SAN DIEGO – The San Diego Padres obtained a $50 million loan late in the 2023 season to help pay some of the team’s expenses, including its player payroll, according to The Athletic.
Per The Athletic: “MLB teams commonly tap into lines of credit to pay their bills, prompting some officials in the sport to suggest any concern should be tempered because the Padres were ultimately creditworthy enough to draw the loan. But other officials briefed on the team’s finances who were not authorized to speak publicly viewed the Padres’ situation as worrisome.”
For the 2023 season, the Padres sold out 59 of its 81 games at Petco Park and drew a record 3.3 million fans.
Source: Loan Digest (loandigest.net)
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