Mets Get Needed Financial Breathing Room with Sale of Shares

Fred Wilpon and Saul Katz, the owners of the New York Mets, have sold off 12 shares of the team for $20 million each to raise $240 million. The funds have been used to pay off $65 million owed to Major League Baseball and the Bank of America.  Another $100 million or so has been used to pay down some of the team’s $430 million remaining debt.  Read more here.  Thanks to John Cerone for the link.