Almost a month ago, I wrote about the story of SpongeTech, the “smarter sponge” that spent all its money — much of which it allegedly didn’t even have — on sports sponsorships. The creditors in the bankruptcy proceedings have finally come forward with how much money they have owed and the carnage, as expected, is in the millions. Below is the list, in order of how much they are owed.
The Mets — whose owner Fred Wilpon lost money in the Madoff scandal and was recently sued as a result of alleged company retirement fund losses related to Madoff — are the largest creditor, when combining the $2.6 million that the team is owed with money owed to Sportsnet New York, the network that the team partly owns.
Interestingly, Creative Artists Agency (CAA), which negotiated many of the deals, either got paid by Spongetech or is simply not stepping forward to claim what the agency is owed.
New York Mets (Queens Ballpark & SNY): $2,775,000
Tampa Bay Buccaneers: $2,697,600
Arizona Diamondbacks: $552,557.48
New York Knicks/Rangers (owned by Madison Square Garden): $511,700
WFAN-AM (New York sports radio station): $322,748
Chicago Bears: $260,000
Charlotte Bobcats: $195,000
ANC Sports (sold signage): 195,751.05
Washington Redskins: $170,000
Cleveland Cavaliers: $170,000
New York Islanders: $150,000
Toronto Blue Jays (owned by Rogers Media): $134,520
Cleveland Browns: $131,807.25
Houston Texans: $117,633.32
Cincinnati Bengals: $114,285
Boston Red Sox: $78,125
Chicago Blackhawks: $73,251
Miami Dolphins: $60,000
Dolphin Stadium: $60,000
Levy Restaurants (provides US Open food): $50,000
Colorado Rockies: $43,750
Long Island Ducks: $25,500
New York Yankees: $20,478
ESPN Radio: $19,250
Los Angeles Angels: $9,125
Questions? Comments? SportsBiz@cnbc.com