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.
May 25, 2015, 5:00 PM EDT
When I think solemn remembrance of the military dead, I definitely think John Kruk and Curt Schilling in weird jerseys.
May 25, 2015, 4:00 PM EDT
Dodgers fans have been through this before, but hope is hope.
May 25, 2015, 3:55 PM EDT
Loney was hitting .275 with two homers and a .698 OPS in 30 games.
May 25, 2015, 3:30 PM EDT
He thinks it’s silly that guys are risking 8-10 game suspensions for doing something everyone does and everyone thinks is sensible.
May 25, 2015, 3:15 PM EDT
Ishikawa started (out of position in left field) for the Giants during last year’s World Series-winning playoff run.
May 25, 2015, 2:48 PM EDT
May 25, 2015, 2:30 PM EDT
“Don’t they want to win a championship?”
May 25, 2015, 2:10 PM EDT
Doolittle is coming back from a partially torn rotator cuff.
May 25, 2015, 1:47 PM EDT
Last time he started in left field and batted fifth for the Rangers? July 27, 2010.
May 25, 2015, 1:15 PM EDT
It might be too little too late for the A’s considering their 16-30 record.
May 25, 2015, 1:00 PM EDT
The world of illlllluuuuuusion
May 25, 2015, 12:40 PM EDT
Playing through the injury did not work at all.
May 25, 2015, 12:00 PM EDT
Mike Scioscia ran Mike Napoli out of Anaheim. Napoli has beaten the hell out of the Angels ever since.
May 25, 2015, 11:14 AM EDT
I guess he was too obvious about it.
May 25, 2015, 10:41 AM EDT
Initially the Royals planned to merely push back Duffy’s next start.
May 25, 2015, 9:49 AM EDT
“My arm feels fine, my body feels fine.”
May 25, 2015, 8:10 AM EDT
Do what you’d like this Memorial Day. Wave a flag. Protest a war. Get great deals at Mattress Wholesalers’ Crazy Memorial Day Sale. But remember that Memorial Day simultaneously is about none of those things and allows for all of those things.
May 24, 2015, 11:35 PM EDT
The struggling Athletics got a scare on Sunday when Sonny Gray was hit by a comebacker, but he’s expected to make his next start.
May 24, 2015, 10:25 PM EDT
Veteran shortstop Jose Reyes will return to the Blue Jays on Monday after dealing with a cracked rib.
May 24, 2015, 9:20 PM EDT
Bernie Williams was honored with his induction into Monument Park at Yankee Stadium on Sunday.
- Reds finally shut down Devin Mesoraco seven weeks after hip injury, surgery may be needed 4
- Mike Napoli continues to kill the Angels 5
- Brian Matusz suspended eight games for a foreign substance 8
- Settling the Scores: Memorial Day Edition 54
- Giants designate Casey McGehee for assignment 25
- Yan Gomes returns to the Indians’ lineup after missing six weeks with a sprained right knee 0
- Marlins jump in Clevelander pool after snapping losing streak 22
- Settling the Score: Saturday’s results 19
- And That Happened: Wednesday’s scores and highlights (133)
- Bryce Harper on Marvin Hudson ejection: “I don’t think 40,000 people came to watch him ump” (132)
- Bryce Harper ejected for second time in a week (122)
- GM Dan Jennings to be named the Marlins new manager. And it’s a terrible idea. (111)
- And That Happened: Tuesday’s scores and highlights (101)