By Rick Horrow and Karla Swatek
March 1, 2013
Despite playing in the Big Apple, the New York Mets continue to struggle financially. The Mets expect to lose $10 million this season, which would mark the third consecutive year the team has posted a loss. It doesn’t help matters that attendance at Citi Field is projected to fall for the fourth straight season, a trend that began when the stadium opened in 2009.
Although Mets owners the Wilpon family will make $65 million from their regional sports network SNY, $43 million of those profits will go towards covering Citi Field’s debt payments. That leaves little money for the team to use on players. The Mets’ opening day payroll is projected to be $75 million, the team’s lowest since 1999, and MLBPA chief Michael Weiner recently called out the team for their lack of player spending.
Of course, things could always been worse for the Mets. The division-rival Miami Marlins expect an Opening Day payroll of $45 million, down from $101 million last year. In fact, Miami’s payroll is so low that 15 of the other 29 teams more than double it.