In MLS Commissioner Don Garber's annual State Of The League Address, among the topics discussed was future league expansion plans. The league currently includes 16 teams, will expand to 18 with the addition of franchises in Portland and Vancouver next season, and will further expand to 19 in 2012 with a franchise in Montreal. Garber stated that the league is focused on making a second New York franchise the league's 20th team, with a target date of 2013. Relevantly, Garber said that "[the league has] been meeting with the city, with the Wilpon family and the owners of the Cosmos name and brand and other investors who have expressed interest."
Seems to me that the Wilpons couldn't be in such bad financial straits if they're considering investing in a second professional team.