<
>

Report: SNY bailing out Mets

SportsNet New York, the regional sports network in which the Mets own a majority stake, will buy four $20 million minority ownership shares of the ballclub, the Times reports.

According to the report, Time-Warner and Comcast -- the Mets' business partners with SNY -- authorized the purchase of 16 percent of the ballclub to prop up the Mets, which in turn should help ratings. The $80 million infusion should allow the Mets to meet this year's debt obligations.

The Mets hope to raise $200 million through the minority investments. Multiple reports indicate Steven Cohen also has agreed to purchase a $20 million share.