David Einhorn Discusses Deal To Acquire Stake In Mets
Prospective Mets minority equity partner David Einhorn said today he is not concerned with Owner Fred Wilpon's recent comments on the team bleeding cash, and added he anticipates a turnaround for the franchise both fiscally and competitively on the field. "I expect the financial fortunes [of the team] to improve," Einhorn said. "I'm very comfortable with where we're headed. In fact, I'm excited."
Einhorn declined to discuss elements of his $200M investment or club operations in any significant detail. But said he quickly struck a strong relationship with Wilpon and gave high marks to GM Sandy Alderson. "He strikes me as a first-rate executive. … I think he's fantastic," he said. "As long we stay under his leadership, the Mets will end up in a good direction."
Einhorn intends the investment to be a long-term play, he will have no control over team operations, and said that his reputation as a short seller and noted corporate critic at Greenlight Capital is greatly overstated. "We do more on the long side [at Greenlight], and we own much more than we short," he said. The Mets deal, however, is strictly a personal investment for him, and has nothing to do with Greenlight. Einhorn did confirm that the deal does not include any interest in SNY. "I have no interest in owning a TV station. … That was never part of our negotiations."