Since the NY Post broke the story on Thursday that the Mets have refinanced $450 million dollars in SNY loans, we’ve gotten a little more clarity on what looks to be an ambitious overall re-fi plan by the Wilpons.
Including other outstanding loans that were refinanced, Mets owners have re-positioned about $700 million in total debt.
In fortifying their improving financial hold of the Mets, they have cashed out to the tune of over a $160 million dollar windfall.
It’s most likely the last thing you want to hear, but things are looking up for the once cash-strapped Mets who were wading through some choppy financial waters.
To begin, all of their outstanding debt has been refinanced at lower monthly costs and interest rates, with many of the due dates being pushed back as much 2-3 years , and more importantly, they get a huge influx of over $160 million dollars to spend as they see fit or just keep for themselves if that’s what they elect to do.
According to Forbes and the New York Time...