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.
Free agent reliever Bryan Shaw has received two multiyear offers, Paul Hoynes of the Cleveland Plain Dealer reports. The teams in question have not been revealed, but the demand for Shaw is expected to be high as he comes off of a career-best season.
The 30-year-old right-hander went 4-6 in 79 appearances for the Indians, drawing a 3.52 ERA, 2.6 BB/9 and 8.6 SO/9 in 76 2/3 innings. He ranked 12th among qualified relievers with 1.6 fWAR, his highest mark to date, and proved instrumental in helping the club reach their second consecutive division title in 2017.
The Mets are the last known team to show interest in Shaw, as the New York Post’s Mike Puma reported Wednesday. Nothing has been officially confirmed by the club yet, naturally, but they could still use a couple of arms to round out the bullpen behind Jerry Blevins, AJ Ramos and Jeurys Familia and it’s worth noting that the right-hander has already worked closely with Mets’ skipper and former Indians’ pitching coach Mickey Callaway. While Shaw’s proven consistency and durability should appeal to a wide variety of teams, he’s due for a big payday after making just $4.6 million in his last year with the Indians.