Sunday, September 4, 2011

Einhorn-Mets Deal falls apart

Hedge fund manager David Einhorn attempts to acquire a minority stake in the New York Mets baseball franchise failed.

Einhorn statement a Thursday for an end to the exclusive negotiations with the Mets, blaming it on "comprehensive art changes" that the affair grew up in "last minute" Although he did not get into details.

Einhorn, the head of the 5 billion dollar hedge fund firm Greenlight capital, had been in negotiations with the Mets since May to buy a game for an investment of $ 200 million.

Team owner Fred Wilpon and Saul Katz offered a game in the team to cover liabilities, and expenses, due in part to a $ 1 billion lawsuit from Irving Picard, trustee of Bernard Madoff bankruptcy cases for their alleged involvement in Madoff's Ponzi scheme.

But the reports came out this week that the agreement was supposed to take place at the end of June would not close before the end of August.

Einhorn, a longtime Red Sox fan, please be courteous on the negotiations.

"I want to thank the entire Mets organization and Major League Baseball for their efforts. This experience will always be a happy memory for me because of the Mets fans, "said Einhorn in the expression.

Mets ownership in an official statement said "Mets ownership has decided to explore other options" to find a minority investor and has enough capital to cover all 2011 losses. The ownership also Einhorn thanked for "his interest is considering this opportunity."

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