MLB’s Mets Confirm Short-Term USD25m Loan from League

March 1, 2011

Major League Baseball (MLB) side the New York Mets have released a statement confirming that in November, the league made a US$25m short-term loan to the clubs owners “in order to shore up the team’s liquidity.”

Reports suggest that the loan is “expected to be repaid within months.”

The Mets said in a statement: “We said in October that we expected to have a short-term liquidity issue. To address this, we did receive a loan from Major League Baseball in November”

Sources have also predicted that the Mets owners are now willing to sell up to a 49 per cent stake in the franchise, almost double the 25 per cent share that the owners had previously indicated that they would be willing to relieve.