Einhorn, the head of hedge fund firm Greenlight capital, has been in negotiations with the Mets since May to deal with him as a minority owner for an investment of $ 200 million.
Exclusive talks between Einhorn and team ownership would be completed by 30 June, according to an article in the New York Post. Discussions in progress rather than as a team spokesman told the newspaper.
Einhorn to begin with the agreement the Mets is interesting because he could end up with a controlling 60% of the shares, for an additional $ 1, unless the team has to pay back the $ 200 million to him within three years. But if the team pays back the money, he would end up with only 16% ownership.
Team owner Fred Wilpon and Saul Katz offered a share in the group to cover liabilities and costs, due in part to a $ 1 billion lawsuit between Irving Picard, the trustee in bankruptcy of Bernard Madoff case for their alleged involvement in Madoff's Ponzi scheme.
Go to the New York Post article
Related articles
Mets rebut Einhorn's Rumored $ 1 games
No comments:
Post a Comment