I know many folks are busy dreaming of the Choo-Trout-Stanton outfield but sometimes you might just want to stop and read a nice article from Howard Megdal from which I excerpt here.
But first the Mets need to get past that $250 million due next year. Whether they can is entirely up to J.P. Morgan Chase, which essentially needs to weigh things like whether by delaying, they stand a better chance of getting their money, or if they are better off forcing a sale now, when they are at the front of the line, chronologically. This seems to matter to J.P. Morgan Chase, as it did both when they refused to let David Einhorn ahead of them in the repayment line during negotiations in the summer of 2011, or by forcing the Mets to reduce the amount due to David Wright between the day he signed his extension and June 2014.
Hypothetically, they could give up this chronological position, and also determine that delaying without asking for any principal is best, and even be comfortable with the Mets spending on free agents this winter to help improve the chances of the Mets becoming profitable again.
via And now, the Mets’ rebuilding plans depend on J.P. Morgan Chase | Capital New York.
Haven’t we known this forever? I like Megdal, and I think the fact that the Wilpons and Dave Howard personally attacked him a couple of years ago mean he’s on to something.
This may get still worse before it gets better, but it will be fun to sit and watch it implode for the Wilpons if it comes to that.
Never thought that I would prefer Jim Dolan as my team’s owner over anyone….