MLB Analysis: David Einhorn Buys into Mets

| by Off The Record

Well, sort of. Sources tell ESPN’s Karl Ravech (seriously? Since when does a desk anchor at ESPN break stories?) that the New York Mets have finally sold off part of the team. The team has agreed to sell less than 49% to Greenlight Capital founder David Einhorn for $200 million.

In cash. And no funny business.

“(Einhorn’s) investment immediately improves the franchise’s financial position,” Mets owner Fred Wilpon said in a statement. “Equally important, David’s 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.”

The team’s financial woes are well documented since the owners were tied to the biggest Ponzi scheme in history. They are even facing a lawsuit that claims that they were somewhat willing participants in the scheme.

So this new money (a deal is expected to be finalized in June) could go a long way towards their legal fees.

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