Jan 11, 2012, 9:00 AM EDT
The New York Daily News reports that the New York Mets are close to sealing the deal on five of the $20 million shares they’ve been trying to sell. The owners have been approved by Major League Baseball and the deals could close by the end of the month. The Daily News:
With that, the team would raise enough capital to repay $25 million owned to MLB, a $40 million bridge loan to Bank of America and other club debts and operating expenses that have emerged in the wake of the Bernie Madoff Ponzi scheme scandal.
There is a reported overall total of $350 million in debt — and the team has reportedly lost money in recent years — so that doesn’t handle everything. But it’s better than nothing.
Now, I’d just like to get a gander at the sort of person who gives the Mets $20 million for perks that are basically not much better than being a season ticket holder.
- Cardinals acquire Justin Masterson from Indians 32
- There’s a “very good chance” the Red Sox trade Lackey and Lester 49
- Hey, Rube: Phillies pay dearly for Amaro’s misguided loyalty 67
- And That Happened: Tuesday’s scores and highlights 56
- Dodgers announce Vin Scully will return for 2015 season 49
- Jon Lester scratched Wednesday amid trade speculation 38
- Rays are “talking and willing” to trade ace lefty David Price; Cardinals and Dodgers interested 41
- Phillies wanted Joc Pederson, Corey Seager, and Julio Urias from Dodgers for Cole Hamels 91
- Expert’s Corner: How to troll fans of all 30 teams (201)
- “Caucasians” t-shirts are hot sellers on Canadian Indian reservations (198)
- Verducci: baseball should think about an “illegal defense” rule to combat shifts (165)
- Must-click link: sexual depravity — and possibly rape — in the minor leagues (104)
- The Nationals and Orioles dispute over TV money is about to explode (103)