Showing posts with label 10 Minority Shares. Show all posts
Showing posts with label 10 Minority Shares. Show all posts

Wednesday, February 22, 2012

Mets have completed the sale of seven minority shares, one investor might be Steve Cohen


According to Steve Marcus of the Ny Newsday, the Mets have completed the sale of seven minority shares of the team for $20 million each, a person familiar with the process said Wednesday.

The source said the seven units are "signed and sealed." Another source identified one of the investors as billionaire hedge fund manager Steve Cohen.

The Mets declined to comment on the status of the sales or Cohen's involvement. A spokesman for Cohen declined to comment.

The club has said it intends to sell 10 units, for a total of $200 million, to pay off existing loans and help with operating expenses during the upcoming season. No timetable was given for an announcement of the agreements. A person with knowledge of the situation has said the investors have been vetted by Major League Baseball.

Wednesday, February 01, 2012

Mets expect to sell 10 minority shares by the end of February


According to the Ny Newsday, The Mets expect to sell 10 minority shares of the team by the end of February. The units, priced at $20 million each, would raise $200 million for the cash-strapped franchise and be used to pay existing loans and operating expenses for 2012.

It previously was believed that the Mets would close on a minimum of four units by the end of January. No reason was given for the new timetable or whether the closings would take place at the same time. None of the potential investors has been revealed. Major League Baseball has been involved in vetting the partial owners.

Related Posts Plugin for WordPress, Blogger...