Time Warner Cable and Comcast are nearing a plan to finance SNY’s purchase of four shares in the Mets, worth $80 million, said one person e with knowledge of the plan who was not authorized to speak publicly.If the deal is completed, the Mets would appear to have buyers for the 10 shares they are selling.That means they will have much-needed cash to pay off their substantial debts. But it would be a slightly quirky way of doing it. The deal would mean 16 percent of the Mets would be owned by SNY. The Mets’ parent company, Sterling Equities, owns 70 percent of the network.
via Financial Relief for Mets May Come From TV Partners – NYTimes.com.
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Is it just me or does this sound like when the foreign grocery store in the neighborhood gets caught doing something and goes out of business only to re-open a week later “under new management”. The Mets are now under Wilpon’s wife’s name or something.