Monday, May 31, 2010

Mets refinancing $375 million in debt

I don't quite know what it all means, but from Biz of Baseball (scroll down).

Ever since it was revealed that Mets owner Fred Wilpon was a client of Bernie Madoff there has been speculation surrounding the financial well being of his baseball franchise. Those concerns should be alleviated with the news that the Mets recently refinanced $375 million of debt. LWIB Daniel Kaplan reported for the SportsBusiness Journal, "The New York Mets holding company is close to refinancing $375 million of debt, sources said, underscoring that despite the team’s troubles at the gate and concerns about the franchise’s owners, the Wilpon family, having lost money in the Bernie Madoff investment scandal, the club continues to perform well financially.

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