The Mets lost $50 million last year

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When it was learned that the Mets took a loan from Major League Baseball, it was characterized by some as an instance of a team merely addressing a short term liquidity problem during those cold dark days between seasons.  Seems it was a bit more than that. The New York Times:

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 … the club’s falloff in revenue was the largest year-to-year decline for any major league team in recent years … overall revenue slid by more than $60 million

Though team financial data is a closely-guarded secret, that’s thought to be the largest slide in revenue since the 1998 Florida Marlins, reeling from their World Series winning roster being torn to shreds, slid from fifth to 13th in attendance in the National League.  In the past three seasons the Mets have slid from first to fifth to eighth in attendance. I would assume that their projections of what life would be like upon moving in to Citi Field didn’t anticipate that.

But hey: Castillo and Perez are gone, and I was led to believe that once that happened, everything would be OK!

Batting champion Luis Arraez beats Marlins in salary arbitration

Kamil Krzaczynski-USA TODAY Sports
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ST. PETERSBURG, Fla. — AL batting champion Luis Arraez won his arbitration case and will get a $6.1 million salary from the Miami Marlins, who acquired the All-Star infielder from the Minnesota Twins last month.

Miami argued for $5 million during a hearing before John Stout, Mark Burstein and Scott Buchheit. Arraez received a raise from $2.2 million.

Marlins pitcher Jesus Luzardo went to a hearing and asked for a raise from $715,000 to $2.45 million, while Miami proposed $2.1 million. The case was heard by Stout, Melinda Gordon and Richard Bloch, who were expected to issue their decision.

Arraez hit .316 with eight homers, 49 RBIs and a .795 OPS last year for Minnesota, starting 61 games at first base, 34 at designated hitter and 31 at second. The 25-year-old was traded on Jan. 20 for starting pitcher Pablo Lopez and a pair of prospects: infielder Jose Salas and outfielder Byron Chourio.

Arraez is eligible for free agency after the 2026 season.

Luzardo, a 25-year-old left-hander, was 4-7 with a 3.32 ERA in 18 starts last year, striking out 120 and walking 35 in 100 1/3 innings. He is 13-18 with a 3.59 ERA in 45 starts and 16 relief appearances over four big league seasons.

Luzardo also is eligible for free agency after the 2026 season.

Seattle defeated Diego Castillo in the first salary arbitration decision this year, and the relief pitcher will get a raise to $2.95 million rather than his request of $3,225,000.

A decision is being held for Los Angeles Angels outfielder Hunter Renfroe.

Twenty-two players remain scheduled for hearings, to take place through Feb. 17. Among them, utilityman Dylan Moore and the Seattle Mariners have a pending three-year contract worth $8,875,000.