Last year, with the owner of the Texas Rangers having defaulted on more than a half-billion dollars in loans, (Major League Baseball commissioner Bud) Selig provided a total of some $40 million to the club.
“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.”
…The decision by Mr. Selig to assist the Rangers last year angered the owners of some rival teams. The Rangers eventually used some of the money to obtain pitcher Cliff Lee, who then led the club to its first World Series appearance.
Wow. Here’s the truth: when the Yankees go out and spend money, it’s their own damned money.
Going forward, any and all complaints about the Yankees payroll is just noise.
The original loan to the Texas Rangers and their subsequent acquisition of Cliff Lee was outrageous. Yeah, I’m a Yankees fan but the Rangers were essentially in bankruptcy when they did it and THE ONLY WAY they could have swooped in acquired Lee at the last minute was with Bud Selig’s financial help.
The Mets loan is just scary and sad. And it shows the Wilpons are not being completely honest with the fan base. It’s the early days of Spring Training and the Mets can already be written off for the season. That’s sad for the second team in NYC. “In the best interest of baseball,” Bud Selig should poke the Wilpons to sell the team to owners who are not financially crippled.
I feel BAD for Mets fans.