The baseball team and the regional sports network of which it owns 65%, SportsNet New York, have over $1 billion in debt combined, according to sources. The Mets have about $430 million of debt while SNY has near $750 million of debt. Of that $750 million, the owners of the Mets are on the hook for some $450 million, putting their total obligations near $900 million
I am not a financial reporter, but I find this story on Forbes.com very interesting, and it does seem to match what some other folks on the internet are saying.
I link, you decide.