Mayor Bloomberg Makes Announcement With MLB Commissioner Bud Selig And Mets Owner CEO Fred Wilpon

The Mets should have a cash infusion of over $160 million

13 Comments

Craig passed along a story yesterday that the Mets received $700 million in loans to refinance their debt, but as Richard Sandomir of the New York Times reports, the devil is in the details.

The resulting stability and financial muscularity of SNY and similar networks make them low risks to banks. Late last month, SNY refinanced $450 million in existing bank loans at lower interest rates and borrowed at least $250 million more. With their 65 percent ownership of SNY, Wilpon and Katz should have walked away with about $162.5 million.

In theory, the Mets could go out and use this cash to add talent to the team, but there’s no indication they are willing to do anything other than bargain hunt or perhaps re-sign Scott Hairston. Other more likely scenarios include paying down part of the existing bank debt on the team or bracing for further operating losses. Fun stuff.

Marlins acquire Severino Gonzalez from the Phillies

PHILADELPHIA, PA - SEPTEMBER 15:  Severino Gonzalez #52 of the Philadelphia Phillies delivers a pitch in the ninth inning against the Pittsburgh Pirates at Citizens Bank Park on September 15, 2016 in Philadelphia, Pennsylvania.  The Pirates won 15-2. (Photo by Drew Hallowell/Getty Images)
Drew Hallowell/Getty Images
1 Comment

The Marlins announced on Tuesday afternoon that the club acquired pitcher Severino Gonzalez from the Phillies in exchange for a player to be named later or cash considerations.

Gonzalez, 24, was designated for assignment last Thursday by the Phillies to make room for outfielder Michael Saunders on the 40-man roster. The right-hander has had a rough go of it in 66 innings in the majors, owning a 6.68 ERA and a 62/14 K/BB ratio. That ratio shows there’s some potential there and the Marlins will have about five years to try and discover it.

Giants sign catcher Nick Hundley

DENVER, CO - JUNE 07:  Nick Hundley #4 of the Colorado Rockies takes an at bat against the Miami Marlins at Coors Field on June 7, 2015 in Denver, Colorado.  (Photo by Doug Pensinger/Getty Images)
Getty Images
2 Comments

Andrew Baggarly of the Mercury News reports that the Giants have signed catcher Nick Hundley. It’s a major league deal worth $2 million.

Hundley, who is 33, but who seems like he’s been in the bigs for about 27 years, hit .260/.320/.439 with 10 homers in 83 games for the Rockies last season. Obviously he will be the backup given the presence of Buster Posey.