In N.Y., Josh Kosman reports prospective Mets investor David Einhorn "has restructured his $200 million investment in the struggling franchise -- categorizing only half the cash infusion as an equity investment and the other half as a loan -- erasing opposition from the team's bank lenders and paving the way for the deal to close by the end of the month." Sources said that half of Einhorn's cash "will go to repay a loan from Major League Baseball and to pay down bank debt." The remaining half "will go directly into team operations." Sources also said that the new deal "will buy Einhorn only a 17 percent stake in the team." One source indicated that Einhorn will "become a limited partner." If he is "repaid in full, he will retain that 17 percent stake -- in exchange for the cost of using the money for five years" (N.Y. POST, 8/9).
STAMP OF APPROVAL: In L.A., Bill Shaikin reported U.S. Bankruptcy Judge Kevin Gross yesterday "approved a $150-million loan agreement under which the Dodgers will operate during bankruptcy using funding provided by Major League Baseball" (LATIMES.com, 8/8).
LIGHTNING IN A BOTTLE: Lightning CEO Tod Leiweke said that following its first playoff appearance in four years, the team "has sold more than 10,000 full season tickets for next season," doubling last season's total of 5,000. Leiweke said that renewals "are running at about 90 percent, which means about 5,500 new subscribers have signed up." He added that he "hopes the season-ticket base will be about 12,000" after partial season tickets are sold and factored in (TAMPABAY.com, 8/7).
ON THE PROWL: The Grizzlies yesterday introduced 10- and 20-game Power Packs starting at $12 per game. Fans who purchase one of two 10-game Power Packs and pay in full prior to Sept. 1 will receive free tickets to an 11th game. Fans who pay in full for 20-game Power Packs before Sept. 1 will receive an additional 5% off the purchase price (Grizzlies).
