Sep 20, 2011, 10:00 AM EDT
Someone once said that there is nothing more limited than being a limited partner to George Steinbrenner. I’m assuming that’s still the case with Hal Steinbrenner too. But with better cash flow and less likelihood of a capital call, I’m assuming that being a Yankees minority shareholder is a better deal than being a minority shareholder in the Mets. It certainly is to Ray Bartoszek.
Bartoszek is an oil trader who, a few months ago, wanted to buy a minority share in the Mets. The Mets decided instead to negotiate with David Einhorn, so Bartoszek took his money and gave it to the Yankees instead:
By the time negotiations with Einhorn fell apart this month, however, the Mets could not turn back to Bartoszek. Besides feeling that the Mets’ owners had manipulated him to apply more leverage against Einhorn, Bartoszek had found a better deal. He would instead invest with the Yankees.
Last Friday, Bartoszek emerged as the newest limited partner with the Yankees, buying a share of the team from another limited partner.
Bartoszek said that his dealings with the Yankees were “the most straightforward negotiation [he’s] ever been a part of.” Which suggests, as does the article, that he felt the Mets were using him in order to leverage other bidders like Einhorn. Who knows if that’s true, but it’s kind of funny how he was able to buy into a team for which no one knew was accepting investors way easier than one which basically had its hat in its hand.
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