Friday, February 25, 2011
And Frank Is Alone: MLB Secretly Loans The Mets $25M
- The owners still aren't averse to helping out those they favor, and
- They hate Frank McCourt.
Mr. Selig’s decision to give what amounts to extraordinary assistance to one of the sport’s most prominent and highly valued teams — one owned by Mr. Wilpon, a man Mr. Selig has long regarded as a close personal friend — could anger other team owners, who might wonder why their money is being used to rescue a team with a $140 million payroll.
“The fact that the loan is coming from baseball would be a jarring event because, as with the Texas Rangers, the league is effectively a lender of last resort,” said Marc Ganis, a sports industry consultant. “It would indicate the team cannot get loans from normal commercial sources, which could be taken as a sign of very significant problems.”