Showing posts with label Mets Deal. Show all posts
Showing posts with label Mets Deal. Show all posts

Thursday, September 01, 2011

The Mets release statement on Einhorn negotiations


The New York Mets' Owners announced today that their period of exclusive negotiations with David Einhorn regarding a minority, non-operating interest in the Mets has expired and Ownership has decided not to extend the exclusive negotiating period any further. After months of negotiation, the parties were unable to reach agreement, and Mets Ownership has decided to explore other options.

Ownership has provided additional capital to cover all 2011 losses and is moving forward with the necessary resources to continue to operate the franchise. Ownership will explore other strategic transactions and is under no financial pressure to do a deal on any particular schedule.

"We are very confident in the team's plans - both off and on the field," said Mets Chairman and CEO Fred Wilpon. "We will engage with other individuals, some who have been previously vetted by Major League Baseball, along with other interested parties, regarding a potential minority investment into the franchise. My partners and I thank David for his interest in considering this opportunity and wish him well in the future."

Tuesday, July 12, 2011

Bud Selig Approves Mets Ownership Deal with Einhorn


Major League Baseball commissioner Bud Selig said Tuesday that he will approve the partial sale of the Mets to hedge-funder David Einhorn once the deal is finalized.

The sale of a $200 million minority stake in the club has taken longer than expected to complete. Einhorn initially said he expected to close the deal by the end of June, and neither side has offered an updated timetable. But once the terms are agreed on, Selig said he won't hold up the deal.

"What the [heck], he played baseball in my backyard. How can I turn him down?" Selig said at a luncheon with baseball writers before the All-Star Game. While growing up in a Milwaukee suburb, Einhorn said he used to play baseball in the backyard of Selig's neighbor.

"Yeah, he's cleared," Selig said. "Now, they have to finish the deal. And by the way, I think they're making very good progress."

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