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.
Jon Morosi of MLB Network reports that the Brewers may be interested in Jake Arrieta.
The Brewers could definitely use a front line starter, especially with Jimmy Nelson slated to miss a good chunk of next season due to a rotator cuff injury. Arrieta will be expensive, obviously, but the Brewers have a lot more payroll flexibility than most teams, with only minimal money due on long term contracts. Most of that is for Ryan Braun, but even the outlay for him is reasonable, with deferred money involved. Tom Haudricourt of the Journal-Sentinel laid all of that out back in October.
Milwaukee had a surprisingly good 2017 and they have the ability to add in free agency or to take on salary in trades if they want to. Maybe they don’t get Arrieta but they could make a splash this offseason.