03.01.11

Fred Wilpon Wants To Know, “Brother, Can You Spare 500 Million Dimes?”

Posted in Baseball at 2:59 pm by

(even the Mets principal owner has to grudgingly admit, the above headline kinda wrote itself)

The New York Post’s Josh Kosman, Mark DeCambre and Dan Mangan report the New York Mets “are desperately seeking a new loan”, just months after accepting a $25 million loan from Major League Baseball.

A well-placed source said both the Mets and Major League Baseball are exerting strong pressure on JPMorgan to make that loan happen.

The bank already has a tight relationship with MLB because it finances MLB operations.

“They [JPMorgan] believe the Mets still have the capacity to borrow,” a source said.

But another source said, “Are you kidding me?” when told about the loan.

“You don’t lend into a distressed situation,” that source said.

The new JPMorgan-led loan would be made with the understanding that it would help the Queens team cover its operating costs — including paying players who recently began spring training — pending the planned sale.

2 Responses to “Fred Wilpon Wants To Know, “Brother, Can You Spare 500 Million Dimes?””

  1. Rog says:

    They could just promote every player on the Cyclones’ roster and DFA everyone on the Mess’ roster. It would save a pant-load.

  2. GC says:

    anything to speed up Wally Backman’s promotion to the big leagues. A 110 loss team managed by Wally might actually be a decent draw if there’s enough microphones hidden in the right places

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