Originally written on Mets Merized Online  |  Last updated 1/3/13

26 Oct 1998: Mike Piazza of the New York Mets shakes hands with Mets Owners Fred Wilpon (R) and Nelson Doubleday (L) during a Press Conference in New York City, New York. Mandatory Credit: Jamie Squire /Allsport
According to the New York Post, team owners Fred Wilpon and Saul Katz have refinanced $450 million in loans borrowed against cable network SNY. They have been working toward this since October. Back in October the New York Times reported that this would no only reduce semi annual loan payments significantly and create less revolving debt, but that the owners could net $30-$40 million in dividends and cashout. Also, by completing it before the new year, they avoided higher capital gains taxes on their SNY investment. The Post also mentions that S&P estimates that stadium revenue fell six percent last year, with seat revenue suffering the most significant decline of 13 percent. Suite sales were the saving grace, rising 11 percent — but S&P said that was due, in large part, to the Mets’ parent, Sterling, now owning “about 20 percent of the suites.” Rival ratings firm Moody’s holds a different view and in November upgraded its outlook on the ballpark. The Wilpons have authorized...
GET THE YARDBARKER APP:
Ios_download En_app_rgb_wo_45
MORE FROM YARDBARKER

Matt Duffy is baseball’s biggest surprise

Jim Harbaugh joins Colin Cowherd for awkward interview

Report: Butler leaning toward long-term deal with Bulls

Nick Foles ready to lead dynamic Rams offense

Odell Beckham Jr. offered professional baseball contract

LIKE WHAT YOU SEE?
GET THE DAILY NEWSLETTER:

Ex-player Bobby Bonilla gets $1.2M annual payday from Mets

Kings reportedly have 'strong interest' in Rajon Rondo

Report: Country club might be too exclusive for Brady, Gisele

Reports: Jerry DiPoto likely out as Angels GM

Report: Mike Richards incident involved oxycodone

Report: Spurs, Leonard working on max deal

DeSean Jackson rips Eagles in new reality TV show

Deciding what the All-Star Game really means

Being a Dallas Cowboys fan could cost Chris Christie votes

Winning and losing the strike zone game: Midseason update

Baltimore Orioles keep finding a way to win

Aldridge recruited to Lakers by Adam Levine, Snoop Dogg

Report: Pelicans sign Davis to five-year, $145M extension

Rex Ryan more excited about Taylor than Cassel?

Jose Aldo out of UFC 189, replaced by Chad Mendes

Landon Donovan takes shot at Jurgen Klinsmann

Hope Solo admits to using stalling tactics on penalty kick

Scottie Pippen: ‘I was LeBron James before LeBron James’

MLB News
Delivered to your inbox
You'll also receive Yardbarker's daily Top 10, featuring the best sports stories from around the web. Customize your newsletter to get articles on your favorite sports and teams. And the best part? It's free!

By clicking "Sign Me Up", you have read and agreed to the Fox Sports Digital Privacy Policy and Terms of Use. You can opt out at any time. For more information, please see our Privacy Policy.
the YARDBARKER app
Get it now!
Ios_download En_app_rgb_wo_45

Deciding what the All-Star Game means

Odell Beckham Jr. offered professional baseball contract

Orioles keep finding a way to win

Lloyd sends USWNT to World Cup final

Selecting the 2015 AL All-Stars

NBA Draft grades: Eastern Conference

Under the radar NBA free agents

Michael Sam, boyfriend broke up?

Mickelson linked to money laundering?

Reminiscing on 'Love & Basketball' 15 years later

Selecting the 2015 NL All-Stars

The Sixers' latest horde

Today's Best Stuff
For Bloggers

Join the Yardbarker Network for more promotion, traffic, and money.

Company Info
Help
What is Yardbarker?

Yardbarker is the largest network of sports blogs and pro athlete blogs on the web. This site is the hub of the Yardbarker Network, where our editors and algorithms curate the best sports content from our network and beyond.