Mets agree to sell minority interest in team

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

NEW YORK - (AP) - The owners of the New York Mets have agreed to sell 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

Top 5 Must See

Nassau Police say they arrested a 23-year-old man 1 Police: Uber driver beaten unconscious by passenger
According to police, a neighbor spotted Pedro Serrano 2 2 men arrested, accused in Merrick home burglary
Residents on Lawrence Lane and Buena Vista Avenue 3 Lawrence residents claim tractor trailers destroying neighborhood
If approved, concession stands on the boardwalk 4 Plan to allow alcohol sales on Long Beach boardwalk up for vote
The plan could delay the opening of new 5 Mangano eyes housing at site of new Coliseum

advertisement | advertise on News 12

Features

Each week, News 12's Doug Geed explores the Check out fun things to do on the East End!

Explore the Twin Forks with News 12's Doug Geed.

Each week a different shelter visits News 12 Dog Day Fridays Series

Each week a different shelter visits News 12 Long Island with pets up for adoption.

News 12 digs deep to find Long Island's Discover Long Island's Hidden Past

News 12's Danielle Campbell digs into Long Island's roots.

News 12's Lily Stolzberg sees how much Long On The Spot

News 12's Lily Stolzberg sees how much Long Islanders know about everything and anything.

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