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No Deal Between Einhorn, Mets
The Mets announced that they were unable to reach a deal with David Eihhorn, who had agreed to buy a minority share of the club from the Wilpon family. The Mets say they decided to explore other options instead of extending Einhorn's exclusive negotiating period.
The team announced that they have the capital to cover losses in 2011 and are "under no financial pressure to do a deal on any particular schedule." Chairman and CEO Fred Wilpon says the Mets will engage with other possible buyers, including some who have already been approved by MLB.
Eihnorn issued a statement in which he says the Mets wanted to change their initial agreement substantially, according to Adam Rubin of ESPNNewYork. "The extensive nature of changes that were proposed to me at the last minute has made a successful transaction impossible," Einhorn said.
The Mets agreed to sell a minority share of the team to Einhorn in May. They would have obtained $200MM for 30-35% of the team.
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