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!