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New details of Mets' finances come to light

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Loans against the team and SNY continue to hamstring the Mets, says Howard Megdal.

Pool Photo-USA TODAY Sports

Mets owners Fred Wilpon and Saul Katz will be footing debt balloon payments until December 2045, according to Howard Megdal. He also writes that interest on the team's debt, plus debt balloon payments, had exceeded the Mets' payroll in recent years and that assistant general manager John Ricco doesn't know what the team's payroll is.

In July, ownership refinanced its debt, one of several times it had done so over the past few years. The Mets' payroll over that time has ranked below the average major league team. As league revenue increases and lucrative TV deals create a cash boon for teams around the league, the team's payroll has only increased slightly.

Megdal highlights the opportunity the Mets have right now, with a great young rotation that's not earning much money, to spend money on other positions to make the Mets a dominant team for the next several years. At the moment, the Mets' 2016 payroll stands at just over $101 million.