Showing posts with label Kyle Lohse. Show all posts
Showing posts with label Kyle Lohse. Show all posts

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.
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