Saturday, January 05, 2013

Special Report: Mets Have Some Cash to Spend, Maybe on Players???

The Mets’ owners, who were financially hobbled by Bernard L. Madoff’s immense fraud scheme, now have about $160 million in new money to spend..

The cash infusion, comes thanks to their majority ownership of the SNY regional sports network. One benefit of owning a network like SNY is the ability to borrow money against it. SNY’s annual revenue is in the hundreds of millions of dollars because of monthly subscriber fees that keep increasing regardless of team performance.

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. The refinancing was first reported Friday by Bloomberg.

The Mets could use the money to either pay back loans or working capital... A New York Times report suggest the Mets can also get into the Free Agent Market, especially the outfield market...

The best free-agent outfielder still available, by far, is Michael Bourn, the 30-year-old, left-handed-hitting center fielder who hit .274 for the Atlanta Braves last season with 42 stolen bases. But Bourn is looking for big money, perhaps as much as $100 million in a multiyear deal, and is represented by the uncompromising Scott Boras, so rule the Mets out.....

But then again,  Vince Gennaro, a consultant to several major league teams, suggested the Mets should at least think about Michael Bourn, particularly if he remains unsigned as spring training draws closer and his price drops.

“They should give serious consideration to investing in the near-term competitiveness of the team,” Gennaro said of the Mets’ owners.

He added: “The Mets have two issues. One, the prospects for the team, and two, perceptions about the owners’ commitment to winning. They could make a dent in both of those issues by parting with some of this money.” 
More logically, the Mets will probably go after OF Scott Hairston, who is demanding a whopping $8 Million for two years.. Yet the Mets have caved in to a two year deal... WOW!

The Mets also need monetary flexibility to get a starting pitcher to replace R.A. Dickey... Perhaps the Mets can grow some balls and dive in grab a  Kyle Lohse, the best available pitcher.. By the way Kids, he was 16-3 with a 2.86 ERA... and no one has made an yet to date..

It seems the Mets might go the Chris Young route, but he has to be able to give innings and be healthy... The Mets just lost 200 innings from Dickey...

Lastingly with more money flexibility the Mets have to re-tune the bullpen with a ailing Frank Francisco, Future Closer in waiting Bobby Parnell and a cast of minor league competitors...

All these have to be factors for their financial scrambling which is why none of these areas have not be tackled yet.. But hopefully now we can see some roster moves for the 2013 New York Mets...

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