Posted May 26, 2011 by DJ Enuff in Sports

Mets to sell minority stake


The NY Mets made a positive move and decided to sell a minority share of the team (to hedge fund manager David Einhorn for $200 million) in order to allow Fred and Jeff Wilpon to regain control of the team. Einhorn will own less than 49% of the team. It will help pay debts and cover operating expenses. The Mets have been swimming up river without a paddle in dealing with the Madoff scandal, lost monies, and illegal investments.

(info courtesy foxsports)