Sunday, February 27, 2011

Don’t buy tickets to the Mets?

There are lots of new rumors since I declared the (financial) baseball season open. First, without doubt, the MLB loaned a chunk of money to Fred Wilpon and the Mets. Now, on to raw speculation:

The MLB is the “bank of last resort.” Wilpon won’t be able to borrow from a real bank now.

The Mets had a cash flow problem, either when they made this loan, or when the made their last large bank loan.

With their interest payments and huge Mets payroll, Wilpon risks another cash flow problem in the near future.

Where can he get cash? Well, he can sell a chunk of the Mets, but that prospective sale seems not to be going well. He might sell some of his real estate empire...

Tickets! Ticket sales! That’s where he can get the cash he needs.

Only the rumor is, ticket sales are painfully below last year. And last year’s sales were way below the previous year. Do you want to buy tickets to see a team with only one solid starting pitcher?

Here’s the more serious question: Do you want to help Fred Wilpon keep the Mets? He needs cash. Do you want to see another decade of his ownership? If you do, this is the time to buy tickets.

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