Howard Megdal has been quite passionate about this subject. In today’s article he has three major observations, I share one of them…not to omit the other two, but because it’s bad blogger etiquette to grab more than I already have. So read Howard.
The settlement is far from getting the Wilpon group out of financial difficulties. Remember, the sale of minority shares in the team- often ascribed to the lawsuit, or “uncertainty” from the suit, as it was described by the Mets when it started- is not intended to pay any settlement at all, and never was. The $200 million is intended to pay off current pressing debts like the $40 million bridge loan due back to Bank of America, $25 million due back to Major League Baseball, and a portion of the $430 million debt against the team due back in 2014. That portion was $100 million when the deal to David Einhorn nearly went through last summer, and there’s no reason to believe it would be less now.
via The Wilpon Settlement: What You Need To Know | The LoHud Mets Blog.