Originally posted on Mets Merized Online  |  Last updated 10/1/13
According to a report in the New York Post, the Mets will be looking to refinance “roughly $250 million in bank debt”. This is no doubt referring to the large note that becomes due in June of 2014, that we’ve talked and heard so much about. But thanks to the great job by Sandy Alderson, the lenders are thrilled and after huge losses in 2011 and 2012, a source told the post that the Mets only expect to lose $10 million in 2013. That’s quite a difference from the $70 million the team lost in 2011. The Post says that “even if the franchise hits a home run with its lenders and manages to pull off the deal without paying any principal, it won’t affect the budget for players’ salaries next season.” Yesterday, Sandy Alderson and Jeff Wilpon declined to comment on the payroll budget, but during an interview on WFAN, the Mets GM said it will be under $74 million. A source close the lending group views the refinance as a “decent loan” and team owners remain confident that with the value of th...
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