Sunday, 21 September 2014
Last updated 1 day ago
Jun 17 2011 | 3:52am ET
If ever there was a moving target, David Einhorn's deal to buy a piece of the New York Mets is it.
Einhorn is poised to buy a one-third stake in the baseball team for what amounts to a $200 million loan. But the deal is also said to include a provision that could make him the majority owner of the team within three-to-five years if the Mets' current owners aren't able to pay him back.
Earlier this week, Fortune reported that boosting his stake from 33% to 60% would only cost the Greenlight Capital founder $1. Not so, say the Mets.
"Like many other media reports speculating on the terms of a potential agreement, yesterday's was simply false, too," the team said.
Einhorn and the Mets are still hammering out the particulars of the deal, which still requires the approval of Major League Baseball. The Mets are in dire financial straits, loaded with debt and owned by a family, the Wilpons, facing up to $1 billion in liabilities in the Bernard Madoff Ponzi scheme case.
Aug 25 2014 | 11:21am ET
As many of you know, FINalternatives was recently acquired by the owners of Futures magazine, a firm called The Alpha Pages LLC. Today marks the soft-launch of a new sister site for both publications. As its name suggests, The Alpha Pages will cover all types of alternative investments, going far beyond the more well-known ones such as hedge funds and private equity. Read more…
Credit default swaps brought down the London Whale and cost JPMorgan $6.2 billion. Here is how it happened.