Hey look: another misleading “the Mets have sold a bunch of minority shares” story!

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Once or twice a month we get a new story about how the Mets have sold several of those minority stakes they’ve been peddling for close to a year. The stories always have a bit of an optimistic “we’re almost there!” spin to them.  The latest appeared yesterday as the Newsday — and then the other New York papers — reported that the Mets have sold 7 of the 10 shares.

Except, as Howard Megdal explains, it’s all highly misleading.  Six of those seven shares are slated to go to related entities, not outside investors. The seventh is Steven Cohen, who is clearly much more interested in buying the Dodgers and is likely trying to create some goodwill buy throwing $20 million the Mets’ way.

Go read Megdal’s take on it as well as his detailing of the sheer amount of debt the Mets currently have. And ask yourself whether these stories about the Mets selling minority shares should be spun as an optimistic thing or, rather, a somewhat desperate thing.

Twins sign Michael Pineda to a two-year deal

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The Twins just announced that they have signed pitcher Michael Pineda to a two-year contract.

Pineda, 28, has a 4.05 career ERA and has struck out 9.1 batters per nine innings over 680 career major league innings.

Pineda underwent Tommy John surgery this past July, so the Twins are buying a 2018 filled mostly with rehab and a pitcher for 2019. As such, the deal is probably not too taxing financially, but could pay off pretty well for them if Pineda comes back strong.