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Einhorn could have Mets for $1

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08:08 AM ET 06.16 | Numbers large ($70M) and small ($1) are painting a bleak picture in Queens. Last month David Einhorn and the owners of the Mets, Fred Wilpon and Saul Katz, came to terms on a deal in which Einhorn would pay $200 million for a 1/3 stake in the Mets and would have the right to obtain a 60 percent interest in three years unless Wilpon and Katz returned the $200 million to Einhorn but allowed the hedge fund manager to retain his 33 percent ownership. A banker familiar with the deal says the "strike price" for the 60 percent stake is just $1. Though the deal is not final and is subject to the approval of MLB, its terms underscore the desperation of Wilpon and Katz, whose team is swimming in debt, bleeding cash and losing fans. The Mets could post a net loss of $70 million this year, $20 million more than 2010.

Forbes.com

David Wright, Getty Images David Wright, Getty Images
June 16, 2011  08:15 AM ET

I will gladly pay them a dollar so Wilpon & Son and Mr. Katz can leave and let the Mets come back!

Comment #2 has been removed
June 16, 2011  08:55 AM ET

so what, they are still worth half a billion besides Madoff money

Comment #4 has been removed
June 16, 2011  09:44 AM ET

Wow. That's a hell of a deal for Einhorn. Either get 33% of the team for nothing, or 60% of the team for a dollar.

Ladies and gentlemen, this is how the rich stay rich.

June 16, 2011  09:53 AM ET
QUOTE(#4):

I think that's still too high a price to pay. I heard LeBron was going to buy the team with a dollar in change, but it seems all he could come up with is seventy-five cents......apparently he doesn't own a FOURTH QUARTER........................... ;p

Well, with all the tatoos Lebron has, he's still got room on his forehead for a nice big "L".

June 16, 2011  09:59 AM ET
QUOTE(#5):

Wow. That's a hell of a deal for Einhorn. Either get 33% of the team for nothing, or 60% of the team for a dollar.Ladies and gentlemen, this is how the rich stay rich.

60% would end up costing him 200 million, or 30% for interest on the money. but a heck of a deal for Einhorn.
Unless of course the Mets actually go down the tubes in which case he will own 33% or 60% of next to nothing. but still a good deal barring catastrophe.

June 16, 2011  10:10 AM ET
QUOTE(#5):

Wow. That's a hell of a deal for Einhorn. Either get 33% of the team for nothing, or 60% of the team for a dollar.Ladies and gentlemen, this is how the rich stay rich.

It really is.

June 16, 2011  10:10 AM ET

har har har -scumbag money-grubbing owners falling on hard times ... maybe they could get a job like the rest of us, to assist with their current shortage of capital ;)

June 16, 2011  11:13 AM ET

one of the worst franchises in MLB

June 16, 2011  11:34 AM ET

Let's Go Mets!

Comment #12 has been removed
June 16, 2011  12:50 PM ET

I got a dollar! Aw, I left my wallet in El Segundo - MILK ME!

Comment #14 has been removed
June 16, 2011  01:24 PM ET

How can you say that the Mets are one of the worst franchises in history? You need to blame ownership for the downfalls and poor player signings but to say that is just dumb and lacks knowledge. At least they have won the world series. Look at them playing now, a made up roster playing .500 ball and a better record than half of major league baseball.

June 16, 2011  01:26 PM ET

Mets here! Get your Mets here! One dollar!

June 16, 2011  01:27 PM ET
QUOTE(#15):

How can you say that the Mets are one of the worst franchises in history? You need to blame ownership for the downfalls and poor player signings but to say that is just dumb and lacks knowledge. At least they have won the world series. Look at them playing now, a made up roster playing .500 ball and a better record than half of major league baseball.

NL sucks too, check.

June 16, 2011  01:32 PM ET

"Einhorn could have Mets for $1"

Haggle.

June 16, 2011  02:47 PM ET

einhorn is finkle... finkle is einhorn

 
June 16, 2011  04:46 PM ET

$1.00? That sounds kinda high. Send Reyes to a team of deserving jerks and the price could double ... maybe triple! If it weren't for the Yankee fans, Met fans would have cornered the market on obnoxious behavior.

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