NEW YORK (CBSNewYork) – More great news has come out of Flushing.
As if their disappointing second half of the season that saw their playoff hopes go under wasn’t bad enough, the New York Post reported on Thursday that the Amazin’s are expected to lose $23 million this season.
It could be spun to be encouraging news — as general manager Sandy Alderson said that the Mets lost $60 million last season — but any way you cut, the club appears to be bleeding cash.
New York cut its payroll by roughly $50 million from 2011 to 2012, and Alderson recently told WFAN’s Mike Francesa that the payroll for the upcoming season will be in the neighborhood of $100 million.
The Mets don’t have much wiggle room at the moment, as both Jason Bay and Johan Santana — one of whom is not producing and one of whom has been shut down for the season — are owed a combined $50 million next season. Bay’s contract includes a vesting option for a fifth year and the Mets hold a $25 million option for Santana in 2014. If the Mets decide not to pick up that option — which there is virtually no chance of them doing — they will be required to pay a $5.5 million buyout.
Once both players likely come off the books in 2014, New York’s front office will have far more to work with.
The Mets have also been doomed at the gate yet again, as attendance has continued to take a hit at Citi Field due to the team’s struggles. Citi Field is averaging 29,023 fans per game, good enough for 17th in the Major Leagues. That figure is a decrease of 1,085 attendees per game from last season.
Attendance is projected to be extremely low for the remainder of September, as New York has fallen out of contention for a Wild Card berth.
The Mets chose not to comment on the reported financial losses.
The hits just keep on coming, Mets fans. Sound off with your thoughts and comments below…