Then consider the $200 million that the Mets thought, until earlier this month, they'd be receiving from David Einhorn...
None of that money had been earmarked for Picard.
It was expected to cover this season's losses, estimated at $70 million, a $25 million loan due back to Major League Baseball, and upcoming expenses such as the $22 million debt payment due on Citi Field.
So a best-case scenario still has the Mets in need of more than $300 million in the relatively near term.
That doesn't cover any subsequent reversals that increase their exposure with Picard, nor does it begin to cover the $500 million in loans that the team is due to pay by June 2014, the loans of around $450 million to the affiliated SNY network due back a year after that, or the roughly $600 million still due in debt payments on Citi Field.
Pay Reyes?
Are you kidding me?
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