Mets say deal is off with investor David Einhorn

(AP) - The New York Mets owners say their deal is off to sell a minority stake in the team to hedge fund manager David

NEW YORK - (AP) - The New York Mets owners say their deal is off to sell a minority stake in the team to hedge fund manager David Einhorn for $200 million. The team said in a statement Thursday the two sides were unableto reach an agreement after months of negotiations. The deal wasfirst announced in May.The Mets' ownership group, led by Fred Wilpon, has been stuck ina legal and financial mess stemming from investments with Ponzischemer Bernie Madoff. A court trustee trying to recover losses forvictims of the scam has been trying to recoup money from the Mets.The Mets got a loan from Major League Baseball in November. Theinflux of money from Einhorn would have helped pay debts and coveroperating expenses. MLB must approve the deal.Wilpon says the Mets will now talk to others about investing inthe team.

advertisement | advertise on News 12

Top 5 Must See

Nassau Police are investigating another Carvel robbery, this 1 Police: Carvel robbed at knifepoint in Westbury
Peter's Clam Bar is the last winner of 2 Food Fight: Peter's Clam Bar
News 12's Elisa DiStefano and Newsday's Anne Bratskeir 3 Spring fashion: All about the sleeves
After the GOP health care bill was scrapped 4 Zeldin: Failed GOP health care bill 'eye-opener' for Trump
Two lawmakers are pushing for better safety on 5 Local lawmakers push for better safety on Southern State Parkway

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