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.
The Kansas City Star has covered the death of Yordano Ventura and its aftermath in a thorough, thoughtful, respectful and admirable fashion and it has all been compelling to read, even if it’s often been difficult to read. Their latest story may be the most difficult, though it is nonetheless essential.
It covers the final year of Ventura’s life which, sadly, was tumultuous. He had become estranged from his family. He was married to a woman who, at the time of the ceremony, was still married to her first husband and whose family, allegedly, later made threats against Ventura that we’re only now learning about. This includes allegations of armed men accosting Ventura at his home near the Royals spring training facility a year ago. An incident which led to him missing time due to “flulike symptoms,” but which, in reality, caused him considerable mental distress. He was again threatened, it is claimed, in Kansas City during the season. There is also an allegation that Ventura attempted suicide via an overdose of Benadryl, though that is disputed.
Beyond that, there is an arc to the end of Ventura’s life which sounds unfortunately familiar. It’s a story of a young man whose life changed dramatically in a very, very short period of time and who struggled at times to process the changes. Were it not for a fateful drive on a dark and winding road one night in late January, they all could’ve been things that, as his career matured, he could look back on as learning experiences. Now that he’s gone, however, they form the final, tragic chapter.
Ken Rosenthal of FOX Sports reports that the Royals and first baseman Eric Hosmer have discussed a long-term contract extension. However, Hosmer also indicated that he will head into free agency if a deal is not consummated by Opening Day.
Hosmer, 27, avoided arbitration with the Royals last month, agreeing to a $12.25 million salary for the 2017 season. He is one of four key Royals players who can become a free agent after the season along with Mike Moustakas, Alcides Escobar, and Lorenzo Cain. If Hosmer does reach free agency, he would arguably be the top free agent first baseman.
Hosmer finished the past season hitting .266/.328/.433 with 25 home runs and 104 RBI while making his first All-Star team.