New York Mets Are Set to Match $50 Million Loss From 2010, NYT Reports

The New York Mets lost almost $50 million in 2010 and stand to lose a similar amount this season, the New York Times said, citing two people familiar with the Major League Baseball team’s finances.

The owners of the Mets are trying to sell a portion of the team as they fight a $1 billion lawsuit tied to the Bernard L. Madoff Ponzi scheme.

The Mets contributed about $24 million to baseball’s revenue-sharing pool in 2010, compared with $40 million two years ago, the Times said.

Revenue fell by more than $60 million last year, the Times said. The net loss, after interest, was about $50 million during 2010, the same year the Mets secured a $25 million loan from the league.

The Mets declined to discuss finances, the New York Times said. Spokesman Jay Horowitz didn’t respond to an e-mail for comment.

To contact the reporter on this story: Nancy Kercheval in Washington at nkercheval@bloomberg.net

To contact the editor responsible for this story: Michael Sillup at msillup@bloomberg.net