The Mets, long one of baseball’s most highly valued franchises, have lost millions of dollars in recent years, including nearly $50 million in 2010, according to two people briefed on the team’s finances.
Attendance and revenue has experienced a gradual decline over the years and expect the same for the upcoming 2011 season. The organization as a whole is facing many challenges currently. The owners are being sued for $1 billion by the trustee representing Bernie Madoff's Ponzi scheme.
Apparently, the owners are trying to sell a part of the team to stay afloat. The commissioner, Bud Selig, has already given the Mets a loan worth $25 million.
The problem with this whole ordeal is that according to the trustees, the owners have been using their profits from the Madoff investments to sustain and promote business. This accusation does not bode well for the Mets organization as they try to rebound from their recent losses on and off the field.
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