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.

Red Sox trade Roenis Elias back to the Mariners

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The Boston Red Sox announced this afternoon that they’ve traded lefty Roenis Elias to the Seattle Mariners for a player to be named later or cash.

Boston had acquired Elias in the same trade that netted them reliever Carson Smith in exchange for Wade Miley and Jonathan Aro back in December of 2015. Since that time Elias has not been a part of the Red Sox’ plans, pitching in just four big league games — eight innings total — in all of 2016 and 2017 and not making an appearance for the big club this season. He was pretty solid for Pawtucket in 2016 but 2017 was largely lost to injuries.

Now he’s headed back to Seattle where, once upon a time, Elias posted a 3.85 ERA in 29 starts as a rookie for the Mariners.