ESPN is reporting that the real motivation for David Einhorn to invest in the Mets is coming to light. We were all wondering what Einhorn was really getting for his $200 million dollar investment. Apparently, he doesn’t get much, if any, say in the running of the Mets. That will still be up to the Wilpon whether we like it or not.
The report states that Einhorn is buying 33% of the Mets for his $200 million. In three years, Einhorn will have the option to increase his percentage of ownership to 60%. But the Wilpons can block that move by giving Einhorn his $200 million back while allowing him to maintain 33% ownership.
If the ESPN story is true, it sheds some light on Einhorn’s real motivation. He’s allowing the Wilpons to use his money for three years and if they can’t pay it back at that time, he can take over the team. It’s a nice move by Einhorn and a risky one for the Wilpons. That lawsuit by the Madoff trustee should be settled within the next three years and determine the future ownership of the Mets.