NEW YORK (CBSNewYork) — Big money is now being bid to own a Big Apple sports franchise.
The New York Mets now have five offers to choose from.
Buying a major league team takes a lot of money, and you need to do more than just pony up a big wad of cash.
“With the Mets, it’s believed that they’re losing around $50 million a year, so someone buying the team not only needs to come up with the $2-plus billion to purchase the team, but they also need to come up with the tens of millions of dollars to operate the team in the near future,” said Chris Smith, from the Sports Business Journal.