Thursday, May 26, 2011

Mets have a Minority Partner

The New York Mets found their minority partner.  I didn't think it would happen but they were able to land someone that only took about 30 percent of the team with no apparent power.  I don't think if we will ever really know the terms of the deal though.  I would think that this guy has to have some power and he is banking on the fact that the Wilpons will have to sell and the team will become his.  Who is he, well his name is David Einhorn.  He is a lifelong Mets fan who has put 200 million down, the deal won't become official until late June.  Major League Baseball has to approve and both sides need to have a mutually acceptable definitive agreement. 

The Mets issued a press release today and here is what Fred Wilpon said.  "We are very excited about David joining our ownership group for several reasons.  David's investment immediately improves the franchise's financial position.  Equally important, Davids intelligence, integrity and success in both business and civic affairs provides us with another perspective in evaluating what is best for this organization and our fans, and we welcome his input.  In partnership with David, we look forward to achieving our ultimate goal of again becoming World Series Champions." 

I think it will be interesting, I am sure for him to come aboard he needed more then free tickets and a parking spot at Citi Field.  I don't know though if he has any real power or the Mets will just let him in meetings and all that and say they listen to him but don't really.  I am sure that he thinks there is a good chance he may get the team also otherwise he probably wouldn't have done it.  I think the Wilpons will probably have to sell eventually but it depends on what is going to happen with the Picard lawsuit.  If they really get hammered and lose then they may not have the money to run the team anymore and have to give it up to David Einhorn.  The Mets fans may be happy with that and he seems like a guy that could really help the team but we will have to wait and see what happens.

Here are Einhorns quotes “Having an opportunity to become part of the Mets franchise is exciting beyond my wildest childhood dreams. I spent my first seven years living in New Jersey and rooting for the Mets. In 1975, I even dressed in a homemade jersey as a Met for Halloween. I have been a baseball fan for my entire life and have enjoyed teaching the game as the coach of my daughter’s little league team. I look forward to partnering with the Wilpon and Katz families through the good seasons, the tough seasons and especially the championship seasons.”

The Mets will begin a ten game homestand tomorrow, lets see if they can get something going.  At the very least at least they have some stability and won't be going broke, maybe they can make some moves at the trade deadline, I am sure they will still try to move their superstars who have the big contracts but it will be interesting to see if this changes anything. 

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