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 right-hander Trevor Cahill reportedly has a one-year deal in place with the Athletics, according to MLB.com’s Jane Lee. The exact terms have yet to be disclosed, and as the agreement is still pending a physical, it has not been formally announced by the club.
Cahill, 30, is coming off of a decent, albeit underwhelming year with the Padres and Royals. He kicked off the 2017 season with a 4-3 record in 11 starts for the Padres, then split his time between the rotation and bullpen after a midseason trade to the Royals. By the end of the year, the righty led the league with 16 wild pitches and had racked up a 4.93 ERA, 4.8 BB/9 and 9.3 SO/9 in 84 innings for the two teams.
The A’s found themselves in desperate need of rotation depth this week after Jharel Cotton announced he’d miss the 2018 season to undergo Tommy John surgery. Right now, the team is considering some combination of Andrew Triggs, Daniel Gossett, Daniel Mengden and Paul Blackburn for the back end of the rotation — a mix that seems unlikely to change in the last two weeks before Opening Day, as Lee points out that Cahill won’t be ready to shoulder a full workload by then. Instead, he’s expected to begin the year in the bullpen and work his way up to a starting role, where the A’s hope he’ll replicate the All-Star numbers he produced with them back in 2010.