Source: Phillies' 25-year TV rights deal with Comcast SportsNet is worth $2.5 billion in addition to an equity stake and some ad revenue.It stands to reason the Philadelphia Phillies won't be racing any economic issues for the foreseeable future, as its been reported that the team has inked a 25 year deal worth more than $2.5 BILLION dollars. Yikes...
— Matt Gelb (@magelb) January 3, 2014
The only reason its so demoralizing is that the Mets went an alternate route and established their own cable network. As a result, they're reportedly on the hook for $450 million of the $750 million in total debt owned by SNY. Life just isn't fair...
The debt owed by the team with regards to both SNY and Citi Field, combined with the bond payments its responsible to make puts the overall debt of the franchise at approaching $900 million overall as of early 2013. It is believed the be the major contributing factor for the limited payroll spending in recent years. So, while the Mets continue to dig themselves out of the financial hole they've created, their rivals down the turnpike are now rolling in money. Perfect.
No comments:
Post a Comment