UPDATE, a comment from JPK about the original title of this post.
Disagree with your use of the colloquial “in the hole” — makes it sound like the Mets have a net worth of negative 625 million. In fact 625 million is the very, very liberal evaluation of all their debt — making assumption that all possible contingent liabilities do vest while not factoring in any of the team’s positive value either in the franchise, the stadium or the stake in SNY. I don’t think these types of financial stories can support imprecise language. Can’t really use Oscar Madisonisms like “in the hole” and still convey precisely what you are trying to convey. Think it’s worth a revision
Fair point. Like I said, I’m a fat guy who barely understands all this and I was using a colloquialism.
….
Interesting stuff in Fortune that explains that when you factor in things like the Bonilla contract, the Mets may owe more like $625m than $430m.
I’m just a fat guy drinking an iced coffee, so maybe I misunderstood the entire thing. Don’t take my writing to the bank..but here’s the article if it interests you.
it’s been widely reported that the franchise has around $430 million in bank debt. But a potential investor who spoke to Fortune on condition of anonymity points out that the team’s liabilities are closer to $625 million, from a buyer’s perspective.
via Inside the New York Mets’ financial ledger – FORTUNE Features – Fortune on CNNMoney.com.