The one thing I don't take at face value is the claim the Mets lost $70 million this year. Between the team and SNY they have to be operating at a profit. I'm not a loan officer by trade, but the Wilpons must have some equity in the team, some kind of positive cash flow - otherwise banks wouldn't keep lending them money.
I can only presume they're draining money from the team to cover losses in their real estate holdings, and lying that the losses are coming from the Mets to justify slashing of payroll.
"The Fightin' Met With Two Heads" - Mike Tyson/Ray Knight!