overall liabilities to cover this year's losses. The Mets lost $50 million in 2010 and are projected to lose $60 million this season. But they've already seen an 11% decline in attendance this year, which makes it likely that the team will lose closer to $70 million. Part of the franchise's annual obligations is an annual $50 million municipal bond payment for financing Citi Field -- these payments come from Queens Ballpark Company, a "wholly owned subsidiary of the New York Mets," according to the Sterling Equities website. Combine the $430 million bank debt with the contingent liabilities and expected losses this season, and finally, add the $25 million owed back to the MLB from a loan made to the team in November, and a new owner would own part of a team that's roughly $625 million in the hole. A spokesman for the Mets would not comment on the negotiations or the investor's information. Meanwhile, the owners will have to deal with a pesky lawsuit from Irving Picard, the bankruptcy trustee tasked with recovering money for victims of Bernard Madoff's Ponzi scheme. The $1 billion lawsuit accuses Wilpon and his partners of being aware of the scam while feeding more money into it. The official statement on the matter from Wilpon, Katz and the other Sterling Equities partners, as of March 20, reads: "Let us be very clear: we did not know that Madoff was engaged in a fraud. There were no red flags and we received no warnings." The team may end up reaching a settlement, which is yet another potential cost a buyer might take into consideration. What the Mets want now, of course, is to find a Mets fan or a group of fans with pockets deep enough to buy a 49% share of the team for around $200 million. Such a deal wouldn't solve everything, but it would give the Mets a good start on the right path. Wilpon and Katz could pay back the $25 million loan to MLB (given by Bud Selig in November, though they didn't reveal it until February). They'd have funds to help cover this season's losses. They could set aside a reserve, if they need it, for the Picard lawsuit. And of course, they could continue doling out their $145 million payroll. At the very least, Fred Wilpon, Saul Katz, and Mets fans can feel happy when they compare the dire situation in Queens to a similar, but worse, crunch in Los Angeles. The Dodgers are in about the same level of bank debt, but have additional liabilities at estimated levels much higher than the Mets. And Selig has refused to bail out Dodgers owner Frank McCourt, whose team has been taken over by the MLB, the way that he bailed out the Mets with a $25 million loan back in November. For now, Mets fans will keep watching the field, and hope that the people watching the books keep an eye on the ball. Read more: http://sportsillustrated.cnn.com/2011/baseball/mlb/04/27/mets.finances/index.html#ixzz1KpBI3poj

Great pix here of Reyes and of Dickey

WTF would he be so stupid and mean and so fucking stupid again? Quinn of course goes crying to Gloria Allred$$$$$$$ fucking f---------------at fuck

Centerfield wrote: Is the implication here that Brad Emaus is not BRAD EMAUS? He gave us plenty of memories. He even has his own thread. I'd like to see his birth certificate

LeiterWagnerFasterStrongr wrote: The first iteration of the catch video there-- the "Must C" stuff-- is a medley of all the calls. Sterling's is in there with the "WCBS" chiron in the upper right over My9 video. Also, reminded me of this. cheers , Sterling is the last call in the montage and it's the game ending call.....he played that one straight and it was a good call.....better than Kay's call on the Rodriguez blast.

LeiterWagnerFasterStrongr wrote: Video here. great catches but I was hoping they would feature Sterling's call.....

Is there not a charity involved?

Can someone give a quick synopsis of the story as I can't access it at work.... some guy is an asshole and then he's not an asshole.....

This is great , I never thought to think that there might be four other rules.

What a load of old bollox..... Scott is one of baseball's most complex characters. I doubt that, it's so typical that the journalist feels the need to point out that Scott likes Latinos. Amy Nelson is not a complex person.

Bob Raissman asked Ojeda about his Kilimanjaro eruption: When the media looks for a go-to guy in the Mets clubhouse R.A. Dickey is front and center. The boss scribes, for good reason, are enamored with him. That didn't stop Bob Ojeda, SportsNet New York's Mets studio analyst, from advising the knuckleballing philosopher to watch what exits his mouth. Ojeda arrived at this conclusion - very loud and in no uncertain terms - after the Mets dropped the first game of a Saturday (April 16) doubleheader to the Braves, 4-2. The game aired nationally on Fox. During the tilt, with the Mets trailing by two runs, Dickey did a live interview from the dugout with Tim McCarver and Matt Vasgersian. Their questions were not about baseball. Instead, they asked Dickey about his plans to hike up Mount Kilimanjaro in January with two pals. Dickey will be doing this for charity. Dickey, as usual, came off genuine and likeable. On SNY's postgame show, after the Mets loss, Ojeda said Dickey's interview "drove me up a wall." "When you got one of your pitchers talking during the game about what he's going to do next winter, that's inexcusable," Ojeda ranted. "That's a mental error as far as I'm concerned. We're in April and you're worried about next January?" More than insinuating Dickey was showing a lack of focus, Ojeda said he couldn't remember a player talking about his "upcoming" offseason so early in the regular season. "I honest to God don't think I've ever heard that in my 50 years in baseball," Ojeda said. Okay, but there's a good chance Dickey had no advance notice about what the Fox voices would ask him. A few days after his postgame commentary, someone brought that to Ojeda's attention. "If R.A. didn't know what they were going to ask him that's fine. You answer the question. It's a great cause, it's a great thing he's going to do, but then you got to spin it back to baseball," Ojeda said. "He's not schooled enough in media. It's all new to him. He came out of nowhere. He had a fantastic year, now people are interested in what he's doing. "But I believe there's a time and a place for those conversations," Ojeda said. "And I didn't think in the dugout, down two (runs), (in a) five-game losing streak in April, is the time to be talking about hiking up Mount Kilimanjaro in January. By the way, I don't expect the player to agree with me on that." Ojeda said as he was listening to Dickey's interview "the coach in me came out." He said he thought about Terry Collins "struggling" to get his team's attention. "You have to be savvy enough to understand the fans are watching. Fans want to hear: 'We're struggling right now, but my main focus is on this ballclub. I want to turn this thing around.' It can't be fake. You've go to feel it." Ojeda understands his analysis of this Dickey thing might be considered too rigid. He doesn't really care. "If that's old school, fine. I'm fine with being old school," Ojeda said. "But there are constants about this game. Some things I believe in over the years never really change." Ojeda is having a fantastic year......the guy is becoming must see TV...... seriously though , he has gotten to be quite good.

LeiterWagnerFasterStrongr wrote: Benjamin Grimm wrote: What, exactly, goes on in the BJ's clubhouse? Whatever it is, I'm pretty sure it's wholesome. Why else would they let kids in at a discounted rate? Mr. Met always pays a visit.....the dirty fucker

Edgy DC wrote: If he's the best choice (he certainly may not be) then what complications should we be concerned with? I'm concerned about his mindset too.....

Edgy DC wrote: I'm curious if we'll see Beltran in center at all during Pagan's DL stint. While there are perfectly defensible competitive reasons to not put him there, too often --- at least since 1990 --- when a star gets moved to a lesser position, political reasons keep him from ever returning there, even when it makes sense, except for the most dire of emergencies. I don't think so , I'm of the mindset now that Beltran is a right fielder , no reason to complicate things Terry.

John Cougar Lunchbucket wrote: So I didn't see any baseball for the last week, but does Byrdak still suck? he may be sucking someone in the pen cos he rarely sees the mound, in fact his appearance this weekend was probably his first since you left.

Those two and the clapping ones, Orson Welles being one.

Alderson mentioned something about eight to ten days in the pen for Gee, didn't hear what was after that.

Gee whiz

Great to see Beltran playing every day.

Anyway, one at a time. Fuck Collins and his fucking �we�ll take eight of our next ten� bullshit. Learn from Bobby V, the master of ONE GAME AT A TIME you holler-guy asshole. (KTE G-Fafif is G-Fafif with the bark stripped bare, especially when saddled with a cold and needing to wrap this up to get to the doctor to have stitches removed from a finger he stupidly cut open a week ago � details here if you care.) True, I wasn�t that happy with Valentine when he told Mo Vaughn to stow it when Vaughn suggested the game after that was a must-win because BV was trying to maintain an even keel, but there are exceptions to every rule. this is important , I remember well the handbags that Bobby and Mo engaged in back then , IIRC were the D-Backs the opponent back then too? One game at a time is yer only man. nice work Greg

seawolf17 wrote: "Probably Wright too"?!?! Are you effing kidding me? That Debbie Downer skit is one of my favorite SNL moments. mine too....... Just for the heck of it , any gems in the making at the top of the draft....like real game changers?

Edgy DC wrote: metirish wrote: last night was great but I have little confidence that this will be any sort of spring board as it were to long win streaks or even series wins , this is a bad team. Believe anyway, I say. It's just your heart. I will , and I didn't mean to turn your thread in to a Debbie downer The Mets snap a fifteen game laugher-less streak , last laugher was 04/03 against the Marlins winning 9-2

last night was great but I have little confidence that this will be any sort of spring board as it were to long win streaks or even series wins , this is a bad team.

Couldn't hit and didn't have much with the glove either.

I do believe that is the first time I have seen a four base error.. Ike with a towering home run...wow