The financial condition of Mets’ owner Fred Wilpon has taken another Amazin’ turn.
Wilpon and co-owner Saul Katz last month quietly refinanced roughly $700 million of debt owed by the team and SportsNet New York, the regional sports network controlled by their Sterling Equities, two sources close to the situation said.
Sterling owns 65 percent of SNY and 60 percent of the Mets.
The new five-year loans against the separate entities carry lower interest rates and tie the maturity dates together, sources added.
It is not known if Sterling was able to take any cash out of its investment, but the refinancing came as the Mets increased payroll by acquiring several players to help the team in its playoff run.