Jan 31, 2014, 7:47 AM EDT
The Wilpons’ financial crunch, brought on by being taken in a Ponzi scheme by their friend Bernie Madoff, almost cost them the team a couple of years ago. It did cause them to take loans with restrictive terms, both from banks and from Major League Baseball. That in turn pushed payroll way below that which a team in a market like New York should be. It’s been something of a depressing slog, frankly.
But now, according to the New York Post, there’s some reason to hope of a financial thaw. It comes in the form of a new $250 million loan which will refinance an existing loan that had a massive principal payment looming early this year. The interest payments will remain about where they were before but (a) no principal payment will be due for seven years; and (b) payroll restrictions built in to the current loan will be gone.
This doesn’t mean that the Mets will suddenly sport $150 million payrolls, but it does give the team breathing room to add players who actually make some money at some point.
Of course, it also means that the Wilpons will not be forced to sell the team due to a cash crunch, paving the way for the Mets’ own version of Magic Johnson to swoop in and make a broke franchise immediately flush. And I know many Mets fans who really, really wish that would have happened.
Jul 5, 2015, 4:15 PM EDT
Strasburg suffered the oblique strain Saturday in his start against the Giants. He had thrown 3 2/3 scoreless innings in that outing and was also sharp in his previous two starts since returning from a trapezius injury.
Jul 5, 2015, 3:02 PM EDT
It looks, at first glance, like another smart rebuilding move for the determined-to-rebuild Phils.
Jul 5, 2015, 1:46 PM EDT
Garcia boasts a 1.69 ERA and 0.88 WHIP in seven starts (48 innings) this season. He’s missed a ton of time to injuries in his career, but most of the major problems have been elbow- and shoulder-related.
Jul 5, 2015, 12:24 PM EDT
Soler wound up missing over a month with a sprained left ankle.
Jul 5, 2015, 11:19 AM EDT
Schoop originally landed on the disabled list on April 18 after being diagnosed with both a PCL tear and MCL strain in his left knee.
Jul 5, 2015, 10:32 AM EDT
Check out this wrap-around style montage of all the July 4 action in Major League Baseball …
Jul 5, 2015, 9:40 AM EDT
Josh Hamilton has a .954 OPS in 10 games with the Rangers. The problem is he’s only played in 10 games.
Jul 5, 2015, 8:53 AM EDT
The best fireworks on July 4 came from the Angels.
Jul 4, 2015, 11:55 PM EDT
Chi Chi Gonzalez posted good results in his first seven major league starts, but he’ll cede his rotation spot to Matt Harrison and head back to Triple-A.
Jul 4, 2015, 11:20 PM EDT
But not even science could master the knuckleball.
Jul 4, 2015, 10:45 PM EDT
Kris Bryant had a monster night at the plate on Saturday against the Marlins.
Jul 4, 2015, 10:26 PM EDT
Jarred Cosart had a rough outing on Saturday and will try to straighten things out at Triple-A.
Jul 4, 2015, 10:15 PM EDT
The Orioles got Jonathan Schoop back after nearly three months. They sent Ryan Flaherty to Triple-A to make room for him.
Jul 4, 2015, 9:25 PM EDT
The Braves are trying to shop an expensive, ineffective Chris Johnson.
Jul 4, 2015, 9:07 PM EDT
The Twins added some bullpen depth in signing Scott Atchison to a minor league deal.
Jul 4, 2015, 8:35 PM EDT
The Giants tried to get creative to catch Bryce Harper napping off of second base.
Jul 4, 2015, 7:45 PM EDT
John Axford is back with the Rockies, ready to continue closing out games.
Jul 4, 2015, 6:55 PM EDT
Ervin Santana is back. Trevor May’s rotation spot has been freed up to make room for him.
Jul 4, 2015, 6:05 PM EDT
Avisail Garcia robbed Chris Davis of a home run. It was as glorious as it sounds.
Jul 4, 2015, 5:28 PM EDT
Ross, 38, is batting .189/.302/.284 over 87 plate appearances this season.
- Phillies acquire No. 1 international signing slot for 2015-2016 from the Diamondbacks 7
- Orioles activate Jonathan Schoop after 10-week absence 6
- Settling the Score: Saturday’s results 28
- Video: Kris Bryant hits a grand slam as part of a two-homer, six-RBI night 8
- Stephen Strasburg exits start with tightness in left side 10
- In the wake of the Miguel Cabrera injury the Tigers have few good options 20
- Mets general manager Sandy Alderson says Terry Collins’ job is safe 11
- Calf injury sends Miguel Cabrera to the disabled list for the first time in his career 7
- Settling the Scores: Sunday’s results (99)
- Mike Scioscia says Josh Hamilton should apologize to Angels owner Arte Moreno (90)
- What Yasiel Puig being a pain in the butt means. And what it doesn’t mean. (78)
- Report: Jerry Dipoto “definitely out” as Angels GM (77)
- Brian Dozier is the best second baseman in baseball (72)