Fred Wilpon

The Mets recently received a $40 million loan from Bank of America


UPDATE: Via Andy Martino of the New York Daily News, the Mets have released the following statement:

“The bridge loan was approved by Major League Baseball and the syndicate of lenders to the Mets. The process for the sale of minority shares in the team continues to go very well.”

7:22 PM: Just in case the Mets’ offseason approach didn’t make it obvious enough already, the team’s owners remain hard up for cash.

According to Michael S. Schmidt and Richard Sandomir of the New York Times, the Wilpons and Saul Katz received a $40 million loan from Bank of America in the past six weeks. It’s being described as a “bridge loan” as they attempt to raise money through the sale of minority stakes. The Mets received a $25 million loan from MLB earlier this year, but have been unable to repay it.

People familiar with the team’s situation have said the owners had firm commitments from at least seven investors interested in buying a small share of the team for $20 million apiece. Still, until all are sold, none of the investors have had to turn over cash.

Vince Gennaro, a consultant to several major league teams, said that the $40 million loan “says to me that their finances continue to be tight, that there is a cash pinch.”

He added: “The team underperformed, and this tides them over until they get their money. They need cash flow.”

Now, Gennaro said, between the bridge loan and the $25 million owed to baseball, “the first $65 million has to go out the door” should the team sell an adequate number of shares in the team.

Two people with knowledge of the team’s finances told Schmidt and Sandomir that the Wilpons and Katz may have to consider selling the team if a full lineup of minority investors is not in place by next spring, though they have publicly expressed confidence on the matter.

Shawn Tolleson becomes a free agent

Leave a comment

The Rangers outrighted reliever Shawn Tolleson off the 40-man roster on Wednesday. Rather than accept the assignment to Triple-A Round Rock, Tolleson has opted to become a free agent, Rangers executive VP of communications John Blake reports.

Tolleson, 28, emerged as a closer for the Rangers in 2015, but his follow-up campaign this year was dreadful. He finished with a 7.68 ERA and a 29/10 K/BB ratio in 36 1/3 innings. He eventually went on the 60-day disabled list with a back injury.

Despite the nightmarish season, it’s easy to see a team deciding to take a flier on Tolleson for the 2017 season.

Indians strongly considering starting Carlos Santana in left field sans DH

TORONTO, ON - OCTOBER 19:  Carlos Santana #41 of the Cleveland Indians celebrates after hitting a solo home run in the third inning against Marco Estrada #25 of the Toronto Blue Jays during game five of the American League Championship Series at Rogers Centre on October 19, 2016 in Toronto, Canada.  (Photo by Elsa/Getty Images)
Elsa/Getty Images

Indians slugger Carlos Santana hasn’t played in the outfield in a major league game since 2012, but the Indians are strongly considering starting him in left field for Game 3 of the World Series at Wrigley Field on Friday,’s Jordan Bastian reports. As the game is hosted in a National League park, there is no DH rule in effect, so the Indians might otherwise have to keep Santana on the bench.

Santana is hitless in six at-bats in the World Series thus far, but he has drawn two walks. He has overall not had a great postseason, carrying an aggregate .564 OPS in 40 plate appearances since the beginning of the playoffs. Still, during the regular season, he had an .865 OPS so he can certainly be a threat on offense at any given moment.