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

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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.

Einhorn has agreed in principle to purchase roughly 33 percent of the team for $200 million, which will infuse cash and keep the organization solvent in the immediate future. In three years, according to the source, Einhorn has an option to up his stake to 60 percent, although principal owner Fred Wilpon and his family have an opportunity to block Einhorn from gaining that majority stake.

The source said the Wilpons can stop Einhorn from gaining the majority share essentially by returning Einhorn's initial $200 million investment. In the latest incarnation of the deal, if the $200 million is returned Einhorn's share of the team will be reduced from a third to a sixth. It was originally reported that Einhorn would retain the 33 percent share of the team.

[ESPN]

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