Two "high-ranking" Mets officials said yesterday that a
deal for the team to be acquired by Cablevision is
"imminent" and "could be announced within the next week,"
according to T.J. Quinn of the Bergen RECORD. The anonymous
sources said that a deal "has essentially been completed
that would transfer the majority ownership" to the company
for a sum "in the neighborhood" of $400M. One source: "It's
basically done. Now it's just a matter of when they
announce it." The sale is not expected to bring about any
short-term changes for the team. Although "there may be
some restructuring in the business office," the day-to-day
operations "will remain essentially the same." However, the
Mets "would become the centerpiece" of a potential
Cablevision-owned network. Under the agreement, Mets co-
Owners Fred Wilpon and Nelson Doubleday would retain small
percentages of the team as well as their current jobs.
Wilpon would continue to be in charge of operations as the
team President while Doubleday would remain Chairman of the
Board (Bergen RECORD, 6/25).
