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.
- John Schuerholz defines “The Braves Way.” And it’s a pretty big pile of crap. 12
- And That Happened: Monday’s scores and highlights 14
- Frank Wren fired as Braves GM, John Hart to take over on an interim basis 42
- AND DOWN THE STRETCH THEY COME! Sizing up the final week of the regular season 36
- Must-Click Link: Derek Jeter opens up. Seriously, he really does. 45
- And That Happened: Sunday’s scores and highlights 58
- Must-click link: Tommy Harper and the Red Sox’ racist past 58
- Settling the Score: Saturday’s results 34
- Geddy Lee’s baseball obsession makes it really hard for me to hate Rush (123)
- It certainly looks like Barry Bonds’ criminal conviction is going to be overturned (107)
- Ron Washington claims he resigned because he cheated on his wife (103)
- Giants CEO Larry Baer thinks advertisements on uniforms are coming soon (88)
- Umpire ejects jackwagon fan heckling Bryce Harper in Atlanta last night (85)