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The Loan (Sandomir Reporting)

Posted By Howard Megdal On January 5, 2013 @ 10:29 am In Business of Baseball | Comments Disabled

So naturally, Rich Sandomir of the Times has a detailed take [1] on the new infusion of money to the Mets. He’s the best around on this, and his reporting paints a very different picture than the Bloomberg report.
He has the Mets’ ownership clearing 160 million, not 700 million. Read the story to get the full version why.
As for what that means: you still don’t get an outfield. But neither do the owners of the Mets get a clear path to paying back the 320 million due in 2014 against the team. We all probably get another year of Mets as zombie team, though!
As it has been for years now, the Wilpons serve at the pleasure of their debtholders.
More to come. Oy, more to come.

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[1] has a detailed take: http://www.nytimes.com/2013/01/05/sports/baseball/mets-have-160-million-to-spend-on-talent-if-they-want.html?ref=richardsandomir

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