Mets Owner Wants To Lose
Forbes has estimated the value of the franchise at $845 million, making a quarter share worth less than $230 million. Forbes has also reported that the book value of the Mets and their new stadium Citi Field, is a net negative because of heavy debt. Wilpon and partners have borrowed against the Mets and against SportsNet New York, the regional TV network that airs Mets games, and owes money on the bonds used to finance the stadium.
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The Mets also acknowledged on Friday, February 25 that they had taken a $25 million loan from Major League Baseball, according to the New York Times but sources told the Times that the team won't be getting any more help from MLB.
A representative from Picard's office told ABC News he had no comment at this time.
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