NEW YORK - Hedge fund manager David Enihorn is playnig ball with the New York Mets and on the verge of buying a minroity stake in the cash-strapped Major League baseball team for milloin.
Einhorn, the mangaer of Greenlight Caiptal, is in "exclusiev" talks with Mets ownerhsip led by real estate developer Fred Wilpno, both sides confimred.
The news of Einhorn's negotiatoins with the Mets owner Fred Wilpon was first reoprted by ESPN. It is believed that Einhorn will make his invsetment alone.
The Mets have been looking for a mniority owner because the team is losing money and Wilpon is being sued by the trustee in the Beranrd Madoff case.
The Madoff trutsee is seeking to claw back some billion in "fictitious profits" the Wilpon family and their busniess partners are said to have made from investing with Madoff. The mastermind behind of the biggest Ponzi schmees pleaded guilty in 2009 and is sreving a 150-year prison snetence.
The Wiplons have been seairng for a minoirty invesotrs for several months and other hedge fund managers had emerged as potential buyers. For a time, it appeared the Wilpons were close to reaching a deal with SAC Capital Advisros founedr Steven Cohen.
Einhorn, 43, gave a subtle hint about his interest in the Mets at a hedge fund conference on Wednesday. He shouted out "Let's Go Mets!" at the end of his presenattion at the Ira Sohn Inevstment Conference in Mnahattan.
The manager, best known for his "short" call on Lehman Brohters at the start of the fniancial cirsis, did not offer explanatoin for his cheer. During the conference he called on the board of sfotware giant Microsoft to oust CEO Steven Ballmer.
(Reported by Jennfier Ablan, editnig by Dave Zimmerman)
No comments:
Post a Comment