Mets News: Mets End Negotiations With Einhorn

Posted on by Kerel Cooper

Below is the press release the Mets sent out:

FLUSHING, N.Y., September 1, 2011 – The New York Mets’ Owners announced today that their period of exclusive negotiations with David Einhorn regarding a minority, non-operating interest in the Mets has expired and Ownership has decided not to extend the exclusive negotiating period any further. After months of negotiation, the parties were unable to reach agreement, and Mets Ownership has decided to explore other options.

Ownership has provided additional capital to cover all 2011 losses and is moving forward with the necessary resources to continue to operate the franchise. Ownership will explore other strategic transactions and is under no financial pressure to do a deal on any particular schedule.

“We are very confident in the team’s plans – both off and on the field,” said Mets Chairman and CEO Fred Wilpon. “We will engage with other individuals, some who have been previously vetted by Major League Baseball, along with other interested parties, regarding a potential minority investment into the franchise. My partners and I thank David for his interest in considering this opportunity and wish him well in the future.”

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