The Mets’ trouble on the field may not be the only headache for the team; higher interest rates may be on the horizon, too.
If they are downgraded to below investment grade, or junk, the team may have to pay higher interest rates if it issues new debt.
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In a statement the Mets said: “This is related specifically to Ambac and is not reflective of anything else related to club business or the strength of the underlying credit. It has no impact on our operations.â€
Full story in the Times.
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“It has no impact on our operations.”
Too bad. I want the economic mess – Madoff and all – to sink the Wilpons financially. They’re the bottom-feeders of pro sports team owners IMO. Only Islanders owner Charles Wang is worse. And yes, I put the Dolans far ahead of the Wilpons.
Come on Fred! Take a bath. Let’s go Jeff! Get that $500 million haircut. Just get the hell away from my team.