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Blog Entry

New minority owner can buy rest of Mets for $1

Posted on: June 15, 2011 10:38 am
Edited on: June 15, 2011 1:01 pm
 
By Evan Brunell

The incoming minority owner of the Mets will have a chance to purchase the entire team in three years for just $1, Forbes reports.

Einhorn agreed to purchase 33 percent of the Mets for $200 million, and can purchase the rest for a buck unless current owner Fred Wilpon repays Einhorn the full $200 million, which would then reduce Einhorn's share to 16 percent.

This is a major, major gamble by Wilpon who is banking on his finances being in order three years from now. The Mets are currently so desperate for money that they agreed to the sweetheart deal in order to stop their bleeding. The Mets could post a $70-million loss this year, $20 million more than 2010. That's a major hole to dig out from under, especially with the $1 billion lawsuit over profits from Bernie Madoff's scheme pending.

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Comments
hotmeuly
Since: Dec 2, 2011
Posted on: December 22, 2011 11:07 am
This comment has been removed.

Post Deleted by Administrator




Since: Dec 2, 2011
Posted on: December 5, 2011 6:51 pm
 

New minority owner can buy rest of Mets for $1

Favre might appear to be however along the lines of minimal to complete because of this saga. They have becoming exactly as ambiguous suggest you divide probably can possibly , you should make all of this personalised matters in skiing!



Since: Dec 7, 2009
Posted on: June 16, 2011 11:39 am
 

New minority owner can buy rest of Mets for $1

@ callmezeke...a comment like that from a fan of two college teams and geographically diverse pro teams...were your two moms lesbians?
My, aren't you clever, nolebk....  Hate to disappoint you; but growing up in the military, moving every couple of years from one base to another, I learned to choose my favorite teams.  I don't let geography, fate, or peer pressure from exceptionally intelligent and well-mannered people such as yourself determine them for me.  But thank you for caring.

Now didn't the Tidewater Tides kick some International League butt during the 1980s with quite a few players and coaches who eventually brought NY the World Series?  They were the Mets' AAA club at the time; but now their web site claims they're affiliated with the Orioles.  Did the Mets' own AAA club disown them out of shame or something?  Whatever the explanation may be, if the two teams were to face off on the schedule now, my money would still be on the Tides.  As my original comment said, this Mets franchise is overpriced, even at a dollar.

-Zeke




Since: Feb 10, 2009
Posted on: June 16, 2011 11:16 am
 

New minority owner can buy rest of Mets for $1

hmm the Mets can be bought for a dollar - then can I just take the Pirates for the 8 cents I found in the couch



Since: Dec 18, 2009
Posted on: June 16, 2011 11:13 am
 

New minority owner can buy rest of Mets for $1

Comment of the day winner.



Since: May 15, 2011
Posted on: June 16, 2011 9:47 am
 

New minority owner can buy rest of Mets for $1

This shows you how bad things really are.  No more sugar coating the mess the Wilpons got themselves into.



Since: Oct 1, 2006
Posted on: June 16, 2011 9:18 am
 

New minority owner can buy rest of Mets for $1

Whoa, hold on a second. I have 2 dollars!!!!!! I want in!!!



Since: Aug 29, 2006
Posted on: June 16, 2011 8:59 am
 

New minority owner can buy rest of Mets for $1

haha 1$ for the Mets and it is still not a done deal. I love it!! MUHAHAHAHAA



Since: Jan 1, 2009
Posted on: June 16, 2011 6:43 am
 

New minority owner can buy rest of Mets for $1

I'll lend the new owner the buck for 50% of the team. Sounds good?




Since: Apr 22, 2009
Posted on: June 16, 2011 2:46 am
 

New minority owner can buy rest of Mets for $1

Oh Yea, I forgot isn't Einhorn one of Winne the Pooh characters?  I know the the staduim is going to get a new NAME! haha


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