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Blog Entry

Einhorn has track to majority ownership of Mets

Posted on: May 28, 2011 2:55 pm
Edited on: June 1, 2011 11:37 pm
 
By Matt Snyder

David Einhorn has agreed to purchase about one-third of the Mets for $200 million, but he may end up owning up to 60 percent of the ballclub in three years, ESPN New York has reported (and is backed up by a report in the New York Times). Einhorn's current buy in will help the Mets keep their heads above the water in the short-term, but there's an option to up his stake in the team to 60 percent, according to ESPN New York's source.

The Wilpon family, the current majority owners of the Mets at present, could reportedly stop Einhorn from gaining control of the team, however, by returning his $200 million and allowing him to retain the 33 percent share in the Mets when the time comes.

Much of what happens will come down to the findings of the Wilpons' lawsuit to recover funds lost in the Bernie Madoff Ponzi scheme. If a favorable ruling comes about, the Wilpons will likely have enough cash to retain the majority ownership of the Mets. If not, it's likely the family will not have enough money to run the Mets' franchise, so they'd be forced to allow Einhorn to take the team over.

Einhorn, 42, is the president of Greenlight Capital, Inc.

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Comments

Since: Dec 2, 2011
Posted on: December 10, 2011 6:44 am
 

Einhorn has track to majority ownership of Mets

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Since: Dec 2, 2011
Posted on: December 6, 2011 1:20 am
 

Einhorn has track to majority ownership of Mets

Many thanks previously will want to minimal write-up.Without a doubt thankyou! Fanta stic.



Since: Jun 29, 2008
Posted on: May 28, 2011 11:47 pm
 

Einhorn has track to majority ownership of Mets

Einhorn is Finkle! Finkle is Einhorn! Einhorn is a man!


tuile
Since: May 28, 2011
Posted on: May 28, 2011 7:29 pm
This comment has been removed.

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Since: Aug 21, 2006
Posted on: May 28, 2011 7:02 pm
 

Einhorn has track to majority ownership of Mets

I'm cautious on this one but only because what usually looks like being good for the Mets turns out to be a complete disaster.The sooner some new money starts helping with running this team the better.



Since: May 13, 2011
Posted on: May 28, 2011 4:17 pm
 

Einhorn has track to majority ownership of Mets

wat to go einhorn you proved you are much smarter that mutt and jeff then again anyone is much smarter than those two turds


The views expressed in this blog are solely those of the author and do not reflect the views of CBS Sports or CBSSports.com