Sunday, 27 February 2011

MLB Gave Mets Loan, Wilpons Agree To Sell More Of Team

Throughout this whole Madoff lawsuit mess, which has overshadowed the Mets spring training thus far, CEO Fred Wilpon and COO Jeff Wilpon have insisted that their financial troubles would not affect the team in the least.

Even as they've sought to sell 20-25 percent of the club, they've framed it as a anticipatory, shrewd move, not a desperate one. But it turns out that the Wilpons and MLB were fully aware of the Mets financial crisis as early as last fall, when MLB gave the team a $25 million loan. ( Read MLB more... )

Mets Received Loan From MLB

The Mets, dealing with a cash shortage, received $25MM from Major League Baseball in November, according to Michael S. Schmidt and David Waldstein of the New York Times.

MLB typically extends its 30 clubs a credit of $75MM, according to the report, which the Mets have already exhausted in addition to the $400MM debt they have on the team. To boot, more financial damage looms for the Mets, as they face a $1 billion lawsuit by Irving Picard, the trustee of the victims of the Bernard Madoff ponzi scheme. ( Read MLB more... )

Mets Borrow $25 million from MLB

According to the Daily News, the Mets borrowed $25 million from Major League Baseball as a short term loan to “shore up the team’s liquidity”, and is expected to be repaid “within months”.

The team issued the following statement: ( Read MLB more... )

MLB denies McCourt's attempted loan

GLENDALE, Ariz. -- Dodgers owner Frank McCourt's effort to borrow $200 million from FOX using the club's cable rights as collateral has been turned down by Major League Baseball, according to a Los Angeles Times report.

The deal would have extended FOX's current cable rights to televise Dodgers games by up to four years if the loan was not repaid, at a value of $50 million a year, anonymous sources told the Times. ( Read MLB more... )

Joe Torre Named Major League Baseball's Executive Vice President For Baseball Operations

Baseball Commissioner Allan H. (Bud) Selig announced today that he has appointed Joe Torre as the new Executive Vice President for Baseball Operations for Major League Baseball.

In his new capacity, Torre will oversee areas that include Major League Operations, On-Field Operations, On-Field Discipline and Umpiring. Torre will serve as the Office of the Commissioner's primary liaison to the general managers and field managers of the 30 Major League Clubs regarding all baseball and on-field matters. ( Read MLB more... )

Joe Torre Is The New MLB VP

Torre’s Out of the Dugout and into the Big Office

Joe Torre’s name has long been recognized as a top baseball manager, the fifth-winningest in Major League history.

Now, MLB Commissioner Bud Selig has given him a new title, MLB executive vice president of baseball operations.

This is a new era for the 70-year-old. Not only was Torre an all-star player for the Braves and the Cardinals, he hasn’t been out of the dugout since 1989. ( Read MLB more... )

MLB hires Joe Torre as executive vice president of baseball operations

Joe Torre, who spent the last three years with the Los Angeles Dodgers, was appointed by commissioner Bud Selig as Major League Baseball's new executive vice president of baseball operations. Torre has built a reputation as a class act as both a manager and player, which no doubt helped him get the position.

It didn’t take Joe Torre long to find another job.

The retired manager, who spent the last three years with the Los Angeles Dodgers, was appointed by commissioner Bud Selig as Major League Baseball's new executive vice president of baseball operations, reported Friday.

Selig is to make an official announcement Saturday afternoon. ( Read MLB more... )

Mets Forced To Take Loan From MLB

Financially battered by a multi-million dollar lawsuit filed in connection to the Madoff scheme, the New York Mets revealed Friday that the organization was forced to ask the MLB for a loan in November.

"We did receive a loan from Major League Baseball in November," the Mets said in a statement. "Beyond that, we will not discuss the matter any further."

According to the New York Times and Daily News, the cash-strapped club borrowed $25 million. ( Read MLB more... )

MLB NOTEBOOK: D-backs, Giants open spring schedule

SCOTTSDALE - Diamondbacks starter Joe Saunders threw a 1-2-3 first inning but had trouble in the second as Arizona and the Giants opened the exhibition season Friday in the majors' only game.

The left-hander, who might be the team's opening-day starter, worked 1 2/3 innings in the 7-6 loss. He allowed four runs, all earned, gave up four hits and had one strikeout.

"I made some good pitches and they still found some holes," he said. "I was dealing with a little bit of arm soreness issue. A little bit of tightness there. "It's just normal spring training soreness. It's stuff everyone goes through." ( Read MLB more... )

MLB SPRING TRAINING: Kimbrel hoping to fill Wagner’s big shoes in Braves’ closer role; Leesburg's Posey leads way in Giants' spring opener

KISSIMMEE, Fla. (AP) — Craig Kimbrel refuses to put the title with his name.

"I'm not the closer right now," the 22-year-old said, standing at his locker after a spring training workout for the Atlanta Braves.

He might be the only one thinking that way.

Kimbrel was downright dominating during the final month last season, blowing away hitters with a fastball in the mid-to-upper 90s, a version of the knuckle curve that he throws nearly as hard as a slider, and just enough wildness to keep hitters from getting real comfortable at the plate.

With Billy Wagner retired to his farm in Virginia, all signs point to Kimbrel taking over the vital ninth-inning role for Atlanta.

Even Jonny Venters, another contender for the job, figures there's little chance of beating out the young right-hander. ( Read MLB more... )

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Courtesy : UPI , GothamIst , MLB Trade Rumors , Mets Blog , MLB , E Canada Now , All Headline News & Fox40

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