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.
Reds lefty Brandon Finnegan exited Monday afternoon’s start against the Cardinals in the fourth inning with an apparent shoulder injury. He grimaced after throwing a pitch and promptly walked off the field without even trying to throw a warmup pitch. In three-plus innings, Finnegan allowed three runs on three hits and four walks with two strikeouts on 58 pitches.
Finnegan, 24, was making his first start since April 15. He had been dealing with a strained left trapezius muscle.
The Reds should have more information on Finnegan’s status later tonight. Given how Finnegan acted after throwing his final pitch, a stint on the disabled list looks likely.
The Rays have acquired shortstop Adeiny Hechavarria from the Marlins, Clark Spencer of the Miami Herald reports. The Marlins will receive minor league outfielder Braxton Lee and pitcher Ethan Clark. The Rays are expected to assume the remainder of Hechavarria’s $4.35 million salary for the 2017 season.
Hechavarria, 28, has only played in 20 games this season due to an oblique injury. He has mustered a meager .277/.288/.385 triple-slash line with four extra-base hits and six RBI across 67 plate appearances. He still plays decent defense, though, so that may be enough for him to take the everyday shortstop job in Tampa.
Lee, 23, was selected by the Rays in the 12th round of the 2014 draft. This season with Double-A Montgomery, his second stint there, Lee hit .318/.387/.391 over 296 PA.
Clark, 22, was taken in the 15th round of the 2015 draft by the Rays. In his first stint at Single-A in Bowling Green, Clark has a 3.11 ERA with a 50/18 K/BB ratio in 55 innings of work.