New York Mets Have a New Minority Owner: Dave Einhorn

Robert KnapelCorrespondent IMay 26, 2011

Just days after the article published in The New Yorker about Fred Wilpon, which featured both criticisms of his players and, more importantly, more details on what happened with Bernie Madoff, the New York Mets have announced that Dave Einhorn has bought a minority stake in the team.

Einhorn, a lifelong Mets fan, has entered exclusive talks with the Mets to buy a $200 million non-operating stake in the team.

The agreement is expected to be completed and approved by MLB owners in June.

Einhorn is the president of Greenlight Capital Inc., a large hedge fund. Yesterday, while giving a talk at a hedge-fund conference, Einhorn began to walk off stage when he was finished. He suddenly changed his mind, turned around and walked back up to the microphone.

He said just five more words: "One more thing...go Mets!"

It is great that Einhorn is so excited about this opportunity that he is willing to break character at the end of an important business conference just so he could express his joy about finally owning the team he loves.

This is certainly something that should get Mets fans excited.

Fred Wilpon has also released the following statement on this matter:

"We are very excited about David joining our ownership group for several reasons, David's investment immediately improves the franchise's financial position.

"Equally important, David's intelligence, integrity and success in both business and civic affairs provides us with another perspective in evaluating what is best for this organization and our fans, and we welcome his input. In partnership with David, we look forward to achieving our ultimate goal of again becoming World Series champions."

Einhorn also released a statement, and it is clear how much he values the opportunity to own the Mets:

"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."

This is finally a bit of positive news for the Mets. It is the start of a change, and it is hopefully one that leads to better decisions and eventually a Mets championship.


Photo Credits: Dealbreaker, Business Insider