Wilpons Get Life Preserver
According to an official press release, the Mets have selected David Einhorn as their new minority partner.
Per the release:
The New York Mets today announced that David Einhorn has been selected as the team’s preferred partner and that the Mets and Mr. Einhorn have entered into exclusive negotiations with respect to a minority, non-operating investment in the team. The $200 million personal investment by Mr. Einhorn is subject to the negotiation of a mutually acceptable definitive agreement for the transaction, as well as required approvals by Major League Baseball. The parties expect to enter into definitive agreements by late June.
I am so happy that Einhorn has come on board to save the Wilpons from drowning. I was very concerned that Fred and Jeff might not be part of the team’s future, but it appears as though Einhorn has the wherewithal to pay down the team’s debt and make sure the bills get paid. And best of all, he’s only a minority owner, so the Wilpons still have control of the team. Hooray!
Though, some suspect that Einhorn could eventually become the majority owner, if a few things don’t fall the Wilpons’ way.
If you don’t know anything about David Einhorn, no worries — he has a Wikipedia page. In case you don’t have time to read it, the short story is that a) he’s a Mets fan; b) he manages a hedge fund called Greenlight Capital; and c) he thinks Steve Ballmer is doing a lousy job at Microsoft.
What does this mean for Mets fans? Not much, yet. All we know is that the bills are likely to be paid through the end of the year. A new chapter in Mets history is just beginning.