The Mets Strike Out (Again)

Posted: September 2, 2011 by Keith Stone in baseball, dinero, Mets, MLB

It looked like the Wilpons had all their financial matters settled when they reached a tentative agreement to sell a minority portion of the team to David Einhorn, but the deal fell apart and the reason is unclear. We’ll probably never get a definitive answer from this he-said, she-said catfight that has developed, however, it looks like problems arose when somebody (*COUGH* the Wilpons *COUGH*) tried to change the terms of a potential future ownership change at the last second. The family will now likely sell off smaller parts of the team to several investors.

The Mets can’t even accept $200 million the right way. Einhorn was loaning them straight cash for the right to be called an owner of the team. He wasn’t going to have any decision-making power at all. The Wilpons were literally selling Einhorn $200 million worth of paper and would only transfer a minority stake in the team to him if they couldn’t repay the money.

If you can’t make money owning a baseball team in New York, then you are a failure at life. Einhorn is a smart guy. Just him being around the Mets would have been a good thing for the organization. If I was a Mets fan, you gotta believe I’d be pissed.

ESPN

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