Cash Strapped

Mets' owner Fred Wilpon is looking to secure another loan for operating expenses. 

It was revealed last week that the Mets were loaned $25 million from MLB last season to help cover operating expenses for the club. Ouch! Now it's being reported that the Mets are trying to secure another substantial loan in order to cover operating expenses. Bottom line -- this team is in financial disarray. This all stems from the Bernard Madoff ponzi scheme in which billions of dollars was stolen. The Wilpons, who own the Mets, are being sued by a trustee for at least $300 million and as much as a $1 billion.

The Wilpons maintain they were simply a victim of Madoff's scheme. No matter what the issue is here, they are still operating a professional baseball team and it's very cloudy as to what the financial future is with the team. It is not known if the players are in danger of not being paid from time to time, but that's a problem the players need to start thinking about. 3B David Wright already made it a point that this is an issue, in which a resolution is needed quickly.

The Wilpons are looking to sell about 20-25% of the team. There's already been a couple of suitors out there that have popped up. It was reported the team contacted Donald Trump about buying a percentage, and Trump reportedly wants to have full ownership. That won't work out if the Wilpons remain steadfast on controlling the majority of the team.

There is a simple resolution to all of this. The Wilpons need to sell EVERYTHING. Don't strangle the ball club and Mets' fans. The Mets are in the best media market in America. They'll get a ton of people who want to buy. Securing multiple loans is not the way to go, because that backs them up even more with that obligation on their back. The Wilpons have had full ownership since 2002, and Fred Wilpon first bought a stake of the team back in 1980. Just give it up and let the players perform without having money hanging over their heads. Let the Mets fans enjoy what could unpredictably be a good season for them.