Sources: Mets close to selling shares

Updated: January 11, 2012, 4:41 PM ET
By Adam Rubin | ESPNNewYork.com

The New York Mets expect to close on the sale of between four to seven minority shares in the next few weeks, sources familiar with the process told ESPNNewYork.com.

The 4 percent shares in the team are for $20 million apiece and would raise between $80 million and $140 million in an attempt to help stabilize the financially troubled franchise.

The infusion would allow the Mets to repay a $40 million bridge loan to Bank of America as well as a $25 million loan from Major League Baseball.

Still, ...

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