Found February 22, 2012 on
The New York Mets have commitments for seven of the 10 ownership shares of $20 million each they are trying to sell to pay off debt and raise capital.
The sale of the limited partnership units will not take place until all 10 can close at the same time, a person familiar with the negotiations said Wednesday. The person spoke on condition of anonymity because talks were ongoing.
New York owes $25 million to Major League Baseball, a loan whose repayment was extended from November until March, and $40 million to Bank of America. The team chose to sell limited partnerships following the collapse of a deal last summer with hedge fund manager David Einhorn.
Steve Cohen, bidding to buy the Los Angeles Dodgers from Frank McCourt, is among those who have committed to become Mets limited partners.
The commitment for seven shares was first reported by Newsday. The Mets hope to be able to complete the sale in the next few weeks.
Mets owners face a trial March 19 on the suit brought by the trustee recovering money for victims of the Bernard Madoff Ponzi scheme. The trustee, Irving Picard, originally sought $1 billion from the Mets' owners, claiming they should have known millions they collected from Madoff represented phony profits. Owners Fred Wilpon and Saul Katz have denied the claims in lengthy litigation.
U.S. District Judge Jed Rakoff dismissed nine of 11 counts on Sept. 27, limiting the exposure of the Mets' ownership to about $386 million. Rakoff also made it possible the Mets' payout won't top more than $83.3 million.
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New York Mets starter, Johan Santana threw his second bullpen session of the Spring this afternoon at Digital Domain Park; tossing 29 pitches from a mound. Upon completion of his session, the former Cy Young Award Winner told reporters he was feeling good, but is still taking it “one step at a time”:
Photo taken by Mets Official Twitter Feed
It’s been a tough time, a lot of...
Here is a video of what the players had to say about Field 7 yesterday, which were making some of them play and feel a little Ruthian to say the least.
David Wright, Daniel Murphy and Lucas Duda became the first players to test out the new dimensions on Field 7 which has been altered to match the new outfield dimensions at Citi Field.
Several of the balls landed between the new...
A Hall of Fame catcher who helped lead the New York Mets to victory in the 1986 World Series is being remembered in South Florida.
Gary Carter died Feb. 16 of brain cancer. Family, friends and former teammates are gathering for a memorial service Friday evening at Christ Fellowship Church in Palm Beach Gardens.
Carter was an 11-time All-Star, playing most of his career with the...
On Dec. 30, 2009 Jason Bay signed a 4-year, $66M deal with the Mets that included a $17.5M vesting option.
You know I caught something Jason Bay said right after he arrived to Mets camp and spoke to reporters yesterday.
“For everything I have done in my career, I haven’t done it in New York, and I completely understand that.”
Lets expand on that a little… Check out these...
Veteran right-hander Jason Isringhausen has agreed to a minor league deal with the Los Angeles Angels.
The 39-year-old Isringhausen agreed to the deal Wednesday.
He went 3-3 with a 4.05 ERA while pitching in 53 games for the New York Mets last season, his 15th in the majors.
Isringhausen is third among active players with 300 career saves despite missing most of the 2009 season...
Look up and down the Mets roster. Try and find an all-star.
I dare you.
The reality of the roster that Jeff Wilpon has commissioned to send into spring training is looking more and more like the 1962 Mets than anything I have seen since the early 2000’s. And even then, at least the Mets had Mo Vaughn.
In all seriousness though, with the idiotic rule of every team having to have...
There was something very interesting and eerie regarding the plea deal made by former Mets clubhouse manager, and everybody's favorite Chris Carlin lookalike, Charlie Samuels on Tuesday. Check out the quote by Queens D.A. Richard A. Brown:
"The defendant was a once trusted employee of the New York Mets who, by his guilty plea, admits that he took advantage of his position...
With spring training games just around the corner, many fans are wondering what to make of this team.
Obviously, I think it would be too soon to just make judgements based on names. This isn’t a video game (As much as I love MLB The Show), so anything can happen. Whether you take injuries, breakout seasons or any other factors into account, we could get an excellent result from...
Terry Collins knows that Ruben Tejada is not late. He also knows that the young man who will replace Jose Reyes has already impressed with hustle and precocious baseball instincts. The manager even called himself “selfish” for wishing that Tejada was already in Port St. Lucie. But still, despite all those qualifications, Collins’ visceral desire remains: He wants Tejada in camp, now.
Milwaukee Brewers reliever Francisco Rodriguez filed a lawsuit against his former agents at the Wasserman Media Group.
"We are going to purse all of our legal options in the immediate future to the fullest extent possible,'' K-Rod’s attorney Richard Johnson said. "As you can see in this lawsuit, there were multiple incidents of concealment.''
&lt;a href="http://msn.foxsports.com/video?videoid=7e6c3f4f-20d2-4fe0-9df4-e03082c93bb6&amp;src=v5:embed::" target='_new' title='Mets&amp;#39; Santana, Collins optimistic' &gt;Video: Mets&amp;#39; Santana, Collins optimistic&lt;/a&gt;
“Suave, amigos. Everything is under control...
Tejada expected in camp on time
PORT ST. LUCIE — Jason Bay has got it all figured out — sort of.
The underachieving left fielder arrived at Mets camp yesterday ready to forget about the last two seasons and give his team some bang for its $66 million.
“For everything I’ve done in my career, I haven...