Rangers refute Einhorn's Rumored $ 1 games

Hedge fund manager David Einhorn potential 33% stake in the New York Mets were said to have been 60% over three years for just one dollar.

But the Mets say any story about such stealing is simply a scent.

Einhorn, the head of the 5 billion dollar company Greenlight capital, is currently finalizing a deal with the Mets for a third minority stake in the team against their investment of 200 million dollars, but could end up with 60% controlling stake for an additional $ 1 as part of the agreement, according to a report in Forbes on Wednesday.

Win 60% of the shares would only occur if Mets co-owners Fred Wilpon and Saul Katz does not pay back the $ 200 million to Einhorn. Any agreement between the parties is subject to approval from Major League Baseball before it is finalized.

The Mets, a statement rejected the report:

"Like many other reports in the media speculate about a potential, yesterday was simply false, too."

A spokesman for Einhorn declined to comment to HedgeFund.Net report.

Agreement between Einhorn and the Mets was announced last month.

Among other details of the agreement, Einhorn was given back its $ 200 million, he would end up with only 16% ownership.

But he stands a good chance to acquire majority ownership since the Wilpon and Saul Katz are offered a share in the group to cover liabilities, and expenses, due partly to a $ 1 billion lawsuit from Irving Picard, the trustee in bankruptcy of Bernard Madoff. Wilpon also said in an interview in Sports Illustrated last month that the team could see 70 million dollars in losses this year.

Go to the Forbes article

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