Don’t Laugh, I Got It On Sale: Future Mets Owner Could Purchase Team For $1
June 15 / Ben Axelrod / SportsGrid
Over the past few years, the New York Mets have been more of a reality show than an actual baseball team. Today, we figured out what reality show: Pawn Stars.
Multiple business outlets are reporting today that David Einhorn, who purchased a 33 percent stake in the Mets for $200 million, could be eligible to buy a majority stake in the franchise for a single dollar in three years.
Apparently Fred Wilpon, the current majority owner of the Mets, has until 2014 to repay the $200 million that Einhorn is using to cover some of the team's expenses, and if that doesn't happen, Einhorn can purchase 60 percent of the team for just $1.
And considering that the Mets are on track to lose $70 million in 2011, that scenario seems very likely.
As news that the Mets might as well be alongside off-brand soda and silly string at the dollar store spread, the team issued a statement kind of denying the reports, but not really.
“Throughout the entire sale process there has been -- and continues to be -- widespread misinformation and sometimes completely baseless and uninformed speculation about the terms of the potential agreement.”
So whether Einhorn will actually be able to buy his favorite team for $1 remains to be seen, although it would be fascinating to see if Einhorn would choose to pay with a check, single bill, or four quarters.
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