Mets agree to sell minority interest in team

(AP) - The owners of the New York Mets have agreed tosell a minority share of the team to investor David Einhorn for$200 million.The announcement

NEW YORK - (AP) - The owners of the New York Mets have agreed tosell a minority share of the team to investor David Einhorn for$200 million.

The announcement Thursday would allow financially strappedowners Fred Wilpon and Saul Katz to retain control of the team andgive them money to help pay debts and cover operating expenses.

Einhorn is president of the private investment firm GreenlightCapital, Inc.

The Mets said in a statement that Einhorn will be a "preferredpartner" and have a "nonoperating investment" in the team.

The Mets say the deal is subject to the "negotiation of amutually acceptable definitive agreement" and needs the approvalof Major League Baseball.

advertisement | advertise on News 12

Trending Video

1 Scholar Athlete: Nick Vanbelle
The rainfall in Stratford has yet to cause 2 Rain, wind not causing trouble on roads in Fairfield
The fire started on Bond Street Monday morning. 3 Eight people displaced after fire in Bridgeport
Kevin Cerulo, a salesman for Cablevision, says he 4 Cablevision salesman saves elderly woman
5 Connecticut Sportscast, Jan. 23

advertisement | advertise on News 12

Features

Focus on Connecticut Focus on Connecticut

Features local, state and federal officials discussing the issues around southwestern Connecticut.

Celebrates African-American culture in southwestern Connecticut. Our Lives

Celebrates African-American culture in southwestern Connecticut.

Each week News 12 Connecticut introduces you to Hometown Hero

News 12 highlights people who give to the community.

We spotlight a local team each week. Connecticut Team of the Week

Each week News 12 Connecticut highlights a team from a local school.

Sorry to interrupt...

Your first 5 are free

Access to News12 is free for Optimum, Comcast®, Time Warner® and Service Electric℠ video customers.

Please enjoy 5 complimentary views to articles, photos, and videos during the next 30 days.

LOGIN SUBSCRIBE