Things have gone from bad to worse with the New York Mets this offseason.  They lost short stop Jose Reyes to Miami, and now the team face the largest payroll cut ever.

The New York Mets are in financial ruin.  According to ESPN, Mets GM Sandy Alderson has revealed that the team lost nearly $70 million last season.  That is triggering the largest payroll drop off ever.

Right now the Mets are in a division that is only getting stronger, while they continue to falter.  During the 201l season their payroll was around $142 million.  No heading into the 2012 season that has dropped to around $90 million.  Fans should be prepared for a few years of no big signings if the organization is going to bounce back.

[ESPN]