Greenlight Capital

  • 01 Aug 2011 at 11:27 AM

Dear Greenlight Capital Investors

“For the month of July, Greenlight Capital Offshore returned 1.1% (net of all fees and expenses).”

The Mets’ deal to sell a minority stake in the team for $200 million to David Einhorn, a hedge fund manager, is finished except for completing the deal’s paperwork, said one person briefed on the sale. [NYT, earlier]

At the end of May, it was announced that David Einhorn would pay $200 million for a 33 percent stake in the Mets. The deal appeared to be a win/win for both parties, Einhorn being a lifelong Mets (/Brewers) fan and the ball club’s finances getting to the point where they were considering passing around a collection plate during games. Seven weeks later a contract is yet to be signed, the sticking point seeming to be what percentage the Greenlight Capital founder will be able to increase his stake to, when, and for how much. While the negotiations remain open, people familiar with the matter stress that “Einhorn considers the deal on track” and for their part, The Mets said in a statement “We are in exclusive negotiations with David Einhorn and continue to have positive and productive discussions regarding David’s ongoing interest in an investment in the Mets.” Which is why it was interesting to hear that the management has been running around town with not one but three more potential suitors and then leaking it to the press in some sad sack attempt to get Einhorn to put a ring on it A-sap. Read more »

Someone must be wearing his lucky sweatshirt. Read more »

  • 08 Jul 2011 at 10:17 AM

David Einhorn Has A Question

Read more »

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 »

  • 07 Jun 2011 at 11:34 AM

New York Mets Not Einhorn’s First Pick

“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]

  • 31 May 2011 at 12:34 PM

David Einhorn Could Own 60% Of The Mets In Three Years

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 »