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

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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 baseball world reacts to news of Kobe Bryant’s death

Kobe Bryant
Andrew D. Bernstein/NBAE via Getty Images
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Lakers legend Kobe Bryant and his daughter Gianna were two of nine people who died in a helicopter accident in Calabasas, California earlier today. Bryant’s death sent shockwaves throughout the basketball world, as well as the sports world at large. Here were a few reactions from the baseball world.

We certainly echo these sentiments, sending our condolences to the families and friends of those affected today. What a sad day.