…if we’re counting owning a team’s parking lots and garages as owning a piece of the team and I think we are! Read more »
Greenlight Investor: David Einhorn Not Dumb, Can Educate Microsoft On What To Do With Ballmer One Day, Jose Reyes On What To Do With An Inside Fastball The NextBy Bess Levin
Zucosky said that Einhorn could read deeply into balance sheets to understand what makes companies — and teams — tick. “If you’re a hedge fund manager, you understand how to manage risk,” Zucosky said, and added: “He’s not stupid. He’s not going to flush his money down the toilet.” Read more »
“He looked seriously at the Brewers,” said Bill Ackman, another hedge fund heavyweight, who runs Pershing Square Capital Management. He said that Einhorn did not view his interest as a lark. Indeed, Ackman said Einhorn “kicked himself” when he heard what Attanasio’s group paid for his share of the team: $223 million. [NYT]
Unless the Wilpons think they can come up with $200 million, in which case they’d better start sending Irving Picard a daily Edible Arrangement now. Read more »
As you may have heard, David Einhorn will be purchasing a minority stake in the New York Mets, for $200 million. DE held a conference call just now to discuss the investment and answer a few questions including but not limited to how he feels about the Mets’ financial situation/what his expectations are for stake, which was asked, conservatively, 15 times, and which he responded to each time by reiterating that this is a “personal” deal and he’s in it for the love of the game. Also: Read more »
“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.”
Yesterday at the end of his Ira Sohn presentation (after telling Steve Ballmer to do the right thing and quit Microsoft), David Einhorn added “Go Mets!” with little grin on his face, like he had a secret…which apparently was that he just bought a minority stake in the team.
The New York Mets have agreed to sell less than 49 percent of the club for approximately $200 million to David Einhorn, president of Greenlight Capital Inc., sources close to the deal tell ESPN’s Karl Ravech. The sale will not include a stake in SNY, the television network owned by the Mets, the sources said.
This kid is probably pretty pleased with the news: Read more »