[Forbes] Steve Cohen’s Refinancing Of Citi Field Debt Will Save The New York Mets A Fortune
November 2, 2023
[Forbes] Steve Cohen’s Refinancing Of Citi Field Debt Will Save The New York Mets A Fortune
4 comments
This is a bit of a “well, duh” article, as it would’ve been downright malpractice for anyone with significant debt not to refinance in 2021 when interest rates hit historic lows. However, this does give some good insight into how Steve has leveraged his wealth in order to set the franchise on a better long term trajectory, including putting $50 million onto the balance sheet for the ballpark when it was coming off of the pandemic-shortened season and presumably struggling with cashflow.
Man business wise, Steve is a real fucking shit head, and I’m a pretty moral person but god damn if he’s not fucking an amazing owner. I hate that I love him but I also don’t hate it.
Mets: Pandemic leads to a deficit of $50mil for the Mets limiting their ability to sign free agents. Billionaire owner writes a $50mil personal check to cover the debt.
Padres: Bally goes bankrupt taking $100mil out of their payroll giving them a $50mil deficit. Billionaire owners take out a loan instead of just cutting a check
>When the 67-year-old Cohen
Steve Cohen’s 67?? I thought he was like in his mid 50s. I guess insider trader money can keep you from aging
4 comments
This is a bit of a “well, duh” article, as it would’ve been downright malpractice for anyone with significant debt not to refinance in 2021 when interest rates hit historic lows. However, this does give some good insight into how Steve has leveraged his wealth in order to set the franchise on a better long term trajectory, including putting $50 million onto the balance sheet for the ballpark when it was coming off of the pandemic-shortened season and presumably struggling with cashflow.
Man business wise, Steve is a real fucking shit head, and I’m a pretty moral person but god damn if he’s not fucking an amazing owner. I hate that I love him but I also don’t hate it.
Mets: Pandemic leads to a deficit of $50mil for the Mets limiting their ability to sign free agents. Billionaire owner writes a $50mil personal check to cover the debt.
Padres: Bally goes bankrupt taking $100mil out of their payroll giving them a $50mil deficit. Billionaire owners take out a loan instead of just cutting a check
>When the 67-year-old Cohen
Steve Cohen’s 67?? I thought he was like in his mid 50s. I guess insider trader money can keep you from aging