Mets refinance debt against SNY, funds to aid team

baseball-moneyMets owners have refinanced $450 million in loans borrowed against SportsNet New York (SNY), reports Josh Kosman for the New York Post.

According to Kosman, “While the financial terms could not be learned, some of the proceeds are expected to go toward funding the cash-strapped team’s day-to-day operations.” In addition, Adam Rubin of ESPN New York says of the refinancing, “It presumably reduces any massive payment coming due soon that would imperil the Wilpons’ ability to retain the team.”