Meanwhile, Fred Wilpon gets $700 million in loans

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I guess he hasn’t technically defaulted before, so sure, why not give a guy who has spent two years spinning financial plates close to a billion bucks:

The owners of the New York Mets obtained at least $700 million in loans to refinance debt, according to a person with knowledge of the matter. The financing will be used to replace existing credit lines and provide additional funds to the parents of the Major League Baseball team, said the person, who asked not to be identified because the information wasn’t public.

In other news, Standard & Poor’s cut the ratings of the debt used to finance Citi Field. They’re now BB, which is two levels below investment grade. Howard Megdal’s story on this from yesterday digs into the reasons for that. Which for Mets fans, has to be rather depressing.

Yankees re-sign Jon Niese to a minor league deal

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The Yankees have re-signed pitcher Jon Niese to a minor league contract, George A. King III of the New York Post reports. Niese was released on Sunday, but he’ll stick around and provide rotation depth for the Yankees.

Niese had knee surgery last August and got a late start to spring training as a result. In six spring appearances lasting an inning each, the lefty gave up three earned runs on five hits and a walk with five strikeouts.

Niese, a veteran of nine seasons, put up an aggregate 5.50 ERA with an 88/47 K/BB ratio in 121 innings last season between the Pirates and Mets.

Orioles acquire Alec Asher from the Phillies

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The Phillies announced on Tuesday that the club traded pitcher Alec Asher to the Orioles for a player to be named later.

Asher, 25, was the victim of a roster crunch. He was not going to make the 25-man roster and the starting rotation at Triple-A Lehigh Valley was already full. The Phillies acquired him from the Rangers in the July 2015 Cole Hamels trade.

Asher had good results in 27 2/3 innings in the big leagues last year, posting a 2.28 ERA with a 13/4 K/BB ratio. While it didn’t show in those stats, the right-hander sometimes struggles with command and he doesn’t miss bats often enough to make up for it. The Orioles, however, are happy to add some pitching depth.