Jan 4, 2013, 12:30 PM EST
I guess he hasn’t technically defaulted before, so sure, why not give a guy who has spent two years spinning financial plates close to a billion bucks:
The owners of the New York Mets obtained at least $700 million in loans to refinance debt, according to a person with knowledge of the matter. The financing will be used to replace existing credit lines and provide additional funds to the parents of the Major League Baseball team, said the person, who asked not to be identified because the information wasn’t public.
In other news, Standard & Poor’s cut the ratings of the debt used to finance Citi Field. They’re now BB, which is two levels below investment grade. Howard Megdal’s story on this from yesterday digs into the reasons for that. Which for Mets fans, has to be rather depressing.
- Roy Halladay is retiring 53
- Tony La Russa Bobby Cox, Joe Torre all unanimously elected to the Hall of Fame 43
- Tony Blengino says recent report on Seattle front office is “just the tip of the iceberg” 60
- Rakuten Golden Eagles appear likely to allow Masahiro Tanaka’s departure to MLB 49
- 2013 Winter Meetings Preview 23
- Robinson Cano agrees to $240 million deal with Mariners (260)
- Yankees agree to seven-year, $153M contract with free agent outfielder Jacoby Ellsbury (160)
- Report: Mariners willing to offer Robinson Cano a 10-year, $240 million deal (143)
- Report: Yankees have agreed to a three-year deal with Carlos Beltran (125)
- Brett Gardner is drawing “significant” trade interest (112)