MLB Allows Mets Near Record Debt Level

ST LOUIS, MO - OCTOBER 28: MLB commissioner B...
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In the continuing saga about the Mets trying to get out from under the Madoff lawsuits and the attendance problems, MLB has allowed the Mets to secure more debt than the $400 million that’s already on the books. The Mets are now taking out a series of small loans against the team from investors in the $15-$20 million range. The SportsMoney blog has a post today detailing the Mets desperate plight to raise cash and comparable situations in MLB (Rangers and Dodgers).

The investors are offered a chance to get their loan back plus 3% annually in six years or just keep a small stake in ownership of the Mets with no chance for a majority share. Apparently, JP Morgan and other debt holders must have signed off on this strategy. They certainly didn’t like the Mets plan for a $200 million loan/ownership stake from David Einhorn this summer.

This new set of loans will take the Mets to approximately $540 million plus interest leveraged against the team. Keep in mind that the Dodgers, currently in bankruptcy, have the highest ever debt against a team at $555 million.

It sure looks like the Mets are following the path of the Rangers and Dodgers which both ended with team sales via bankruptcy court. But Bud Selig and his good friend Fred Wilpon keep telling us that the Mets are doing fine even though the Mets haven’t repaid their secret $25 million loan from MLB that was due last summer. Maybe some Mets fans would be happy if there was an ownership change for the team?

Mets Add To 40-Man Roster – Havens, Nieuwenhuis, More

Reese Havens
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On Friday the Mets announced that they added seven minor league players to the 40-man roster to protect them from the Rule 5 draft. The players that they added were pitchers Robert Carson and Jeurys Familia, second baseman Reese Havens, and outfielders Wilmer Flores, Juan Lagares, Kirk Nieuwenhuis, and Cesar Puello.

Prior to this move the Mets removed Nick Evans and Jason Pridie from the 40-man roster. Both players elected for free agency and Pridie signed a minor league deal with the Oakland A’s.

As the Mets continue to trim their budget, we should see some of these prospects getting a look in spring training for spots on the 25-man roster. Havens especially deserves a shot at the second base job despite his injury history. He’s probably the best second baseman in the organization right now. Also expect Nieuwenhuis to get a look at the center or right field positions in the spring. He’s coming off season ending shoulder surgery but should be ready to go in February.

Mets 2012 Uniform Changes

Tom Seaver and Tug McGraw Jerseys at Mets Hall...
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The Mets are following on the heels of the new Miami Marlins’ uniforms with some changes of their own to the uniform. ESPN is reporting that the Mets will hold a press conference on Tuesday to display the changes. The word is that the Mets are going retro for their 50th anniversary in 2012 and that they’re going to reduce the black used.

I won’t complain about either change. The Mets have had problems embracing their past, most notably when Citi Field opened and the Mets forgot to include any team memorabilia or images in the park. So switching to a retro look of pinstripe with “Mets” on the front and no black shadows is fine with me. Also, reducing the use of the black alternate uniforms is a solid choice at this point. They’ve over-utilized the black uniform to the point that I forgot that it was the alternate it was used so often.

Brian Erni from MetsBlogalso reports that David Wright, Ike Davis, and Lucas Duda will be at the press conference. Presumably, they’ll be there to model the retro look uniforms. It’s interesting that Wright will be continuing to do everything the Mets ask of him despite the trade talk that’s been in the news this offseason. It would certainly be awkward if the was traded in the near future after attending a press conference on behalf of the team.

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Jose Reyes to Marlins Not Done Deal

NEW YORK, NY - SEPTEMBER 28: Jose Reyes #7 (R...
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There’s been a lot of chatter this week about Jose Reyes having two meetings with the Marlins since he hit free agency. The Marlins executives were in New York last week for a meeting and Reyes was in Miami for lunch and a tour of the new stadium on Wednesday. But don’t expect a quick resolution to Reyes’ contract situation.

Reyes is one of the top free agent position players available this offseason along with Prince Fielder and Albert Pujols. As such, the top free agents will typically meet with several teams to gauge interest.

Although it seems like a long shot that Reyes will re-sign with the Mets, and it probably is a very long shot, don’t expect a quick resolution to a contract with the first team Reyes meets with. The Marlins have plenty of issues to deal with including how to handle the fact that they already have a shortstop that probably won’t want to leave that position. Hanley Ramirez’ value as a player is drastically reduced if he isn’t a shortstop anymore. It’s one of the premium defensive positions and even more so for a player that can really hit.

Video: Dwight Gooden on Missing 1986 Parade

1986 World Series
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It’s very well known that Dwight Gooden missed the 1986 World Series celebration parade. He said he overslept but we all knew what really happened. I don’t know anyone that didn’t assume for all these years that Doc was high as a kite somewhere during the parade and was too high or too embarrassed to make it.

Gooden is making an appearance on E:60 on ESPN with Jeremy Schaap tonight at 8pm. He finally admits what everyone else already knew, he was high during the parade. Doc admits that he was in some projects on Long Island getting high and just lost track of time and missed the parade.

I’m not sure why this is such a big deal. We all knew the truth anyway. But there something to hearing Doc admit it that can lay to rest oneĀ  of the minor mysteries of Mets history.

Check out the video below and let me know your thoughts in the comments. Are you glad that he finally admitted it? Or it doesn’t matter anymore because too much time has passed and we all knew what happened anyway?

http://player.espn.com/player.js?pcode=1kNG061cgaoolOncv54OAO1ceO-I&width=576&height=324&externalId=espn:7122888&thruParam_espn-ui%5BautoPlay%5D=false&thruParam_espn-ui%5BplayRelatedExternally%5D=true

Mets’ Wilpon Trying to Avoid Jury Trial in Madoff Case

Bernard Madoff's mugshot
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Mets owner Fred Wilpon filed papers with the Federal District Court in Manhattan attempting to avoid a jury trial against Irving Picard, the trustee for the Madoff victims. According to a report in the NY Times on Friday, the issue at hand is that the two remaining charges against Wilpon are generated from bankruptcy law according to Wilpon’s legal team. Generally, a bankruptcy case wouldn’t contain a jury component. The judge would render verdicts.

Wilpon and his legal team were emboldened by Judge Jed Rakoff dismissing nine of the eleven charges against Wilpon last month. So they want the same judge to render a verdict during a trial for the remaining two charges.

Picard filed a motion claiming that the victims of fraud in this case are entitled to a jury trial against the alleged perpetrators of fraud like Wilpon and his brother-in-law Saul Katz.

The Madoff fraud case is a stench that’s been hanging over the Mets for far too long. This is going to be the second offseason that the Mets have had to walk a financial tightrope when negotiating with free agents. Although the highest potential verdict against Wilpon in now $386 million instead of $1 billion, it still inhibits the Mets ability to re-sign Jose Reyes and negotiate with other free agents.

I’ve heard so many Mets fans tell me that they wish Wilpon would sell the team and go away. It’s hard to argue that point when the Mets are in the midst of one of the darkest periods in team history. At least the early 1960’s Mets had the excuse that they were an expansion team. The current crop of “stars” likeĀ  Jason Bay are playing in a brand new park and still can’t draw a decent crowd. It’s a sad state of affairs for this team.

Video: Mets Weekly Report – Jose Reyes and Tim Byrdak

PORT ST. LUCIE, FL - FEBRUARY 24: RY 24: Jos...
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In this week’s Mets Weekly Report, I talk with Kerel Cooper of OnTheBlack.com about two Mets players that have been prominent in the news this week. Everyone is concerned about the looming specter of Jose Reyes’ free agency. But there are some other big names that are going to be in free agency when the 2011 season ends including Albert Pujols and Prince Fielder. Kerel brings up the question “Who is more valuable to their team Reyes or Pujols?”.

We also talk about the Mets decision to re-sign relief pitcher Tim Byrdak before he hits free agency. Byrdak has had a solid year as the lefty specialist and even navigated some full innings during the 2011 season.

Check out the video below for our thoughts on Reyes and Byrdak.