Mets sell 12 minority shares of team, repay loans to MLB and Bank of America

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This is a good day for the Mets’ owners.

Less than 12 hours after learning that the Wilpons and Saul Katz reached a settlement out of court to pay $162 million to trustee Irving Picard in the Bernie Madoff case, Teri Thompson and Michael O’Keeffe of the New York Daily News are reporting that the Mets’ owners have closed those long-awaited deals to sell 12 minority shares in the team. Additionally, they have repaid their $25 million loan to MLB, a $40 million loan to Bank of America and additional club debt.

The minority shares are worth $20 million each. The total of $240 million is expected to cover the team’s operating costs during the 2012 season. Two of the shares are going to the Wilpons and Katz while another four are going to SNY, their partnered cable network. The only other known investor is hedge fund manager Steve Cohen, who is considered one of the frontrunners to buy the Dodgers.

I suppose it’s not surprising that this news came out on the same day as the settlement, as the Wilpons and Katz want to put this whole mess behind them and look like a solvent ownership group as soon as possible. Whether this is a positive development for the franchise or Mets fans in the long-term is up for debate, but the PR campaign is in full effect.

Video: Albert Almora, Jr. saved by the ivy

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The ALCS had a weird play in Game 4 on Tuesday night, but Game 4 of the NLCS did as well. This one involved Cubs outfielder Albert Almora, Jr. and his attempt to spark a rally in the bottom of the ninth inning against Dodgers reliever Ross Stripling.

After Alex Avila singled, Almora ripped a double to left field, past a diving Enrique Hernandez. The ball rolled to the ivy in front of the wall. Most outfielders there would’ve put their hands up, which would have alerted the umpires to call an immediate ground-rule double. Hernandez didn’t, instead fishing the ball out and firing it back into the infield. Avila had stopped at third base, but Almora kept running. Much to his surprise, he pulled up into third base to see his teammate standing there, resigned to his fate as a dead duck. Third baseman Justin Turner applied the tag on Almora for what he thought was the first out of the inning.

Almora, however, was then sent back to second base after the umpires correctly called a ground-rule double.

Unfortunately for the Cubs, the lucky break didn’t help as closer Kenley Jansen came in and took care of business, retiring all three batters he faced without letting an inherited runner score. The Dodgers won 6-1 and now lead the NLCS three games to none. They’ll try to punch their ticket to the World Series on Wednesday.