NEW YORK -- The New York Mets lost nearly $50 million in 2010, The New York Times reported on its website late Thursday night.
The Times cited two people briefed on the team's finances. The team's losses are projected to hit another $50 million or more this season based on several factors, including advance ticket sales.
Two years ago, the Mets contributed more than $40 million to baseball's revenue-sharing pool.
In 2009, the Mets opened Citi Field and the club had revenue of more than $350 million. Still, the franchise has lost close to $10 million, according to The Times.
The team struggled again in 2010, and attendance dropped with almost 600,000 fewer fans.
According to The Times, overall revenue slid by more than $60 million, and net losses, after interest, totaled roughly $50 million.