May 27, 2011, 10:00 AM EDT
In light of hedge fund manager David Einhorn buying into the Mets, The Wall Street Journal makes an observation this morning:
Einhorn is poised to join a growing number of sports team stakeholders who have come to this highly eccentric vocation bearing one basic skill: the ability to manage enormous sums of money. Over the past decade, hedge-fund managers and elite financiers—many of whom are from New York or who made their fortunes here—have emerged as the first people bankers call when they have a major sports franchise to dispose of.
I suppose courting owners whose skill is “manging enormous sums of money” is preferable to baseball’s old m.o. of courting owners whose calling card seems to be a striking inability to manage enormous sums of money. So hey — progress.
- And That Happened: Tuesday’s scores and highlights 37
- Zack Wheeler goes six scoreless innings in MLB debut 15
- The San Jose lawsuit against Major League Baseball should be thrown out of court 41
- San Jose sues Major League Baseball, challenging its monopoly power 26
- Original Biogenesis source: “the people running Major League Baseball are the biggest scumbags on Earth” 41
- MLB hands down the suspensions for Tuesday night’s Dodgers-Diamondbacks melee (111)
- Neil deGrasse Tyson explains why beanball wars are stupid (104)
- Democrats beat the Republicans 22-0 in the Congressional Baseball Game (98)
- And That Happened: Wednesday’s scores and highlights (97)
- And That Happened: Thursday’s scores and highlights (88)
- Heat rally to beat Spurs in Game 6
- PBT: After blowing lead, can Spurs rebound in Game 7?
- PST: On-fire Altidore lifts USA over Honduras in WCQ
- CSN: Pats' Hernandez questioned in murder case
- Underseeded? Nadal draws No. 5 at Wimbledon
- CSN: Celtics-Clippers KG, Rivers trade talks dead
- HBT: Mets' Wheeler goes six scoreless in MLB debut