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.
- Both the Phillies and the Rangers did well in the Cole Hamels trade 0
- Rangers land ace left-hander Cole Hamels from Phillies 86
- Mets, Brewers call off reported Carlos Gomez trade 71
- Dodgers, Marlins, Braves trade involving Mat Latos “simply being held up by paperwork” 70
- The Tigers are going to “reboot;” plan to trade Price and Cespedes 73
- Why do managers wear uniforms anyway? 49
- And That Happened: Tuesday’s scores and highlights 51
- Astros “making a strong effort” for Phillies ace Cole Hamels 32
- The MLBPA is considering withholding cooperation with ESPN, Fox over Colin Cowherd’s comments (157)
- The Cubs are in discussions with the Phillies on Cole Hamels (146)
- Colin Cowherd wonders how baseball can be considered “complicated” if Dominicans can understand it (129)
- Major League Baseball rips Colin Cowherd in an official statement (123)
- Settling the Scores: Wednesday’s results (106)