The New York Mets just can’t stay out of the news. The latest story comes courtesy of Bloomberg Businessweek, where Martin Z. Braun reports that Standard & Poors has lowered its rating of bonds issued to build Citi Field.
“We believe the project faces cash-flow volatility as a large portion of pledged revenues are game-day revenues with less than one-half of the revenues under short- to medium-term contracts,” the rating company said in a report.
You can read more details in the article… I won’t pretend to understand the world of finance, but it certainly doesn’t sound like good news.
In news that belongs on the sports page, rather than the business section, New Jersey native Andrew Bailey has been traded from Oakland to the Boston Red Sox, where he is expected to replace former closer Jonathan Papelbon. It will be interesting to see how the former Rookie of the Year fares with a team that frequently plays meaningful games.
It’s just 53 days until the start of spring training. Which team do you think has done the most to improve this off-season?