May 26, 2011, 9:12 AM EST
Multiple outlets are reporting this morning that the Mets have an agreement to sell 49% of the team to one David Einhorn of the hedge fund Greenlight Capital, Inc. for $200 million. The sale would not include a stake in SNY, it’s being reported. No word on what kind of managerial control, if any, Einhorn would have.
For those who care about such things, Einhorn is really young — he turns 43 this year — and is a serious poker player too. Colorful guy.
It’s also probably worth noting that Einhorn is in the news this week for much more significant business reasons: he, as one of the bigger shareholders in Microsoft, is calling for the company to fire its CEO Steve Ballmer. He’s also famous for being the guy who called B.S. on Lehman Brothers’ valuation and business practices well before anyone else did, and has made oodles shorting the stock of companies he feels are mismanaged. And he’s been pretty much vindicated in all of these assessments.
So: Einhorn is a guy who is not afraid to call for the head of management and he’s a guy who knows how to make a killing on a distressed asset. Yeah, I can totally see Einhorn agreeing to a deal in which he’s willing to sit back and let Fred Wilpon do everything he wants to do without any power to question, control or take over the course of the New York Mets. No question about it. It’s like, totally his M.O.
It may not be today and it may not be tomorrow, but I have this feeling that Fred Wilpon’s days as majority owner of the Mets are numbered.
- Francisco Rodriguez re-signs with the Brewers 7
- If addiction is an illness — and it is — Josh Hamilton shouldn’t be suspended 276
- Pirates open to massive extension for Andrew McCutchen 17
- Report: Josh Hamilton had a relapse this offseason that “involved at least cocaine” 85
- Yankees don’t plan on having to pay A-Rod’s $30 million in home run milestone bonuses 49
- San Francisco — and all of California — will consider a smokeless tobacco ban that includes MLB parks 131
- Rob Manfred says a return to a 154-game season could happen one day 66
- Report: The Yankees were “fuming” at how A-Rod handled his early arrival to spring training 114
- If addiction is an illness — and it is — Josh Hamilton shouldn’t be suspended (276)
- San Francisco — and all of California — will consider a smokeless tobacco ban that includes MLB parks (131)
- Report: The Yankees were “fuming” at how A-Rod handled his early arrival to spring training (114)
- Cuban prospect Yoan Moncada reportedly signs with the Red Sox for $31.5 million, plus $31.5 million in penalties (106)
- Gregg Zaun says young players should be physically abused and hazed by veterans. So they can learn respect. (105)