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


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.

Jeff Samardzija to undergo MRI on right shoulder

Denis Poroy/Getty Images
1 Comment

Update (12:58 AM ET): Per Henry Schulman of the San Francisco Chronicle, Samardzija has been diagnosed with a strained pectoral muscle. He’ll be shut down for a week. That’s good news for the Giants, considering the alternatives.


Giants starter Jeff Samardzija will undergo an MRI on his ailing right shoulder, according to NBC Sports Bay Area. The right-hander struggled in a minor league game on Wednesday, surrendering a pair of home runs and hitting a batter. Overall this spring, Samardzija has given up 15 runs (13 earned) on 17 hits (six homers) and seven walks with seven strikeouts in 11 innings.

This may mean Samardzija won’t be ready for the start of the regular season. Derek Holland would likely replace Samardzija in the rotation. Holland had been competing for the No. 5 spot in the Giants’ rotation.

Samardzija led the National League in losses last season with 15, also posting a 4.42 ERA with a 205/32 K/BB ratio in a league-high 207 2/3 innings. Since becoming a starter, Samardzija has been able to avoid injury, making 32 or 33 starts in each of the last five seasons.