Whoa! Einhorn Is Not Buying The Mets
11:48 am, September 1st | by Hillary Reinsberg
And then we all let out a collective, “WHAT?!” So, now David Einhorn is not buying the Mets. The hedge fund billionaire was on track to pay $200 million for a minority stake in the team, which would provide the cash-strapped team with some much-needed funds. But the deal has fallen through.
“After months of negotiations, the parties were unable to reach agreement, and the Mets ownership has decided to explore other options,” the Mets said in a statement issued today. It appears that the Mets are now in a better situation financially. After having lost money with Bernie Madoff, the team was in dire financial straits for a while. Einhorn’s money was supposed to help out.
“I am disappointed to announce that I will not be purchasing an ownership interest in the New York Mets baseball team at this time,” Einhorn wrote in his own statement today. “The extensive nature of changes that were proposed to me at the last minute has made a successful transaction impossible.”