The Mets recently received a $40 million loan from Bank of America

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UPDATE: Via Andy Martino of the New York Daily News, the Mets have released the following statement:

“The bridge loan was approved by Major League Baseball and the syndicate of lenders to the Mets. The process for the sale of minority shares in the team continues to go very well.”

7:22 PM: Just in case the Mets’ offseason approach didn’t make it obvious enough already, the team’s owners remain hard up for cash.

According to Michael S. Schmidt and Richard Sandomir of the New York Times, the Wilpons and Saul Katz received a $40 million loan from Bank of America in the past six weeks. It’s being described as a “bridge loan” as they attempt to raise money through the sale of minority stakes. The Mets received a $25 million loan from MLB earlier this year, but have been unable to repay it.

People familiar with the team’s situation have said the owners had firm commitments from at least seven investors interested in buying a small share of the team for $20 million apiece. Still, until all are sold, none of the investors have had to turn over cash.

Vince Gennaro, a consultant to several major league teams, said that the $40 million loan “says to me that their finances continue to be tight, that there is a cash pinch.”

He added: “The team underperformed, and this tides them over until they get their money. They need cash flow.”

Now, Gennaro said, between the bridge loan and the $25 million owed to baseball, “the first $65 million has to go out the door” should the team sell an adequate number of shares in the team.

Two people with knowledge of the team’s finances told Schmidt and Sandomir that the Wilpons and Katz may have to consider selling the team if a full lineup of minority investors is not in place by next spring, though they have publicly expressed confidence on the matter.

Will fans be allowed to attend MLB playoff games?

The MLB Playoffs are underway!
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After a condensed 60-game regular season, the MLB playoffs kicked off this week with an usual 16-team format that you can read more about below, but one of the many questions on everyone’s mind is whether or not fans will be allowed to attend MLB playoff games.

Will fans be allowed to go to MLB playoff games?

There have been no spectators at any games this season but MLB Commissioner Rob Manfred is hopeful that fans will be able to attend the National League Championship Series and World Series Games. Both will take place in Texas which has been one of the few states allowing spectators to attend events this year.

“We are pressing ahead to have fans in Texas with a ticket sales announcement expected soon,” said Manfred to reporters at USA Today Sports. “One of the most important things to our game is the presence of fans. Starting down the path of having fans in stadiums, and in a safe and risk-free environment, is very, very important to our game.’’

Earlier this month, the Dallas Cowboys allowed over 21,000 fans into AT&T Stadium for the home opener. However, the MLB is still waiting for approval from Texas government officials. ALCS and NLCS games are expected to begin on October 11 and 12, respectively.

Below is the format and locations for each round. Unlike the regular season, there will be a bubble setup for each series in the postseason with the exception of the Wild Card round. Click here for the MLB schedule and scoreboard.

MLB Playoffs Format

Wild Card Series (Best-of-three): September 29 – October 2

All games will be held at the higher seed’s ball park.

American League

No. 1 Rays vs. No. 8 Blue Jays
No. 2 Athletics vs. No. 7 White Sox
No. 3 Twins vs. No. 6 Astros
No. 4 Cleveland vs. No. 5 Yankees

National League

No. 1 Dodgers vs. No. 8 Brewers
No. 2 Braves vs. No. 7 Reds
No. 3 Cubs vs. No. 6 Marlins
No. 4 Padres vs. No. 5 Cardinals

Division Series (Best-of-five): October 5 -10

The American League Division Series will be contested at Petco Park in San Diego and Dodger Stadium in Los Angeles. The National League Division Series will be held at Globe Life Field in Arlington, Texas and Minute Maid Park in Houston.

League Championship Series (Best-of-seven): October 11-18

The American League Championship Series will be held at Petco Park in San Diego while the National League Championship Series will take place at Globe Life Field in Arlington.

World Series (Best-of-seven): October 20-28

The World Series will be held at Globe Life Field in Arlington. Home field advantage will go to the team with the best regular-season record.

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