Sunday, 24 July 2016
Last updated 1 day ago
Aug 29 2011 | 12:00pm ET
David Einhorn might have to wait until next season to enjoy his own owners' box at Citi Field.
The long-promised and long-delayed deal to make the Greenlight Capital founder a minority owner of the New York Mets—and to give the team a much-needed, $200 million capital infusion—is on hold again. No agreement will be struck by the end of this month, Forbes reports, leaving the two sides with just one more month in the baseball season to finalize a deal.
Talks between the two sides remain on track, according to Forbes.
Earlier this month, the New York post reported that Einhorn and the Mets had reworked his deal to buy a chunk of the team to appease the Mets' lenders, led by JPMorgan Chase. Under the new terms, only half of Einhorn's investment will be in the form of a loan and he'll buy only half as much of the team, 17%. The team's current owners, Fred Wilpon and Saul Katz, have five years to either repay Einhorn his $200 million or to allow him to buy a majority stake in the team for a nominal sum.