Jan 5, 2013, 3:53 PM EDT
The resulting stability and financial muscularity of SNY and similar networks make them low risks to banks. Late last month, SNY refinanced $450 million in existing bank loans at lower interest rates and borrowed at least $250 million more. With their 65 percent ownership of SNY, Wilpon and Katz should have walked away with about $162.5 million.
In theory, the Mets could go out and use this cash to add talent to the team, but there’s no indication they are willing to do anything other than bargain hunt or perhaps re-sign Scott Hairston. Other more likely scenarios include paying down part of the existing bank debt on the team or bracing for further operating losses. Fun stuff.
- 10 nominees for Hall of Fame’s Veterans Committee announced 8
- Bochy’s championship resume ranks among game’s best 11
- Alex Gordon would have been a dead duck had he tried to score 79
- Video: Pablo Sandoval catches final out in foul territory, Giants win 2014 World Series 9
- Madison Bumgarner pitches the Giants to their third World Series win in five seasons 86
- Madison Bumgarner named World Series MVP … obviously 21
- Pablo Sandoval sets new postseason hits record 10
- There’s nothing better than a Game 7? Well, maybe there is. 24
- A veteran says enough is enough when it comes to tributes for the soldiers (280)
- Jose Canseco shot his middle finger off (148)
- Shocker! Joe Maddon to opt out of his contract and leave the Rays (142)
- Oscar Taveras dies after car accident in the Dominican Republic (140)
- 10-0! The Royals romp, tie it up at three games a piece (109)