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.
Mets Get Needed Financial Breathing Room with Sale of Shares
Filed under Money & Financials